PHILADELPHIA | Broad + Pine | 202 FT | 15 FLOORS - Page 6

Londonee · #**101** Posted **Sep 5, 2017, 1:30 PM**

Quote:

Originally Posted by City Wide

That's probably what Carl wants, safe. Since he is planning on condos I'm betting that in his mind the risk of a bold design would just be too great.

I'm not in his target market so what do I know, but I think a design with some splash could actually attract as many buyers as not. At least its not another pink turd.

I wonder if he's even thinking that much about it. My guess is that 1) this design principle is very cheap/cost effective to execute or 2) he's just a guy - like 9 out of 10 of us walking around - without any aesthetic drive. Like, if he wasn't rich he'd be rocking jean shorts, slides, and a baggy T-shirt.

Edit: to be fair, SLS is a pretty handsome building.

summersm343 · #**102** Posted **Sep 5, 2017, 3:40 PM**

Design board to consider Dranoff's Broad and Pine St. condo proposal

Read more here:
http://www.philly.com/philly/busines...-20170905.html

summersm343 · #**103** Posted **Sep 5, 2017, 11:48 PM**

Philly board gives go-ahead to Dranoff's Broad and Pine St. condo proposal

http://www.philly.com/philly/busines...-20170905.html

mcgrath618 · #**104** Posted **Sep 6, 2017, 1:18 AM**

Quote:

Originally Posted by summersm343

Philly board gives go-ahead to Dranoff's Broad and Pine St. condo proposal

http://www.philly.com/philly/busines...-20170905.html

Great news! What other hurdles are left for this building before shovels in ground?

City Wide · #**105** Posted **Sep 6, 2017, 2:03 PM**

Quote:

Originally Posted by mcgrath618

Great news! What other hurdles are left for this building before shovels in ground?

I'm just guessing here, but there might be the small problem of finding $100M++ in construction financing that takes alittle bit of time. Carl will probably want to set up a model unit close by and try to pre-sell a goodly number of units. A bank always likes to see pre sold units. 58 units certainly seems like a manageable size project. My guess if he can pre sell one third of the units then this would start without any problems.

It will be interesting to see the floor plans and price points as this gets rolled out. It does seem to be a fast moving project; just a couple of weeks ago Carl was saying this would be built only after SLS was finished. Now, who knows

mcgrath618 · #**106** Posted **Sep 6, 2017, 2:34 PM**

Quote:

Originally Posted by City Wide

I'm just guessing here, but there might be the small problem of finding $100M++ in construction financing that takes alittle bit of time. Carl will probably want to set up a model unit close by and try to pre-sell a goodly number of units. A bank always likes to see pre sold units. 58 units certainly seems like a manageable size project. My guess if he can pre sell one third of the units then this would start without any problems.

It will be interesting to see the floor plans and price points as this gets rolled out. It does seem to be a fast moving project; just a couple of weeks ago Carl was saying this would be built only after SLS was finished. Now, who knows

I think after the redesign he intends to build it BEFORE SLS.
On the website the start date is this fall, whereas SLS is Spring 2018.

City Wide · #**107** Posted **Sep 6, 2017, 3:51 PM**

Quote:

Originally Posted by mcgrath618

I think after the redesign he intends to build it BEFORE SLS.
On the website the start date is this fall, whereas SLS is Spring 2018.

Great. The sooner the better. I haven't been a big fan of Carl, but this project is ok, bring it on. If the prices aren't too high I think it will be a big success. Actually on one hand I don't care what the prices are, I just hope this project doesn't bomb. The more reasonable the prices are the less chance of that happening, and the greater the odds are of more similar buildings going up.

mcgrath618 · #**108** Posted **Sep 6, 2017, 4:10 PM**

Quote:

Originally Posted by City Wide

Great. The sooner the better. I haven't been a big fan of Carl, but this project is ok, bring it on. If the prices aren't too high I think it will be a big success. Actually on one hand I don't care what the prices are, I just hope this project doesn't bomb. The more reasonable the prices are the less chance of that happening, and the greater the odds are of more similar buildings going up.

I have a feeling if this does well, it'll effect SLS positively

Londonee · #**109** Posted **Sep 6, 2017, 5:55 PM**

I mean, it's 56 condos. If we can't find 20 or 30 people in a region of 6mm + to chunk a bit of money down and get this project rolling then we should all just pack up and go home. In Dranoff's circles, he should be able to get 20 signatures one night at a cocktail party.

Aaamazarite · #**110** Posted **Oct 27, 2017, 2:51 PM**

From normiebook-- a conditional permit on the site

Knight Hospitaller · #**111** Posted **Oct 27, 2017, 2:54 PM**

^ No. This is clearly a "codtinl" permit.

cardeza · #**112** Posted **Apr 3, 2019, 8:08 PM**

Demo permits issued last month for the buildings at Broad and Pine. Guess this is moving forward along with SLS.

PHL10 · #**113** Posted **Apr 3, 2019, 8:15 PM**

Quote:

Originally Posted by cardeza

Demo permits issued last month for the buildings at Broad and Pine. Guess this is moving forward along with SLS.

I may have missed it but since when is SLS a go?

Also, I would have serious concerns about letting Dranoff destroy the other end of the block as well given the eye sore we have had at Spruce Street.

Vince_ · #**114** Posted **Apr 3, 2019, 8:41 PM**

Quote:

Originally Posted by PHL10

I may have missed it but since when is SLS a go?

Also, I would have serious concerns about letting Dranoff destroy the other end of the block as well given the eye sore we have had at Spruce Street.

Yes this is serious bullshit. We have a massive vacant lot eyesore from his SLS project. He shouldn't be allowed to move forward with this before building SLS.

Knight Hospitaller · #**115** Posted **Apr 3, 2019, 8:46 PM**

Enough of anticipatory demolition. "Show me the money" for new development first. This should work like home sales: produce a pre-qualification or conditional approval letter -- or pound sand.

Redddog · #**116** Posted **Apr 3, 2019, 9:09 PM**

Quote:

Originally Posted by Knight Hospitaller

Enough of anticipatory demolition. "Show me the money" for new development first. This should work like home sales: produce a pre-qualification or conditional approval letter -- or pound sand.

Wait. What building are they gonna demo?

summersm343 · #**117** Posted **Apr 3, 2019, 9:31 PM**

Fuckkkk this. They need to tell Dranoff that he has to start work on SLS first before issuing another demo permit.

jsbrook · #**118** Posted **Apr 3, 2019, 11:54 PM**

Yes, it is bullshit. Financing should be in place before demo permits are issued. Or a firm commitment to finance contingent on receiving the demo permit. But the problem is that many lenders won't finance until X percentage of units are under an agreement of sale. So, developers would need to market and get buyer commitments pre-demo.

jsbrook · #**119** Posted **Apr 3, 2019, 11:55 PM**

Quote:

Originally Posted by Redddog

Wait. What building are they gonna demo?

The Starbucks with the parking garage on top of it.

mcgrath618 · #**120** Posted **Apr 4, 2019, 12:22 AM**

As much as I want SLS and this to start, I have to agree with you guys. Dranoff shouldn't be allowed to have his cake and eat it too.