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

[mcgrath618]

Originally Posted by Nova08

Liberty Property to sell portfolio leased to Vanguard

https://www.bizjournals.com/philadel...leased-to.html

This fares well for our Schuylkill yards.

[frbrown]

Originally Posted by mcgrath618

This fares well for our Schuylkill yards.

Don’t know if it has anything to do with schuylkill yards. I don’t believe Liberty Proprty Trust is involved there st all - that’s Brandywine. If anything this may bode well for Comcast 3

[Urbanthusiat]

I don’t think it means much of anything. Liberty is just changing their investment strategy to focus more on industrial real estate rather than suburban offices - a process they began in 2014. They’re making a killing developing large industrial spaces in New Jersey and elsewhere.

[EastSideHBG]

Originally Posted by Urbanthusiat

I don’t think it means much of anything. Liberty is just changing their investment strategy to focus more on industrial real estate rather than suburban offices - a process they began in 2014. They’re making a killing developing large industrial spaces in New Jersey and elsewhere.

Yep, I used to have to work closely with Liberty and this is their strategy.

[Slyfox]

What do you think would be the biggest thing holding someone back from moving to Wilmington? If someone is interested in moving but they have reservations, what do you think holds them up the most?

[jonesrmj]

Originally Posted by Slyfox

What do you think would be the biggest thing holding someone back from moving to Wilmington? If someone is interested in moving but they have reservations, what do you think holds them up the most?

Most likely the crime. If it wasn't for the crime, I think Wilmington would be a lot more attractable for people and offices.

[Parkway]

Originally Posted by Slyfox

What do you think would be the biggest thing holding someone back from moving to Wilmington? If someone is interested in moving but they have reservations, what do you think holds them up the most?

For me it's the train service. I work and have friends in Philadelphia, a local every 2 hours off-peak isn't going to cut the mustard.

[jsbrook]

Originally Posted by Slyfox

What do you think would be the biggest thing holding someone back from moving to Wilmington? If someone is interested in moving but they have reservations, what do you think holds them up the most?

Proximity to bigger and better cities and nice suburbs. When I worked in Wilmington, almost all of my co-workers either lived in Philadelphia or the suburbs. Wilmington needs more restaurants, more entertainment venues, more bars, more nightlife, more nice apartments, condos, and townhomes, more theater, more culture, more things like this: https://portcitydaily.com/local-news...to-wilmington/, just more of everything. (Not sure it even had a good concert venue before 2011 when the Queen reopened). I think it's come a long way in the last 5-10 years and improvements in all of these areas are starting to win some people over who work there. Views of the city are changing as it improves and the convenience factor (Live, Work, Play) is winning out and drawing some people who probably would have lived in Philly and commuted 5 years ago.

[jslice]

Originally Posted by jsbrook

Proximity to bigger and better cities and nice suburbs. When I worked in Wilmington, almost all of my co-workers either lived in Philadelphia or the suburbs. Wilmington needs more restaurants, more entertainment venues, more bars, more nightlife, more nice apartments, condos, and townhomes, more theater, more culture, more things like this: https://portcitydaily.com/local-news...to-wilmington/, just more of everything. (Not sure it even had a good concert venue before 2011 when the Queen reopened). I think it's come a long way in the last 5-10 years and improvements in all of these areas are starting to win some people over who work there. Views of the city are changing as it improves and the convenience factor (Live, Work, Play) is winning out and drawing some people who probably would have lived in Philly and commuted 5 years ago.

My thoughts:
- Delaware as a whole has been unable to retain the younger affluent families because the public schools are lackluster compared to those over the line in PA. Having those people work in Wilmington but live in PA creates a gap in people with disposable income looking to fill restaurants. I still can't figure out why DE doesn't focus on the public schools, north Wilmington should have fantastic public schools. All the privates and charters are a drain. Improve the public schools, you'll have more people with disposable income coming in on the weekends/nights.
-There is a perception of crime. Facts don't matter, perception does.
-Come down on the weekend. The riverfront is fantastic but even Market street feels edgy and largely vacant. The tools are starting to be put in place though. Restaurants and residences should win, in just the last year we've had: Stitch house, Margaux, Farmer & the Cow, Bardea, 218 Grille all open on Market.

[iamrobk]

Originally Posted by jslice

My thoughts:
- Delaware as a whole has been unable to retain the younger affluent families because the public schools are lackluster compared to those over the line in PA. Having those people work in Wilmington but live in PA creates a gap in people with disposable income looking to fill restaurants. I still can't figure out why DE doesn't focus on the public schools, north Wilmington should have fantastic public schools. All the privates and charters are a drain. Improve the public schools, you'll have more people with disposable income coming in on the weekends/nights.
-There is a perception of crime. Facts don't matter, perception does.
-Come down on the weekend. The riverfront is fantastic but even Market street feels edgy and largely vacant. The tools are starting to be put in place though. Restaurants and residences should win, in just the last year we've had: Stitch house, Margaux, Farmer & the Cow, Bardea, 218 Grille all open on Market.

I thought the schools in DE were really good? Maybe not Main Line good, but better than most of Delco/southern Chester County. I've never really looked into DE schools much but that was my perception.

