PHILADELPHIA | Lowrise/General Developments Thread

[jsbrook]

Originally Posted by 1487

^better for your view to have railing like that.

Yes, but glass would be even better. If it was my house, that's what I would want.

[jsbrook]

Originally Posted by tsarstruck

Not much detail:

I'm confused. This is supposed to be AT 2400 Market? I thought Aramark was occupying all the space. If not, where is it supposed to be? Can't tell from the blurb you posted.

[summersm343]

Redevelopment on horizon for 40th & Chestnut in University City

Stockton Real Estate Advisors and U3 Ventures have plans to redevelop three adjacent properties at Chestnut Street at 40th Street in University City that have stood vacant for more than 10 years.

The University of Pennsylvania owns the buildings and the partnership has entered into a more than 50-year lease on them, paving the way for a roughly $3 million redevelopment at what is being branded at 4001 Chestnut St. The location is a gateway to the neighborhood and the redevelopment of these properties will enhance an area that has drawn increased attention from investors, retailers and developers.

Though the design and plans are still being fine tuned, one of the properties will be transformed into office and retail space, a middle building will likely get razed to make way for a courtyard or open space, and an existing brownstone will be converted into residential use for graduate students. In all, there will be 3,000 square feet of office space and 3,000 square feet of retail space and the project is scheduled to be completed by the first quarter of next year.

This is an area of the city that Jim Paterno, who heads up Stockton, has been eyeing for a while.

“We love this location because of the proximity to the Market-Frankford El at 40th Street and the trolley portal down the street,” Paterno said. “This is a super highway of pedestrian activity and we felt like 40th Street was ripe for finally realizing its potential.”

http://www.bizjournals.com/philadelp...on-u3-cre.html

[1487]

Originally Posted by jsbrook

I'm confused. This is supposed to be AT 2400 Market? I thought Aramark was occupying all the space. If not, where is it supposed to be? Can't tell from the blurb you posted.

no they are not. I think their lease was 300k sf or so. That is not all the building.

[donoteat]

Originally Posted by summersm343

Redevelopment on horizon for 40th & Chestnut in University City



http://www.bizjournals.com/philadelp...on-u3-cre.html

Astonished that they're keeping the buildings. They've been purposely kept vacant for convenient demolition and redevelopment for so long...

[hammersklavier]

Originally Posted by donoteat

Astonished that they're keeping the buildings. They've been purposely kept vacant for convenient demolition and redevelopment for so long...

Agreed. This sounds crazy underdeveloped for a parcel in what is otherwise a densifying neighborhood.

Incidentally, this is the old Hub II parcel. Remember that proposal?

[Baconboy007]

Originally Posted by 1487

no they are not. I think their lease was 300k sf or so. That is not all the building.

Aramark will only be in the top 5 floors. The street level floor is all retail and the next are up for grabs. This "urban club" would be interesting and if it includes a gym/spa that would mean that a significant portion of a not that big building will be dedicated to a gym as about a 3rd of one of Aramark's floors is going to be a gym with the rest being dinning/meeting space.

[jsbrook]

Originally Posted by Baconboy007

Aramark will only be in the top 5 floors. The street level floor is all retail and the next are up for grabs. This "urban club" would be interesting and if it includes a gym/spa that would mean that a significant portion of a not that big building will be dedicated to a gym as about a 3rd of one of Aramark's floors is going to be a gym with the rest being dinning/meeting space.

Thanks Baconboy and also 1487. I think these could be a very good use for the other floors in this building, then.

[frbrown]

Building update at 22nd and South St.


Also saw today at 40th street portal that fences were up blocking the street parking on the south side of Baltimore between 39th and 40th; and there is a construction trailer set up there (on June 7th UCD said "construction work is set to begin in the next few days")

[City Wide]

Originally Posted by donoteat

Astonished that they're keeping the buildings. They've been purposely kept vacant for convenient demolition and redevelopment for so long...

something smells fishy about this project--------U3 were part of the failed (to date at least) project at 43th & Baltimore Ave.

[SEFTA]

[Larry King]

Originally Posted by City Wide

something smells fishy about this project--------U3 were part of the failed (to date at least) project at 43th & Baltimore Ave.

That property was/is owned by a New York investor. They never owned it and probably don't have much say as to when it gets going

[summersm343]

The National is Under Construction







Read more here:
http://www.ocfrealty.com/naked-phill...r-construction

[summersm343]

Ronald McDonald House to undertake largest expansion in its history

Ronald McDonald House is embarking on a $50 million project at its Chestnut Street facility in West Philadelphia, launching the biggest expansion in its history.

