PHILADELPHIA-CAMDEN-WILMINGTON-ATLANTIC CITY-READING | Metro Development Thread

[jonesrmj]

I have a question. How come back in the 1970s-80s when the Hercules Tower was being planned, why, just why would they abandon the plan to build a 42 floor, 600+ feet tower in Wilmington:



In exchange for this ugly 12 floor building that was not so successful:



It just baffles me that Wilmington would abandon such an ambitious project that would help jumpstart a great skyline into this ugly 12 story building that failed and is now vacant a couple decades later? I really do hope that we could see another ambitious project like this soon and that it would actually get built.

To read more about this proposal -> https://townsquaredelaware.com/2012/...-were-going-6/

[Brandywine Rocks]

Originally Posted by jonesrmj

I have a question. How come back in the 1970s-80s when the Hercules Tower was being planned, why, just why would they abandon the plan to build a 42 floor, 600+ feet tower in Wilmington:

It just baffles me that Wilmington would abandon such an ambitious project that would help jumpstart a great skyline into this ugly 12 story building that failed and is now vacant a couple decades later? I really do hope that we could see another ambitious project like this soon and that it would actually get built.

The same reason most devlopments dont see the light of day.

Lack of funds.

Money was hard to come by in the 70's . Interest rates got up to 13%. Peaked above 20% in the 80's. They are basically giving money away nowadays compared to the past. One of the reason theres so much development across the city,country, globe.

[hammersklavier]

Originally Posted by summersm343

Equus buys Lansdale station site for 181-unit apartment complex





http://www.philly.com/philly/busines...-20171025.html

Haven't they been talking about that project for, like, most of the past decade?

[summersm343]

SEPTA advances plan for NHSL extension to King of Prussia, but some residents aren’t on board

Read more here:
http://planphilly.com/articles/2017/...ren-t-on-board

[summersm343]

Chemours moves R&D to university campus

Chemours, the Wilmington-based company that operates DuPont’s former refrigerants, mining cyanide and titanium dioxide businesses, says it plans to move its research-and-development operations from the DuPont Experimental Station outside Wilmington and other ex-DuPont sites to a new $150 million building at the former Chrysler factory site at the University of Delaware in Newark.

The glass-walled, 312,000-square-foot building will house 330 staff members, including research scientists and technicians, spokeswoman Alvernia Scarborough said. Chemours plans to break ground in December. Delaware Gov. John Carney and other elected officials cheered Chemours’ move. The company has so far announced no initial state or local government subsidies for the project, which is to be completed in 2020.

Read more here:
http://www.philly.com/philly/blogs/i...-20171030.html

[Mr Saturn64]

Originally Posted by summersm343

SEPTA advances plan for NHSL extension to King of Prussia, but some residents aren’t on board

Read more here:
http://planphilly.com/articles/2017/...ren-t-on-board

This is something that absolutely needs to happen. It would be so great for people who live in the city and work at KoP, and for tourists to get there easier. I know there are a lot of NIMBYs there. I just hope it works out.

[jonesrmj]

Originally Posted by Brandywine Rocks

The same reason most devlopments dont see the light of day.

Lack of funds.

Money was hard to come by in the 70's . Interest rates got up to 13%. Peaked above 20% in the 80's. They are basically giving money away nowadays compared to the past. One of the reason theres so much development across the city,country, globe.

I guess I could agree with that. This did make me very disappointed because this would have been a major icon for Wilmington. I do want to ask, when do you think we will finally see more skyscraper development here? I get that there is not the demand now, but when will there be?

[1487]

Originally Posted by Mr Saturn64

This is something that absolutely needs to happen. It would be so great for people who live in the city and work at KoP, and for tourists to get there easier. I know there are a lot of NIMBYs there. I just hope it works out.

no matter what route is chosen some people will be against it- but that doesn't mean it wont move forward. Funding is a much bigger issue than a few hundred angry upper merion residents. They would never support any sort of public transit extension no matter what. The option presented doesn't even infringe on private property for the most part.

[domodeez]

From last week:

Window framing going in at the first building's retail space:



Wood framing going up quickly for the second building:

[domodeez]

Foundation for this plaza was poured last week!

[domodeez]

Meant to share this shot from 2 weeks ago of the DuPont Building's marquee (?) coming down:

[summersm343]

Toll Brothers to build condo project in KoP

Toll Brothers Inc. is planning to construct a 60-unit condominium complex at the Village at Valley Forge, adding to a for-sale project the homebuilder is currently developing at that King of Prussia, Pa., mixed-use community.

The condominium building, which will cost between $30 million to $40 million to develop, will be constructed on about two acres Toll Brothers (NYSE: TOL) recently bought. The land is located roughly behind the Children’s Hospital of Philadelphia's King of Prussia specialty care and surgery center. While the Horsham, Pa., homebuilder still needs to go through the approval process in Upper Merion, the residential project is a by-right use. The company expects to be under construction within the next four months.

