PHILADELPHIA | Lowrise/General Developments Thread

[ScreamShatter]

Originally Posted by Tlphila

A bunch of developments are sprouting up around 6th and Berks.. Although the area does have a lot of PHA stuff mixed in

For sure. Thompson street between 5th and 7th is def getting developed. There's a lot of PHA stuff there, absolutely. It didn't stop development in Francisville though so hopefully it won't stop this area too much either.

There's also a lot of PHA areas in SM too. Both areas will have their challenges bc they don't have a subway or trolley line.

All that said, SM is beautiful. Some of those houses right now the park are stunning. There's definitely an audience who would love to live in houses like that.

[Boku]

Pricey townhouses planned at former Lombard St. garage site near Rittenhouse Square

http://www2.philly.com/philly/busine...-20181011.html

Philadelphia-based developer U.S. Construction Inc. has begun work on a row of eight townhouses with multimillion-dollar price tags at the former site of a parking garage on Lombard Street between 20th and 21st Streets, across the street from the Lombard Swim Club.

U.S. Construction aims have the four-story, 5,000-square-foot houses that make up what it calls the Moderna at Rittenhouse ready for occupancy by August 2019, Jim Onesti, a real estate agent with a Berkshire Hathaway HomeServices unit in Philadelphia, said in an email this week.

The houses, which are to be listed at a starting price of $2.8 million, will have five bedrooms, an office, five full baths, two half-baths, two-car garages, finished basements, elevators, plunge pools and roof decks with outdoor kitchens, Onesti said in a news release, which also mentions the project's eligibility for the city's 10-year property tax abatement for new construction.

[McBane]

Originally Posted by ScreamShatter

For sure. Thompson street between 5th and 7th is def getting developed. There's a lot of PHA stuff there, absolutely. It didn't stop development in Francisville though so hopefully it won't stop this area too much either.

There's also a lot of PHA areas in SM too. Both areas will have their challenges bc they don't have a subway or trolley line.

All that said, SM is beautiful. Some of those houses right now the park are stunning. There's definitely an audience who would love to live in houses like that.

On occasion, Waze navigates me to Fishtown/Kensington (from Manayunk) via Henry Ave to Allegheny to 2nd Street to Master. It's crazy (in a good way) how gentrification is slowly creeping further north and west into what are considered some of Philadelphia's poorest and most violent neighborhoods.

It will be interesting to see where the momentum from Kensington goes. Will people be reluctant to go further away from Center City and past the formidable barrier of Lehigh Ave (and its sketchy overpasses)? Or will the overall stability and safety of Port Richmond be more inviting than the areas immediately to the west towards Temple?

[Larry King]

Originally Posted by McBane

It will be interesting to see where the momentum from Kensington goes. Will people be reluctant to go further away from Center City and past the formidable barrier of Lehigh Ave (and its sketchy overpasses)? Or will the overall stability and safety of Port Richmond be more inviting than the areas immediately to the west towards Temple?

^ all of the above

[mcgrath618]

Originally Posted by Boku

Pricey townhouses planned at former Lombard St. garage site near Rittenhouse Square

http://www2.philly.com/philly/busine...-20181011.html

I feel like a broken record, but:
These look nice, wish they were taller.

[iheartphilly]

Originally Posted by mcgrath618

I feel like a broken record, but:
These look nice, wish they were taller.

Really? For 2.8MM, a very boring design, cookie cutter looking home similar to the next one and next one. Further, Maybe I'm bias, I see Bridgeview on columbus blvd pretty often and that was pretty disappointing. For example, the stained wood they used on the exterior faded in 6 months.

I rather take my 2.8 and buy a place in the Laurel if I won the lottery or something.

[ScreamShatter]

Originally Posted by McBane

On occasion, Waze navigates me to Fishtown/Kensington (from Manayunk) via Henry Ave to Allegheny to 2nd Street to Master. It's crazy (in a good way) how gentrification is slowly creeping further north and west into what are considered some of Philadelphia's poorest and most violent neighborhoods.

It will be interesting to see where the momentum from Kensington goes. Will people be reluctant to go further away from Center City and past the formidable barrier of Lehigh Ave (and its sketchy overpasses)? Or will the overall stability and safety of Port Richmond be more inviting than the areas immediately to the west towards Temple?

I blows me away too -- and I live in the area. BTW -- there is biggest, new development going past Lehigh now. The development is following the subway lines throughout the entire city. We even see development along trolley lines which is why I suspect part of the reason that Girard has been getting more development than Spring Garden.

I still think Norris Square is probably the next big "it" area bc of its location. And it has a lot of housing stock in good condition which will make it like a modern day Fairmont or Fishtown, looks-wise. I'm not sure about SM, West Kensington, or Port Richmond bc they are all a bit isolated from transit. Same is true for Del Ave.

