PHILADELPHIA | Lowrise/General Developments Thread

[Jayfar]

Originally Posted by Urbanthusiat

More info not in the Inquirer article:



https://www.bizjournals.com/philadelphia/

Uh, so far the Biz Journal article only quotes the Inquirer article. All of that info *IS* in the Inquirer article. Maybe the Business Journal will have more later, but at the moment no.

[PhilliesPhan]

Originally Posted by Urbanthusiat

More info not in the Inquirer article:



https://www.bizjournals.com/philadelphia/

I was initially going to say that the police HQ should've stayed at this building, but I'm really liking what I'm hearing from the PBJ article! I live in Garden Court and catch the El to work each day at 46th Street, so seeing the Provident Mutual Building come back to life will be exciting. The most exciting part, however, is the addition of elements that will activate the the area surrounding the building. The entire intersection of 46th/Farragut and Market is a huge dead zone. If the Provident Mutual Building can be redeveloped correctly, then it may be possible that the large lot on the SW corner of the intersection could be redeveloped into something significant, starting a building boom up the under-utilized Market Street corridor (specifically between 46th and 52nd Streets)!

[Groundhog]

So I'm jumping into the investment property market after a few years hiatus (aside from reading this forum of course). It's been a while since this topic has come up so, I'd love to get peoples takes while there's a relative lull. What are your thoughts in top investment markets? I'm thinking under $300k properties, my top picks are:

- Mantua/Powelton - Jon Frey doesn't mess around, there's the grocery that is still supposed to be built up that way and, of course for the optimists, the potential of an HQ2 decision
- Point Breeze (if your lucky)/Grays Ferry - blowing up like crazy but the movement on Washington Ave is finally picking up to hopefully create a few destinations, also, once the river trail connects to Grays Ferry and the recycling center moves, that area is going to be gold!
- Kensington/Templetown - the perpetual momentum up the El and out from Temple have to connect and I' think it'll happen sooner than later

I feel like Brewerytown and Francisville have already blown up and are likely out of my price range for the most part, but Girard Ave is looking stronger by the month. I don't really get Port Richmond as an investment neighborhood (but then again, I didn't see Fishtown and missed that boat entirely). Again, would love to get your thoughts.

[Jayfar]

Originally Posted by PhilliesPhan

…but I'm really liking what I'm hearing from the PBJ article!

You mean Inquirer article. Although PBJ often is ahead of other media outlets, in this instance, as I pointed out a few posts back, their piece consists entirely of quoting and paraphrasing from the Inquirer article, Urbanthusiat's incorrect claim of additional info notwithstanding. Sorry to belabor the point, but I'm kind of a stickler for correct attribution.

[Urbanthusiat]

Originally Posted by Jayfar

You mean Inquirer article. Although PBJ often is ahead of other media outlets, in this instance, as I pointed out a few posts back, their piece consists entirely of quoting and paraphrasing from the Inquirer article, Urbanthusiat's incorrect claim of additional info notwithstanding. Sorry to belabor the point, but I'm kind of a stickler for correct attribution.

My bad. I only read the quote from the original poster, which didn’t have all of the information. I assumed that if that other info had been in the inquirer’s article that the other poster would have included it.

[Jayfar]

Originally Posted by Urbanthusiat

My bad. I only read the quote from the original poster, which didn’t have all of the information. I assumed that if that other info had been in the inquirer’s article that the other poster would have included it.

Nope, out of respect for intellectual property rights, I'll never include the full article, generally at most several paragraphs and then a link. Even then I'm possibly stretching fair use doctrine a bit.

[McBane]

Originally Posted by Groundhog

So I'm jumping into the investment property market after a few years hiatus (aside from reading this forum of course). It's been a while since this topic has come up so, I'd love to get peoples takes while there's a relative lull. What are your thoughts in top investment markets? I'm thinking under $300k properties, my top picks are:

- Mantua/Powelton - Jon Frey doesn't mess around, there's the grocery that is still supposed to be built up that way and, of course for the optimists, the potential of an HQ2 decision
- Point Breeze (if your lucky)/Grays Ferry - blowing up like crazy but the movement on Washington Ave is finally picking up to hopefully create a few destinations, also, once the river trail connects to Grays Ferry and the recycling center moves, that area is going to be gold!
- Kensington/Templetown - the perpetual momentum up the El and out from Temple have to connect and I' think it'll happen sooner than later

I feel like Brewerytown and Francisville have already blown up and are likely out of my price range for the most part, but Girard Ave is looking stronger by the month. I don't really get Port Richmond as an investment neighborhood (but then again, I didn't see Fishtown and missed that boat entirely). Again, would love to get your thoughts.

I personally believe in Germantown. Lots of properties well below the $300k range. It's close to established, wealthier enclaves and Wissahickon Park; decent access to Center City; great bones overall with lots of very impressive housing stock in need of TLC; and a great cobblestoned main street in Germantown Ave. The one thing it has going against it is that it sits outside of the typical gentrification paths fanning out from Center City (e.g., Old City to the River Wards). There isn't the same type of momentum generating from Chestnut Hill and Mount Airy or even Manayunk/Rox. But I do know people who got priced out of the River Wards and wanted more space to raise a family and ended up in Germantown.

