PHILADELPHIA | Lowrise/General Developments Thread

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Apartments and Homes Moving Forward on the Edge of Port Richmond

Current site of 2202 E. Allegheny Avenue:


Renderings of 2202 E. Allegheny Avenue project:






Read/view more here:
https://www.ocfrealty.com/naked-phil...-port-richmond

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A Shift to Short-term for Nearly Finished Project at Broad & Bainbridge

701 S. Broad Street project updates:




Read/view more here:
https://www.ocfrealty.com/naked-phil...oad-bainbridge

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We’re Banking on 13 New Units at 10th & Catharine

Previous view of the site:


Current view of the site:


Project rendering:


Read/view more here:
https://www.ocfrealty.com/naked-phil...10th-catharine

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Edgewater II Progressing Well on Former Logan Square Parking Lot

Project rendering:


Current progress:


Read/view more here:
https://www.ocfrealty.com/naked-phil...re-parking-lot

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Tiny Home Community for the Homeless Approved by Zoning Board of Adjustment

Read/view more here:
http://www.rising.realestate/tiny-ho...of-adjustment/

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40-Unit Building to Replace Germantown Parking Lot

Read/view more here:
http://www.rising.realestate/40-unit...n-parking-lot/

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Comcast veteran moves South Jersey venture capital firm to Center City

Venture capitalfirm Touchdown Ventures has moved from South Jersey to Center City, looking to be closer to Philadelphia's universities and talent pool

Touchdown Ventures manages venture funds and makes investments on behalf of almost 20 large corporations including Conshohocken-based AmerisourceBergen Corp. (NYSE: ABC) and Exton-based Bentley Systems (NASDAQ: BSY). It has grown from a team of three at its founding in 2014 to over 50, with two offices in California along with the new Philadelphia office at 1628 John F. Kennedy Blvd.

Touchdown Ventures had been searching the Philadelphia office market since before the pandemic but put those plans on hold and stuck to its base in Haddonfield. Once offices began to open up, CEO David Horowitz and his team were ready to implant themselves in the city.

A veteran of the venture capital industry, Horowitz's new home is not far from his old one. He was one of the first employees on the Comcast Ventures team in 2000 and Touchdown Ventures new office now overlooks the media giant's headquarters. Horowitz also started the South Jersey Tech Collective and spent 14 years at Comcast before founding Touchdown Ventures.

The firm is subleasing 7,000 square feet from Curalate, a startup that raised over $40 million in VC funding before being acquired by Austin-based Bazaarvoice in 2020. The lease has four years remaining.

Horowitz said that a substantial chunk of his team lives in Philadelphia or in nearby suburbs, making Center City a desirable location. He hopes that number can grow and believes the new Philadelphia office is a chance to further embed Touchdown Ventures in the Philadelphia VC scene.

Read more here:
https://www.bizjournals.com/philadel...nter-city.html

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Hilco expands holdings at Bellwether site with $36.5M purchase of two adjacent properties

An 11.4-acre industrial property in Southwest Philadelphia near the planned Bellwether District was recently purchased for $35 million by an entity affiliated with Hilco Redevelopment Partners, the company behind the ambitious project.

The nearly 70,000-square-foot warehouse at 1600 S. Warfield St. sits just north of the edge of the former Philadelphia Energy Solutions refinery site, which altogether spans 1,300 acres and shuttered after an explosion and massive fire at the site in June 2019.

Property records show HRP also recently paid $1.5 million for an adjacent parcel at 3433 Moore St., which shares the same lot as 1600 S. Warfield St. The property spans 1.5 acres.

HRP purchased the properties from Staten Island-based BP Real Estate Fund. The 1600 South Warfield property last sold in 2005 for $2.4 million and the Moore Street space for $600,000 in 2004, according to property records.

HRP, part of Chicago-based Hilco Global, declined to comment on the deals.

Ryan Guittare, who represented the seller, said that the site was a "logical bolt onto the holdings that HRP already has."

"It's basically the front door to the Bellwether District," said Guittare, a broker for Newmark. "It could be used as covered land or redevelopment eventually, but I think leaving it as is is the immediate answer."

HRP is working to transform the old refinery site in Philadelphia into a 15-million-square-foot life sciences, e-commerce, and logistics campus. The development is projected to generate 19,000 permanent jobs. The entire redevelopment is expected to take 10 to 15 years, with HRP previously saying it expected tenants to begin moving into the site in 2023.

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

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Hopeworks expands to Philadelphia, opening office in Kensington after $600,000 investment

Hopeworks, which trains young people from underrepresented groups for tech jobs, is expanding to Philadelphia with a $600,000 investment from the Boston-based GreenLight Fund.

The Camden nonprofit will use the funding from Greenlight to tap into Philadelphia's growing tech scene. The investment, which will come over four years, allows Hopeworks to open an office at the J-centrel mixed-use community in Kensington and outfit it with the necessary resources and equipment to mirror its operation in Camden.

Hopeworks prepares young people ages 16 to 27 for careers in tech, brings them onto the Hopeworks' web design team, then helps them secure a job through various partnerships with companies like Comcast, Dell, JPMorgan Chase, the NBA Foundation and American Water. It trains over 100 kids annually from Camden, helping them secure entry level jobs with an average salary of more than $43,000 per year.