The project involves constructing an 8-story, 93,000-square-foot structure that will have a total of 88 bedrooms and allow the organization to host a significant number of additional families who have an ill child receiving medical treatment at nearby hospitals.

The work will allow the Ronald McDonald House at 39th and Chestnut streets to go from 45 rooms to a total of 111. The last time the Chestnut Street facility was expanded was in 1995.

The new tower will be built on two adjacent lots that the organization bought in 2014 and 2015. Aside from the additional rooms, the project involves a new welcome center, a kitchen, indoor and outdoor play areas, and a rooftop green space that families can use.

Ewing Cole is the architect and P. Agnes the construction manager.

http://www.bizjournals.com/philadelp...struction.html

[Human Scale]

^Beautiful facade. Almost looks like a Tod Williams + Billi Tsien project

[Philly Fan]

First a World Heritage City, now Philadelphia is a 'National Treasure'

The threats to Philadelphia’s rich architectural past, which has been under severe pressure from a sustained building boom, will be recognized Thursday when the National Trust for Historic Preservation declares the city a “National Treasure.”

Coming just two years after Philadelphia was singled out as the first World Heritage City in the United States, the designation is intended to focus attention on the city’s growing preservation crisis. It is the first time the trust has identified an entire city as a National Treasure, although parts of three other cities —Miami, Detroit, and Louisville — have been singled out for similar attention.

[PhilliesPhan]

The city and Conrail have struck a deal to do something about El Campamento in Kensington. In its place will be a new structure called Casa Indiana, presumably at 2nd and Indiana.

http://www.philly.com/philly/news/cr...-20170615.html

[Boku]

Good stuff here.

Trade mission yields reciprocal visit from Chinese firm considering Phila. for U.S. HQ

http://www.bizjournals.com/philadelp...ess+Journal%29

During a recent three week trade and investment mission to China and South Korea, local business and civic leaders said they made significant progress on business arrangements ranging from introducing mushroom growing technology in the Far East to possibly luring a major foreign conglomerate to establish Philadelphia operations.

The Asia trip, which ran from May 23 to June 10, included business groups and leaders from around the state, including Philadelphia, Chester County and the Lehigh Valley, piggybacking on the Philadelphia Orchestra’s annual trip to China.

Lauren Swartz, director of international business development for the Philadelphia Department of Commerce, led the China portion of the trade mission, where she said the goal was to build broad relations with the six cities it visited.

Philadelphia signed a memorandum of understanding with the city of Zhuhai, which is located on the southern coast of Guangdong province in China. A $10.6 billion construction project consisting of a series of bridges and tunnels stretching 31 miles and crossing the Lingdingyang channel that will connect city with Macau and Hong Kong could open Zhuhai up for more business opportunities. Swartz believes the memorandum will allow Philadelphia to get involved on the ground floor and grow with Zhuhai.

She said the Commerce Department also reached an agreement with a Chinese conglomerate to visit Philadelphia next week in hopes that it will select the city as its U.S. headquarters.

Swartz declined to name the company, although she offered a few teasers. It dabbles in overseas investment, manufacturing, infrastructure, construction and importing and exporting. Some executives of the company, which is looking for a U.S. base of operations, visited Philadelphia on May 15. During the China trip, she said the delegation convinced the company to tack a second two-day Philadelphia trip onto an already-planned U.S. trip, this time with its president in tow.

The Philadelphia team met with two districts within Shanghai — Pudong and Kong Kou — to discuss partnerships in the life sciences and technology sectors and explored the possibility of setting up business exchanges, trade and investment.

“We are competing with the whole world when we leave the United States so we have to talk about where we have a lot of growth,” Swartz said. “And those two areas have had a lot of investment in China.”

Gary Biehn, a corporate partner at White & Williams and chairman of the board at the World Trade Center of Philadelphia, signed a memorandum of understanding with the World Trade Center of Tianjin, which is Philadelphia’s sister city in China. Tianjin is 30 minutes outside Beijing and is China’s sixth largest city with almost 16 million residents.

Also, China's sixth largest city has almost 16 million people.

[reparcsyks]

Originally Posted by Boku

Also, China's sixth largest city has almost 16 million people.

Yeah, all US cities, save NYC, are like backwater villages in China. Even small cities in Europe feel denser and more urban than even Chicago.

[jsbrook]

Originally Posted by reparcsyks

Yeah, all US cities, save NYC, are like backwater villages in China. Even small cities in Europe feel denser and more urban than even Chicago.

As a testament to that, Paris has more than 2.2 million people in 41 square miles with far fewer highrises than you'd see in a U.S. city of its stature and standing. And the tallest one in city limits only being 210 meters (689 feet) with the next tallest at 137 meters (449 feet). Most are adjacent in separate highrise districts.