PHILADELPHIA | Lowrise/General Developments Thread

[summersm343]

2022 in Review: After two disastrous years, Center City retail is on the comeback

Despite a continued drop in office workers compared to pre-pandemic levels, retail in Philadelphia made strides in 2022.

As of September, 80.5% of retail storefronts were occupied within the Center City District. That put 2022 on pace to become the second consecutive year of net positive openings, according to the district. It also means occupancy rates are closing in on September 2019’s occupancy rate of 89%.

“2022 is the year retail really doesn’t rebound but came throttling back,” said Steve Gartner of CBRE, who specializes in retail.

As of October, office workers had returned to Center City at just above 50% of pre-pandemic levels. But residents reached 119% of the October 2019 level, which helped buoy retailers, Center City District reported.

Another trend that’s emerged is “clicks to bricks” brands, or e-commerce companies that are expanding into physical presences. Allbirds, Brooklinen, Interior Define, Glossier and Gorjana have all opened on Walnut Street since 2020 and more brands are planning future openings, according to the Center City District.

Article behind paywall here:
https://www.bizjournals.com/philadel...ladelphia.html

[summersm343]

Iron Stone plans 1,240 apartments in next phase of Provident campus redevelopment

When Iron Stone Real Estate Partners came up with a plan for the property at 4601 Market St., Partner Jason Friedland and his colleagues knew what they wanted.

First, they wanted to restore the former Provident Mutual Life Insurance Co. headquarters that was built in 1927. They wanted to transform it into a commercial anchor for the West Philadelphia neighborhood with health and education tenants. Then they wanted to add apartments to the property.

Iron Stone has all but wrapped up the first phase of that plan. The company bought the property from the City of Philadelphia for $10 million in 2019 and spent $70 million to continue repairs on the building. It’s been up and running with tenants inside since the summer and the last remaining space could be leased out in January.

Now, Iron Stone is shifting from rehabbing the Provident building to planning 1,240 apartments in six new buildings. The centerpiece of the development would be a convenient walking path from North 48th Street toward the Provident building, which sits facing North 46th Street.

Iron Stone plans to build a variety of apartment sizes and hopes to cater to people already living in the neighborhood rather than making those residents feel as if they're being pushed out. The mix of sizes is intended to lead to a mix of price points and renters with varying household sizes and income levels.

Potential affordability requirements are still being determined. Plans for the apartments were submitted to the city before new mixed-income housing requirements went into effect. The recent legislation says new developments with 10-plus units built in West Philadelphia must offer at least 20% of units below market rate.

Friedland said he’s sensitive to concerns about gentrification. Iron Stone is in the process of meeting with community groups as it finalizes specifics for its plan.

Article behind paywall here:
https://www.bizjournals.com/philadel...ron-stone.html

[TonyTone]

Originally Posted by cardeza

All those update pics in fishtown show how bad the el structure looks, good thing SEPTA is going to paint it. That will help the aesthetics a lot.

What is the timeline for that? And are they doing the same color? Or are they changing it up, also why has the kensington/Frankford side never been redone like the west Philly Side?

I think it was a big mess up by Septa to not make the EL track Gauge the same as Broad St so they can just buy one fleet of cars for all the lines.

[PHLtoNYC]

This would be great,

Philly Pops is launching a plan for survival

https://www.inquirer.com/news/philly...-20230104.html

Citing public dismay at news that the Philly Pops would shut down at the end of this season, leaders of the group have reversed course and are now working to save the city’s only stand-alone pops orchestra.

[EastSideHBG]

Originally Posted by TempleGuy1000

you want to know why I am curious about the effects of a bill that specifically targeted fast food restaurants since so many have closed in the last year or so? Ok then buddy. Maybe there aren't enough people in Center City anymore who want to eat McDonald's. I don't really think that's true, but maybe.

I'm not your buddy, guy.

I gotcha. But I just don't think you'd find something deeper is going on here.

[mcgrath618]

Originally Posted by TonyTone

What is the timeline for that? And are they doing the same color? Or are they changing it up, also why has the kensington/Frankford side never been redone like the west Philly Side?

I think it was a big mess up by Septa to not make the EL track Gauge the same as Broad St so they can just buy one fleet of cars for all the lines.

The Frankford El was redone in the 90s. They reused the existing superstructure but (shoddily and incorrectly) replaced the concrete deck on top.

[Philly Fan]

Originally Posted by EastSideHBG

I'm not your buddy, guy.

He's not your guy, friend.

[EastSideHBG]

Originally Posted by Philly Fan

He's not your guy, friend.

And I'm not his friend, buddy.

[TonyTone]

Originally Posted by EastSideHBG

And I'm not his friend, buddy.

I’m not your buddy, Friend.

Probably one of the funniest episodes of SouthPark

[TonyTone]

Originally Posted by mcgrath618

The Frankford El was redone in the 90s. They reused the existing superstructure but (shoddily and incorrectly) replaced the concrete deck on top.

https://www.courts.phila.gov/pdf/cpc.../090800140.pdf

Sheesh you werent lying. Well what caused Septa to tear down the structure for the west philly portion & rebuild it in the middle compared to the other half which is still the original that has had some rehab work done to it?