[3rd&Brown]

Originally Posted by McBane

On occasion, Waze navigates me to Fishtown/Kensington (from Manayunk) via Henry Ave to Allegheny to 2nd Street to Master. It's crazy (in a good way) how gentrification is slowly creeping further north and west into what are considered some of Philadelphia's poorest and most violent neighborhoods.

It will be interesting to see where the momentum from Kensington goes. Will people be reluctant to go further away from Center City and past the formidable barrier of Lehigh Ave (and its sketchy overpasses)? Or will the overall stability and safety of Port Richmond be more inviting than the areas immediately to the west towards Temple?

Kensington between Girard and Cecil B Moore (South/Olde Kensington) is very safe. I'd argue Kensington between Cecil B and Lehigh (Norris Square) is also very safe. It really is sketchy only above Lehigh, particularly west/northwest of the EL.

It used to be sketchy east the the EL west of Frankford below Lehigh (East Kensington), but no more.

[Nova08]

WuXi AppTec adds another building at the Navy Yard

https://www.bizjournals.com/philadel...navy-yard.html

Two years after moving into its third building at the Philadelphia Navy Yard, WuXi AppTec is having a fourth building developed for its operations and will round out its growing campus in South Philadelphia.

Once the building is completed late next year, WuXi AppTec will become Liberty’s largest tenant at the Navy Yard, occupying more than 380,000 square feet of space. The company employs more than 600 people at the Navy Yard. The new building will also add to the amount of space life science companies occupy at the Navy Yard. More than 800,000 square feet is dedicated to life science companies that employ 2,500 people there.

Liberty Property Trust (NYSE: LPT) and Synterra Partners is scheduled to break ground next month on a $38 million, 95,000-square-foot office and laboratory building for WuXi AppTec’s advanced therapies business unit. It will be located at 400 Rouse Blvd. and span the size of a city block. Digsau, a Philadelphia architecture firm, designed the building. Kyle Greiert and Greg Soffian of Savills Studley represented WuXi in the lease transaction.

WuXi AppTec first came to the Navy Yard in 2004 when the real estate investment trust completed construction of an 82,000-square-foot building for the company at 4751 League Island Blvd. It has been expanding ever since. It added in 2016 a 55,000-square-foot building at 4000 S. 26th St. By October 2016, it opened a 150,000-square-foot building at 4701 League Island Blvd. that serves as a cell and gene therapy manufacturing facility. The new building will double WuXi’s testing capacity for its cell and gene therapy clients.

Between this and Spark at SY, a pretty good day for the future of the Life Sciences sector in Philly

[Tlphila]

Originally Posted by McBane

On occasion, Waze navigates me to Fishtown/Kensington (from Manayunk) via Henry Ave to Allegheny to 2nd Street to Master. It's crazy (in a good way) how gentrification is slowly creeping further north and west into what are considered some of Philadelphia's poorest and most violent neighborhoods.

It will be interesting to see where the momentum from Kensington goes. Will people be reluctant to go further away from Center City and past the formidable barrier of Lehigh Ave (and its sketchy overpasses)? Or will the overall stability and safety of Port Richmond be more inviting than the areas immediately to the west towards Temple?

Riverwards is doing a 32 unit project at 5th and Norris.. I mean even a year ago that would be considered way out there. I think that whole area of Kensington north Cecil B (below is already spoken for) bt. Temple and N Front has a ton going for it bc it has multiple transit options (El, Temple stop, Broad St line is 5 minute bike ride away). And most important of all, tons of vacant land to develop.. that is the real important factor bc obviously the more vacant the quicker it fills up. Norris Sq does not have a ton of vacant land so I think the change won't be as profound there as on the westside of American St. Ps interesting read below:

https://billypenn.com/2018/10/11/the...ized-corridor/

[Urbanthusiat]

Originally Posted by Nova08

WuXi AppTec adds another building at the Navy Yard

A solid low-rise office. Fits in well at the Navy Yard. Love to see it fill out more. All the more reason to extend the subway!

[iamrobk]

Originally Posted by Urbanthusiat

A solid low-rise office. Fits in well at the Navy Yard. Love to see it fill out more. All the more reason to extend the subway!

Yeah, I used to think this would be a useless waste of resources but business growth at the Navy Yard seems pretty solid (and businesses seem to enjoy being there, by all accounts) so I'd love to see this happen. No idea how many people commute to the Navy Yard from the suburbs, but the subway extension could be the incentive some of them need to move into the city and commute that way instead of driving...