Hopeworks, founded in 1999, expects to place about 60 participants into full-time jobs in its first year in Philadelphia, growing to over 100 by its second year. Rhoton said, based on the average salary, that comes to about $2.4 million and $4.3 million in wages, respectively.

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

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Permits Issued For 3632-34 Germantown Avenue In Temple Hospital Area

Permits have been issued for a multi-family renovation at 3632-34 Germantown Avenue in Hunting Park, North Philadelphia. The four-story building will receive interior modifications on its upper floors to create 13 residential units, while the ground floor will continue to serve host as a commercial space. In total, the building spans 25,500 square feet of space, with construction costs estimated at $2.5 million.

Read/view more here:
https://phillyyimby.com/2022/10/perm...ladelphia.html

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Facade Assembly Underway At 720-30 West Berks Street Near Temple University (in Hartranft)

Philly YIMBY’s recent site visit has revealed that construction has entered the facade assembly stage at a three-story, 44-unit multi-family building at 720-30 West Berks Street in North Philadelphia East near Temple University. The development, situated at the southwest cornet of West Berks and North Franklin streets, will span 41,302 square feet upon completion, and will feature full sprinkling. Permits list T N Ward Company as the contractor and a construction cost of $5.9 million.

Read/view more here:
https://phillyyimby.com/2022/10/cons...niversity.html

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Excavation Underway At 841-51 South 2nd Street In Queen Village

A recent site visit by Philly YIMBY’s recent visit noted that excavation work is underway at the site of a proposed four-story, 42-unit mixed-use building at 841-51 South 2nd Street in Queen Village, South Philadelphia. The structure will rise at the northeast corner of 2nd and Christian streets. Designed by Harman Deutsch Ohler Architecture, the development will span 54,313 square feet, with a plaza at the street corner and retail on the ground floor, as well as a roof deck. Permits list Indian Harbour Asset Management LLC as the contractor and a construction cost of $6.79 million.

Read/view more here:
https://phillyyimby.com/2022/10/exca...ladelphia.html

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Renderings Revealed For 800-30 Vine Street In Chinatown

Renderings have been revealed for a five-story, 51-unit multi-family development located at 800-30 Vine Street in Chinatown, Center City. Designed by WRT Design and developed by Pennrose, the development will feature units designated as affordable housing for senior citizens and will include parking for 11 cars.

Read/view more here:
https://phillyyimby.com/2022/10/rend...nter-city.html

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Construction Progresses At 943-49 Washington Avenue In Bella Vista

A recent site visit by Philly YIMBY has revealed significant construction progress at a five-story, 24-unit residential develoment at 943-49 Washington Avenue in Bella Vista, South Philadelphia. The development rises on the northeast corner of the intersection of Washington Avenue and South 10th Street. An extension will be added to the structure, which will stand a total of five stories tall upon completion and contain 24 residential units. Permits list TBC LLC as the contractor, with Lonny Rossman as the design professional. The building will hold 29,535 square feet of space and cost an estimated $4.2 million to build.

Read/view more here:
https://phillyyimby.com/2022/10/cons...ladelphia.html

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Construction Complete At 3401 Wallace Street In Mantua

A recent site visit by PPhilly YIMBY has revealed that construction is complete at a four-story, 12-unit multi-family structure at 3401 Wallace Street in Mantua, West Philadelphia. Certain apartments will have access to private roof decks. Sweeping views of the skyline will likely be available from the top floor, spanning from University City to Center City and beyond. The property sits at the northwest corner of Wallace and 34th streets. The 15,755-square-foot building will cost an estimated $2.5 million to build. 3401 Wallace LLC is the listed owner.

Read/view more here:
https://phillyyimby.com/2022/10/cons...ladelphia.html

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YIMBY Takes An In-Depth Look At Venice Island At 4436-44 Main Street In Manayunk

Read/view more here:
https://phillyyimby.com/2022/10/yimb...ladelphia.html

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Construction Underway At 4112 Lancaster Avenue In Haverford North

A recent site visit by Philly YIMBY has discovered that construction work is making headway at a four-story, 37-unit mixed-use building at 4112 Lancaster Avenue in Haverford North, West Philadelphia. The project is situated on the southwest side of the block between North 41st and Aspen streets. The development will span 43,791 square feet and feature commercial space on the ground floor and a green roof, which allowed developers to build to a greater density. Construction costs are listed at $6.8 million.

Read/view more here:
https://phillyyimby.com/2022/11/cons...ladelphia.html

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Construction Makes Headway At Ridge Flats In East Falls

Philly YIMBY’s recent site visit has noted significant construction progress at Ridge Flats, a five-story mixed-use project rising at 4300-26 Ridge Avenue in East Falls, Northwest Philadelphia. Designed by Morris Adjmi Architects, the 180,879-square-foot development will contain around 10,000 square feet of retail space, 142 residential units, 117 partially covered surface parking spaces, and a green roof. Permits list Kinsley Construction as the contractor. The construction cost is stated at $30.5 million.

Read/view more here:
https://phillyyimby.com/2022/11/cons...ladelphia.html

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[TonyTone]

That Tiny home for the homeless project is so redundant, are you serious telling me its easier to build some new tiny homes compared to fixing up abandoned Rowhomes and lots? cmon now what's up with the obsession with destroying every single thing and not fixing it up.

And yea I know im part of the camp of building new is better sometimes, however we still can reuse the structures we have, fix and rebuild the empty lots, is that hard to do for the city?