PHILADELPHIA | Schuylkill Yards Future Phases | 1,095 - 375 FT | 70 - 28 FLOORS - Page 56

City Wide · #**1101** Posted **Jul 23, 2018, 5:38 PM**

Quote:

Originally Posted by mcgrath618

Drexel does get tax breaks for the land. The main reason they’re involved is because they want to expand, along with making that area more inviting and less... ugly grey. It’s kind of a stain on their campus, especially when admissions is so close by.

I've got no reason to doubt that Drexel and Brandywine know what their are doing, but the 'partnership' agreement between those 2 parties would be interesting to look at, well maybe to somebody who is well versed in real estate law. The whole Schuylkill Yards site seems to be a strange mix between Drexel and Brandywine. B certainly owns some of the properties outright, others are apparently owned by D but land leased to B, and then D owns others, such as the old Bulletin building, that who knows what B's stake is in that list of properties.

For what it's worth, Penn has a large and very successful 'for profit' real estate arm, and in general a non-profit still has to pay all sorts of taxes on 'involvements' that make money. That apparently can get tricky when Penn rents out space in one of their academic buildings to café operation. Years ago when I did work for Penn the whole process of bidding and how the job was run and getting paid were completely different depending on whether the site was academic of run by their real estate department.

christof · #**1102** Posted **Jul 24, 2018, 5:26 PM**

I just hope one of these towers have an outdoor waterfall, like the one in China. Anyone else read about that new tower?

johnm164 · #**1103** Posted **Jul 24, 2018, 9:17 PM**

Quote:

Originally Posted by christof

I just hope one of these towers have an outdoor waterfall, like the one in China. Anyone else read about that new tower?

Saw that today on Reddit. Very strange

Link for those interested

https://www.reddit.com/r/CityPorn/co..._name=CityPorn

volguus zildrohar · #**1104** Posted **Jul 26, 2018, 1:00 AM**

Quote:

Originally Posted by SEFTA

I'm wondering if that new sunken entrance planned across 30th street, SW corner of the apron, will replace the existing El station in pic. Is there any plans for that station?

The new entrance at the apron would be additional. SEPTA spent a lot of money installing that elevator a decade ago at the current headhouse so it isn't going anywhere.

mcgrath618 · #**1105** Posted **Oct 1, 2018, 6:27 PM**

While I don't have any pictures yet, the park is coming along quite nicely. I have classes in the Bulletin building and construction has certainly started there too.

iheartphilly · #**1106** Posted **Oct 1, 2018, 10:09 PM**

Quote:

Originally Posted by mcgrath618

While I don't have any pictures yet, the park is coming along quite nicely. I have classes in the Bulletin building and construction has certainly started there too.

If you are every in between classes and have your smart phone on you, snap a few and share it. I'm certainly interested in periodic photo updates and others, I'm sure. Thanks.

mcgrath618 · #**1107** Posted **Oct 3, 2018, 5:03 PM**

Managed to snap a few pics on my way to class:
https://imgur.com/a/hAEKGyG

Sorry for image size.
I also talked to the receptionist and she says that construction on the Bulletin Building should start as soon as the park is complete, which is looking like Mid-November. She at least said that it should begin by the end of this year.

Londonee · #**1108** Posted **Oct 4, 2018, 7:49 PM**

Quote:

Originally Posted by mcgrath618

I also talked to the receptionist and she says that construction on the Bulletin Building should start as soon as the park is complete, which is looking like Mid-November. She at least said that it should begin by the end of this year.

Does that include the exterior renovation and the cool LED screen on the Bulletin Building? Or is this just internal modernization/renovation work?

mcgrath618 · #**1109** Posted **Oct 4, 2018, 9:34 PM**

Quote:

Originally Posted by Londonee

Does that include the exterior renovation and the cool LED screen on the Bulletin Building? Or is this just internal modernization/renovation work?

Both. The woman told me that the main entrances would be closed completely.

Mr Saturn64 · #**1110** Posted **Oct 5, 2018, 3:55 AM**

Good! Park looks like it's almost done. Should be nice next spring.

Jawnadelphia · #**1111** Posted **Oct 5, 2018, 12:05 PM**

^Until I see some tall, large ass trees -- it's just a lawn!

Philly Fan · #**1112** Posted **Oct 5, 2018, 1:35 PM**

Quote:

Originally Posted by TallCoolOne

^Until I see some tall, large ass trees -- it's just a lawn!