Toll Brothers already has a residential project underway at the Village at Valley Forge called the Brownstones, which involves 132 stacked townhouses in 11 buildings. Sales have been brisk at the Brownstones and proven to the developer that there’s a market at the Village at Valley Forge for additional for-sale units, said Chuck Breder, division president at Toll Brothers. So far, 40 of the townhouses have sold and prices range between $400,000 and $500,000 depending on the unit size and location.

https://www.bizjournals.com/philadel...ia-condos.html

[summersm343]

Harvey Hanna plans upwards of $150M redevelopment of former GM plant

It would only seem befitting that Harvey Hanna & Associates Inc. would acquire the former General Motors plant that sits on 142 acres off Boxwood Road in Wilmington, Del., and come up with plans to spend upwards of $150 million to redevelop the old industrial property.

The developer's plans are still being finalized and Hanna said he plans to get input from the community as they evolve. At this point, preliminary plans have Harvey Hanna focusing on leasing it to companies who need warehouse-distribution space as well as to manufacturers who need room to expand but have few nearby options. In all, Hanna estimates between $100 million to $150 million will be spent redeveloping the former Boxwood factory and that an estimated 2,000 construction jobs will be generated with another 2,000 to 3,000 in new, permanent jobs will be created as it leases up.

https://www.bizjournals.com/philadel...ilmington.html

[Larry King]

Originally Posted by summersm343

Toll Brothers to build condo project in KoP



https://www.bizjournals.com/philadel...ia-condos.html

Pretty incredible, looks like new KOP condos command similar prices to projects in greater center city. The stacked townhouses they built up there look straight out of grad hospital.

[Nova08]

Originally Posted by Larry King

Pretty incredible, looks like new KOP condos command similar prices to projects in greater center city. The stacked townhouses they built up there look straight out of grad hospital.

IMO the area between Conshohocken and KOP is a suburban sweet spot. Even though KOP is well on it's way to gridlock, the location is hard to beat. All of the shopping/dining around KOP, not that far from Philly via train/car, not that far from the airport, great access to the turnpike/76/476, great schools

[Urbanthusiat]

Looks like there's no hope of keeping the Riversharks stadium. I do think some nice athletic fields for Rutgers would be a better use, though. A competitive Rutgers is good for South Jersey. Getting students out an about around there area will give it some life and make office/retail developments nearby more attractive.

Political leader: Camden waterfront stadium will be razed

CAMDEN, N.J. (AP) - A New Jersey political leader said that he believes a baseball stadium once considered a linchpin for the redevelopment of the Camden waterfront will be demolished.

George Norcross said Tuesday that the 6,700-seat Campbell's Field will be demolished "in the not-too-distant future." The stadium has been mostly unused since the Camden Riversharks independent league baseball team folded in 2015.

The Courier Post reported Norcross also said the demolished stadium will make way for new athletic fields for Rutgers University, which now uses the stadium for its baseball team.

http://www.philly.com/philly/news/ne...cb7d77955.html

[Larry King]

Originally Posted by Urbanthusiat

Looks like there's no hope of keeping the Riversharks stadium. I do think some nice athletic fields for Rutgers would be a better use, though. A competitive Rutgers is good for South Jersey. Getting students out an about around there area will give it some life and make office developments nearby more attractive.

Political leader: Camden waterfront stadium will be razed



http://www.philly.com/philly/news/ne...cb7d77955.html

Still think that should be the site of 76ers Arena

[summersm343]

PREIT secures tenants to replace Macy's at Moorestown Mall

Moorestown Mall, which lost its anchor department store Macy’s earlier this year, plans to replace it with two value retailers in 2018, according to mall owner Pennsylvania Real Estate Investment Trust (PREIT).

PREIT plans to release an official statement on the changes Wednesday, on the eve of its third quarter earnings call on Thursday.

The incoming retailers – one described as an off-price home furnishings store — will occupy 25,000 square feet of the former Macy’s space, and the second, an off-price outdoor gear retailer, will take up another 18,000 square feet.

Both are new to the Philadelphia market, according to PREIT.

Read more here:
http://www.philly.com/philly/busines...-20171101.html

[summersm343]

Loan lined up for Bala Cynwyd development

Cross Properties has secured a $30 million loan to begin construction of an apartment development in Bala Cynwyd, Pa.

The project at 10 Union Ave. at North Bala Avenue will be called the Kelly after Philadelphia native and actress Grace Kelly. The project will total 140,000 square feet over four levels and have 109 apartments. A 9,000-square-foot roof deck will be among the amenities built into the design.

The Kelly will be the first of three developments Cross Properties plans to undertake as it looks to transform Bala Avenue and activate it with more residential and retail development.

The other two projects are: One Cynwyd, which will have 74 apartments along with 7,000 square feet of ground-floor retail space; and 202 Bala, which will have 86 residential units and 6,650 square feet of ground floor retail space along Bala Avenue. Both of those projects are going through the local approval process.

https://www.bizjournals.com/philadel...roperties.html

[Mr Saturn64]

Originally Posted by Urbanthusiat

Looks like there's no hope of keeping the Riversharks stadium. I do think some nice athletic fields for Rutgers would be a better use, though. A competitive Rutgers is good for South Jersey. Getting students out an about around there area will give it some life and make office developments nearby more attractive.

Political leader: Camden waterfront stadium will be razed



http://www.philly.com/philly/news/ne...cb7d77955.html

Dammit. I like that place. That, and Minor League Baseball would be great for Camden with the Aquarium next door.

Originally Posted by Larry King

Still think that should be the site of 76ers Arena

Why? Why would they want to be in NJ when most of their fans are over here in PA?