[DeltaNerd]

Originally Posted by cardeza

All those update pics in fishtown show how bad the el structure looks, good thing SEPTA is going to paint it. That will help the aesthetics a lot.

It would be cool if we got more paid more artist to put of there artwork at stations to make them unique.

[DeltaNerd]

Originally Posted by TonyTone

What is the timeline for that? And are they doing the same color? Or are they changing it up, also why has the kensington/Frankford side never been redone like the west Philly Side?

I think it was a big mess up by Septa to not make the EL track Gauge the same as Broad St so they can just buy one fleet of cars for all the lines.

I think the BSL cars are too wide for the MFL tunnels tight turning radius. I do have to agree that Septa should have bit the bullet and turned into standard gauge to possible connect with the NHSL. We are stuck with the Pennsylvania gauge for both trolleys and the MFL.

Is that the reason why the EL is so loud between Spring Garden all the way up to FTC because the structure was horribly rebuilt?

[TonyTone]

"Market St, and Chinatown will be destroyed if an arena is built"

"Market St and the Surrounding area at 9:18PM from Sunday to Thursday"

by Tony Valuez, on Flickr

by Tony Valuez, on Flickr

by Tony Valuez, on Flickr

by Tony Valuez, on Flickr

by Tony Valuez, on Flickr

by Tony Valuez, on Flickr

by Tony Valuez, on Flickr

by Tony Valuez, on Flickr

by Tony Valuez, on Flickr

by Tony Valuez, on Flickr

DSC04214 by Tony Valuez, on Flickr

by Tony Valuez, on Flickr

by Tony Valuez, on Flickr

by Tony Valuez, on Flickr

by Tony Valuez, on Flickr

by Tony Valuez, on Flickr

by Tony Valuez, on Flickr

[TonyTone]

by Tony Valuez, on Flickr

by Tony Valuez, on Flickr

Vehicle crashed into building at Broad & Race

by Tony Valuez, on Flickr

by Tony Valuez, on Flickr

by Tony Valuez, on Flickr

by Tony Valuez, on Flickr

by Tony Valuez, on Flickr

by Tony Valuez, on Flickr

by Tony Valuez, on Flickr

by Tony Valuez, on Flickr

by Tony Valuez, on Flickr

Project in Poplar

by Tony Valuez, on Flickr

New Ace at 9th and Girard

by Tony Valuez, on Flickr

by Tony Valuez, on Flickr

[TempleGuy1000]

Originally Posted by TonyTone

"Market St, and Chinatown will be destroyed if an arena is built"

"Market St and the Surrounding area at 9:18PM from Sunday to Thursday"

Ain't that the truth... The parking lots of the stadium district were rocking though last night! so great for the city! /s

[Gatorade_Jim]

Originally Posted by TempleGuy1000

Ain't that the truth... The parking lots of the stadium district were rocking though last night! so great for the city! /s

I have no patience for people that have blanket opposition to the arena project. The current state of Market East is disgusting and an embarrassment to both the city and the country as a whole when you consider how many tourists every year fly into Philly to see where America was founded only to walk four blocks west into a shit hole in an otherwise vibrant area of the city. It’s astonishing how much the mood changes if you go from 8th and market where all the homeless people like to hang out by the subway stop to three blocks south at 8th and Walnut. The city desperately needs this project to succeed.

[EastSideHBG]

Originally Posted by TonyTone

I’m not your buddy, Friend.

Probably one of the funniest episodes of SouthPark

A classic for sure

Originally Posted by Gatorade_Jim

I have no patience for people that have blanket opposition to the arena project. The current state of Market East is disgusting and an embarrassment to both the city and the country as a whole when you consider how many tourists every year fly into Philly to see where America was founded only to walk four blocks west into a shit hole in an otherwise vibrant area of the city. It’s astonishing how much the mood changes if you go from 8th and market where all the homeless people like to hang out by the subway stop to three blocks south at 8th and Walnut. The city desperately needs this project to succeed.

Sure but plopping an arena there without addressing the issues won't change much in the long run and it could actually make the problems worse e.g. panhandling and homeless congregation could increase. I do think that the pro arena crowd is giving this project just a wee bit too much credit when it comes to being the savior of the area.

It's a project I am not passionate about either way for a multitude of reasons so I am still pretty neutral on the subject at the moment.

[arkitect13]

Have there been any other renderings/information leaked or sent out about the Provincial building and its surrounding area? 1200+ units is huge, and it has amazing potential, plus a rumored 18 story tower that goes with it, I'm surprised it hasn't been talked about (that I've seen) anywhere on the forum yet

[skyhigh07]

Originally Posted by EastSideHBG

A classic for sure

Sure but plopping an arena there without addressing the issues won't change much in the long run and it could actually make the problems worse e.g. panhandling and homeless congregation could increase. I do think that the pro arena crowd is giving this project just a wee bit too much credit when it comes to being the savior of the area.

It's a project I am not passionate about either way for a multitude of reasons so I am still pretty neutral on the subject at the moment.

Helen Gym is against it. That’s all you need to know.

[cardeza]

Originally Posted by summersm343

2022 in Review: After two disastrous years, Center City retail is on the comeback



Article behind paywall here:
https://www.bizjournals.com/philadel...ladelphia.html

all that sounds good, but east of Broad is lagging big time. LOTS of vacancies and very little in the way of active construction in retail sites.