It's not even a jawn?

Nova08 · #**1113** Posted **Oct 11, 2018, 5:55 PM**

First commercial tenant?

Spark Therapeutics to add up to 500 jobs in West Philadelphia expansion

https://www.bizjournals.com/philadel...s-in-west.html

Quote:

Spark Therapeutics Inc. said Thursday it is expanding its research-and-development operations in West Philadelphia in a move expected to create nearly 500 high-paying jobs.

The gene therapy company spun out of Children's Hospital of Philadelphia is getting a $2 million Department of Community and Economic Development grant and a $7.5 million grant from the Redevelopment Assistance Capital Program to support the project.

Spark's new site will be located on Market Street in Brandywine Realty Trust's $3 billion Schuylkill Yards development project with Drexel University. The company's existing offices are at 3737 Market St.

“This expansion is proof of our continued commitment to research, development, and innovation in West Philadelphia and of our determination to offer new genetic treatments for people living with genetic diseases," said Co-founder and CEO Jeffrey D. Marrazzo.

The Food and Drug Administration approved Spark's first gene therapy product, Luxturna, last year. The one-time treatment is for patients suffering from an inherited retinal disorder that leads to blindness.

Marrazzo noted Spark Therapeutics (Nasdaq: ONCE) is the only company in the United States "dedicated solely to discovering, developing and delivering gene therapies for genetic diseases" with an FDA-approved product. "We owe our success to decades of research in the field of gene therapy and to the time, energy and talent of our workforce, which has grown to a team of approximately 350 employees worldwide with the vast majority of our workforce based here in Philadelphia."

The company’s pipeline of potential new gene therapies includes products in preclinical and clinical testing that target other eye disorders, hemophilia, Pompe disease and Huntington disease.

The funding package the company received was coordinated by the Governor’s Action Team in collaboration with the city of Philadelphia and the Philadelphia Industrial Development Corp.

“Spark Therapeutics’ decision to expand in the commonwealth is more evidence that we are building a state with the access to high-quality education and the skilled workforce necessary to support our life science and high-tech companies,” said Gov. Tom Wolf, in a statement. “In addition to creating hundreds of additional high-paying jobs at the new facility, the project will help spur further development at Schuylkill Yards that will provide even more economic benefit to the area.”

Philadelphia Mayor Jim Kenney called the company's decision to stay in West Philadelphia a "huge win" for the city.

“It is always great to see a homegrown company succeed, and as a leader in their industry, we know that Spark has the potential to keep this momentum going for years to come," Kenney said,

mcgrath618 · #**1114** Posted **Oct 11, 2018, 6:10 PM**

That's big news. We should expect at least one building to move forward soon.

Boku · #**1115** Posted **Oct 11, 2018, 6:30 PM**

I thought Spark signed a lease last December for space in the revamped Bulletin Building? Is this for the same space or are they building something entirely new?

Nova08 · #**1116** Posted **Oct 11, 2018, 6:41 PM**

Quote:

Originally Posted by Boku

I thought Spark signed a lease last December for space in the revamped Bulletin Building? Is this for the same space or are they building something entirely new?

Good catch, they signed for ~107,000 sq ft of space there back in Dec '17 so this is likely not anything new, just more firm details and employee counts.

Tlphila · #**1117** Posted **Oct 19, 2018, 3:03 PM**

https://www.cnbc.com/2018/10/19/amaz...st-cities.html

No love for Philly!

Urbanthusiat · #**1118** Posted **Oct 19, 2018, 3:19 PM**

Quote:

Originally Posted by Tlphila

https://www.cnbc.com/2018/10/19/amaz...st-cities.html

No love for Philly!

Wouldn't put too much stock in anything like that. Just wait for the announcement. It's coming soon.

Philly Fan · #**1119** Posted **Oct 19, 2018, 3:41 PM**

Quote:

Originally Posted by Urbanthusiat

Wouldn't put too much stock in anything like that. Just wait for the announcement. It's coming soon.

Also, it could just be that Philly's done a better job of keeping quiet about any follow-up visits.

mcgrath618 · #**1120** Posted **Oct 19, 2018, 4:01 PM**

I won't be upset if they don't choose us for Chicago or even Raleigh.
I will be incredibly upset if they don't choose us for NoVa.