[PhillyEngineer]

A couple pics of the FDP movie theater construction taken 8/20/2018:

[Groundhog]

Originally Posted by McBane

I personally believe in Germantown. Lots of properties well below the $300k range. It's close to established, wealthier enclaves and Wissahickon Park; decent access to Center City; great bones overall with lots of very impressive housing stock in need of TLC; and a great cobblestoned main street in Germantown Ave. The one thing it has going against it is that it sits outside of the typical gentrification paths fanning out from Center City (e.g., Old City to the River Wards). There isn't the same type of momentum generating from Chestnut Hill and Mount Airy or even Manayunk/Rox. But I do know people who got priced out of the River Wards and wanted more space to raise a family and ended up in Germantown.

Yes, I see a lot of momentum moving into Mt Airey and I believe in Germantown in the long run. I'm not sure about rentals there right now due to it's location and focus on more families (that's a much more cautious group of gentrifiers unless there's an amazing new school catchment ala Penn Alexander), but it's definitely on the upswing. If they would bring back the trolley, I think that would do wonders for the neighborhood as well. It's a pity SEPTA is so staunchly against the service.

[PhilliesPhan]

Originally Posted by McBane

I personally believe in Germantown. Lots of properties well below the $300k range. It's close to established, wealthier enclaves and Wissahickon Park; decent access to Center City; great bones overall with lots of very impressive housing stock in need of TLC; and a great cobblestoned main street in Germantown Ave. The one thing it has going against it is that it sits outside of the typical gentrification paths fanning out from Center City (e.g., Old City to the River Wards). There isn't the same type of momentum generating from Chestnut Hill and Mount Airy or even Manayunk/Rox. But I do know people who got priced out of the River Wards and wanted more space to raise a family and ended up in Germantown.

I also believe in Germantown. There is a lot of cool stuff in the pipeline, especially in the area surrounding Wayne Junction. With that said, however, the real impediment would be the neighborhood's distance from Center City. Germantown should examine the elements that have made East Falls, Manayunk, and Roxborough sought-after neighborhoods. That isn't to say that sections of Germantown (especially Penn-Knox and west of Wayne Avenue) aren't already highly sought-after.

Personally, I'd also start looking towards Strawberry Mansion and each of the Parkside neighborhoods in West Philly. Anything fronting/near Fairmount Park will likely be worth a lot more in the future. People have been moving to Brewerytown to take advantage of nature, so I can only imagine that it's only a matter of time before that demographic starts to seek homes that front the park. Belmont could be another neighborhood to pay attention to. Currently, much of that neighborhood is a blank slate, ripe for development. With a revitalized Lancaster Avenue and Night Owl service on the 10 (and pretty good service on the 40), I could see Belmont blossoming into a booming neighborhood soon.

[Jawnadelphia]

Sure, "Brewerytown" is being gentrified, but mostly the southern parts of the hood... Poplar, right on Girard Ave. Brewery-Brewerytown is still pretty wild, esp. at night north of Girard. I'm sure there's still a lot of great deals.

[iheartphilly]

Aramark letters being removed on the market st building as we speak.

[Skintreesnail]

The housing stock in the neighborhoods along Germantown ave. past Wayne junction is really impressive. Also, Germantown ave. itself has excellent bones as a commercial corridor in addition to its history. Not sure about the schools, though Central is around there.

I also wish SEPTA would bring the trolley back. If they're worried about center city traffic, they could have it loop between Wayne Junction/Erie Ave. and Chestnut Hill or something.

I can see Mantua and Belmont getting popular as well along the Lancaster ave trolley, especially if Schuylkill Yards/30th street district plan come to fruition.

[mcgrath618]

CDR had some good things to say about 408 Cecil B Moore:
https://www.phila.gov/CityPlanning/p...207_SIGNED.pdf

[el don]

Looks like work on this got started recently all the first floor businesses have moved and workers were gutting the first floor.

https://atlas.phila.gov/#/3600-30%20LANCASTER%20AVE/li

[Skintreesnail]

Originally Posted by iheartphilly

Aramark letters being removed on the market st building as we speak.

Speaking of Aramark, see they've started that pedestrian walk along the tracks. Didn't see any new letters though.

[Jawnadelphia]

The Aramark sign to the west - hanging on a little while longer.

[Boku]

October 12 opening for Cherry Street pier.

http://www2.philly.com/philly/entert...-20180822.html

[Jayfar]

Originally Posted by Jayfar

I think there's some green space tucked in there somewhere and green roofs. As to the smokestack, that's been out of the plan since May, per the minutes from the May 11th Historical Commission meeting:

--quote--
Ori Feibush, the property owner, introduced himself and offered to answer any questions. He stated that he wished to clarify that they are no longer pursuing the effort to save the smokestack. He said they have had a company taking drone photography weekly and there was substantial shearing a month ago and the shearing has increased, and there has been movement. Mr. Feibush stated they have petitioned the Department of Licenses & Inspections to begin demolition of just the smokestack portion (not the building it sits on) and are working with the project’s engineers and the City to save portions of the building that can reasonably be saved.
--end quote--

As to what I think of the renderings overall, honestly they're a bit unimpressive in terms of the amount of rehab/preservation. Basically you have the Wanamaker-era boilerhouse squished under 4 additional stories of overbuild, with an added brick wall to the east to give a little heft. As far as the original 1865 building, I'm not seeing much more than the western wall and 2 of the 6 bays on that side are nothing more than a wall to nowhere, its empty window openings backed by open space.

The whole set of 10 images is on OCF Realty's facebook page here:

https://www.facebook.com/ocfrealtyph...type=3&theater

The CDR submission for Parcel A, the northern section of the lot with the townhouses, is online today:

https://www.phila.gov/CityPlanning/p...inton%20Ave%20[Parcel%20A]%20Final.pdf

[Urbanthusiat]

RIP Ridge Flats, welcome 4300 Ridge Avenue.