[Urbanthusiat]

Originally Posted by iamrobk

Yeah, I used to think this would be a useless waste of resources but business growth at the Navy Yard seems pretty solid (and businesses seem to enjoy being there, by all accounts) so I'd love to see this happen. No idea how many people commute to the Navy Yard from the suburbs, but the subway extension could be the incentive some of them need to move into the city and commute that way instead of driving...

I generally agree. I'd prefer businesses to locate in the core, but the fact is that not all businesses want to be in the urban core, especially those with large, specialized machinery like WuXi. It's a good thing that Philly can offer different types of office to suit the needs of a wider range of businesses.

[Nova08]

Originally Posted by iamrobk

Yeah, I used to think this would be a useless waste of resources but business growth at the Navy Yard seems pretty solid (and businesses seem to enjoy being there, by all accounts) so I'd love to see this happen. No idea how many people commute to the Navy Yard from the suburbs, but the subway extension could be the incentive some of them need to move into the city and commute that way instead of driving...

At approaching 15,000 workers (IIRC), people are coming from everywhere. The Navy Yard shuttles are very popular.

The lone restaurant, Amis, seems to do pretty well at lunch, happy hour, and even dinner. With the addition of a second hotel and hopefully residential buildings in the future, hopefully the NY will fully round out as 24/7/365 location.

[mcgrath618]

Funny you all should mention extending the BSL...
Philly's New Transportation Plan: CONNECT
https://whyy.org/articles/killing-se...ortation-plan/

Included among those long-term visions are proposals to extend the Broad Street Line to the Navy Yard and to create a new Market-Frankford Line station at 20th Street.

[3rd&Brown]

Originally Posted by Nova08

WuXi AppTec adds another building at the Navy Yard

https://www.bizjournals.com/philadel...navy-yard.html



Between this and Spark at SY, a pretty good day for the future of the Life Sciences sector in Philly

What's this about Spark?

[jsbrook]

Originally Posted by iheartphilly

Really? For 2.8MM, a very boring design, cookie cutter looking home similar to the next one and next one. Further, Maybe I'm bias, I see Bridgeview on columbus blvd pretty often and that was pretty disappointing. For example, the stained wood they used on the exterior faded in 6 months.

I rather take my 2.8 and buy a place in the Laurel if I won the lottery or something.

$2.8 million does not go nearly as far at the Laurel. You get a lot more space and house here. But I agree the design of these is blah and lackluster. I'm sure they'll be great places to live, and this is good for the city. But the exterior is fairly lousy. Atrium did a FAR better job with the Novo development near the Mormon church. http://www.atriumdesigngroup.com/portfolio/novo/

[Nova08]

Originally Posted by 3rd&Brown

What's this about Spark?

Thought it could be a commitment to space in one of the larger SY buildings, but it just appears to be more details about their plans for space they already signed for in the Bulletin building back at the end of 2017

[McBane]

Originally Posted by jsbrook

$2.8 million does not go nearly as far at the Laurel. You get a lot more space and house here. But I agree the design of these is blah and lackluster. I'm sure they'll be great places to live, and this is good for the city. But the exterior is fairly lousy. Atrium did a FAR better job with the Novo development near the Mormon church. http://www.atriumdesigngroup.com/portfolio/novo/

I find it hard to believe that such a spacious, over-the-top luxury home can be housed in such an ugly, cheap looking exterior. Regardless, another point to consider is that high rise living (read: shared spaces) isn't for everyone, especially in Philadelphia where there such a large inventory of townhouses, both old and new. No doubt at this price point, condo fees (which are probably more than most of our rents/mortgages) are a negligible difference but it's still worth mentioning that could be a factor for some buyers.

[iheartphilly]

Originally Posted by McBane

I find it hard to believe that such a spacious, over-the-top luxury home can be housed in such an ugly, cheap looking exterior. Regardless, another point to consider is that high rise living (read: shared spaces) isn't for everyone, especially in Philadelphia where there such a large inventory of townhouses, both old and new. No doubt at this price point, condo fees (which are probably more than most of our rents/mortgages) are a negligible difference but it's still worth mentioning that could be a factor for some buyers.

JSBrook and McBane- I'm just not a fan of town-homes in the city. Personally, I don't like multi-level living and a small rectangular footprint (e.g., 15x40) and these homes butting up to the street with small sidewalks and no privacy. True story-a guy was charging his cell phone for well over an hour on my outlet outside of my front entrance. Creepy. With a town home, you get 3-5 floors and yes you get the square footage, but I'm a fan of large floor plates like 1500sq ft to 2000sq ft in a 2-3 bedroom and small office configuration with a large open kitchen/dining/living area. Plus having skyline views is a bonus. Doesn't have to be the highest floors. 2.8 MM can't get me that in the Laurel. I'm not asking for the penthouse...LOL.