Also, as a bit of a DE outsider, it's interesting to see a few posts mention the perception of Wilmington having a high crime rate. I've honestly never had that perception at all. Honestly, my only perception of Wilmington (and why I've never had any interest in moving there, tbh) is that it's relatively small and, frankly, boring.

[Jawnadelphia]

Brandywine School District is solid, very good overall--in the north Wilmington suburbs.

And glad you mentioned the 2 new restaurants opening up on Market Street very soon (one is French and the other Italian--if I'm not mistaken, and they are supposed to be fine dining), along with the Merchant Bar, The Queen, and the new Stitch House Brewery ... things are changing -- once the big B/P apartment project directly behind the Stitch House is completed, it should really help.
Downtown needs more people. I've spent a lot of time downtown recently, and frankly, walk like 3 blocks down Market, and then 3 blocks north ... and it's hood. Like the hood...(East Side, Quaker Hill, West Center City are very quick walks to Downtown), that's not perception, that's reality. I was nearly attacked down near DelTech (4th and Market) on a Sunday afternoon because I refused to let this crazy looking man "use" my iPhone to "call his boss". He ran after me, seriously, I had to take off running.
The surrounding streets of downtown can feel like a ghost town-- Wilmington has a systemic poverty problem, and drugs/gangs, homicide #'s are real. Basically, same issues as Baltimore, Camden, or North Philly--that's no revelation though.

That said, things are changing, the current Mayor, although 70-something years old really gets it. (Not a surprise--he was a major catalyst for the entire Riverfront development since day one, going back to the early 1990's).

The Riverfront really is buzzing with the giant beer garden now--but the Riverfront desperately needs a small grocery store or even a CVS. There aren't enough retail options; however, with everything B/P Group has planned, and now others joining in residential/hotel projects (Capano, and The Big Fish group), and the bridge project currently under construction, and the pedestrian/bike trail that will link up with the larger biking trail going all the down to Old New Castle... things are definitely much more exciting on the Riverfront now then ever before.

[Nova08]

The “big” pharma exodus from the Philadelphia area continues. Teva will move their HQ from North Wales to North Jersey.

[Knight Hospitaller]

Originally Posted by Nova08

The “big” pharma exodus from the Philadelphia area continues. Teva will move their HQ from North Wales to North Jersey.

Unfortunate. Someone had suggested that an Amazon push into pharma might auger well for this area, but the exodus had me thinking that Newark would be more attractive now, if that's a priority for them.

[Milksteak]

Originally Posted by Nova08

The “big” pharma exodus from the Philadelphia area continues. Teva will move their HQ from North Wales to North Jersey.

While it's a shame they are moving their headquarters, Teva's financial picture isn't pretty right now and they are undergoing a major shakeup....I'm not surprised they jumped at $40 million in incentives. Besides Astrazeneca, what other big pharma has downsized/moved out of the area recently?

[jonesrmj]

Originally Posted by Milksteak

While it's a shame they are moving their headquarters, Teva's financial picture isn't pretty right now and they are undergoing a major shakeup....I'm not surprised they jumped at $40 million in incentives. Besides Astrazeneca, what other big pharma has downsized/moved out of the area recently?

Wait, where is Astrazeneca going? I know they had that big campus off of Concord Pike (US-202) and DE-141, but where are the moving their hq to and why?

[Milksteak]

Originally Posted by jonesrmj

Wait, where is Astrazeneca going? I know they had that big campus off of Concord Pike (US-202) and DE-141, but where are the moving their hq to and why?

Sorry, didn't mean to press the panic button...they aren't going anywhere, but they've had mass layoffs at their HQ over the past couple of years and they closed their Fort Washington office. There is no new news though.

[mcgrath618]

One Ardmore Place seems to have some weird faux brick cladding going up at street level. I will try and take pictures today.

[Nova08]

Philadelphia still has a budding Biotech and Life Science sector, some of which were formed from former Big Pharma employees. But the area is losing the Big Pharma presence.

• Wyeth had a large facility in Collegeville, but they were bought by Pfizer and the Wyeth HQ was consolidated.

• Shire recently moved their main US operation from Chesterbrook to suburban Boston

• Shering Plough merged with Merck and I think that consolidated some of the workforce

• AZ still has their HQ in Wilmington but they've reduced their space. They sold the HQ to a developer and leased back a smaller portion.

[mcgrath618]

Originally Posted by Nova08

Philadelphia still has a budding Biotech and Life Science sector, some of which were formed from former Big Pharma employees. But the area is losing the Big Pharma presence.

• Wyeth had a large facility in Collegeville, but they were bought by Pfizer and the Wyeth HQ was consolidated.

• Shire recently moved their main US operation from Chesterbrook to suburban Boston

• Shering Plough merged with Merck and I think that consolidated some of the workforce

• AZ still has their HQ in Wilmington but they've reduced their space. They sold the HQ to a developer and leased back a smaller portion.

I think a lot of this has less to do with them leaving the Philadelphia area by choice, and more of forced mergers or buyouts that have made companies relocate elsewhere.

[mcgrath618]

https://m.imgur.com/a/rQiYeou
Cheap brick I was talking about.