PHILADELPHIA | East Market | 284 & 248 FT | 24 & 20 FLOORS

[Gonzo the Great]

Originally Posted by Philly Fan

It's a screen capture from the construction webcam, which updates every few minutes:

https://app.oxblue.com/open/NREA/Eastmarket

You can take a few shots of your own!

Got it . Thanks

[City Wide]

Originally Posted by New2Fishtown

I assure you it is not open windows. On the west-facing wall of the tower, there are entire panels (made up of multiple floors of multiple windows) that are visibly not in line/level with the rest of the structure. The same can be said for some of the ground level facade pieces installed now on 11th. One can with the naked eye detect obvious slants wherein the pieces are only one inch apart on one side and then many inches apart by the time you get to the other side. It doesn't appear that any of the pictures currently in this thread are zoomed in enough to illuminate this.

Today I saw what you have been describing and if anything its much more noticeable then I expected. What I saw is on the west side, involving a couple floors near the top. I just can't imagine that nothing more will be done. From the street level it looks like entire panels, floor to floor and probably 16 feet long look like they are misplaced by 6", and in two directions! Here's hoping somebody with a camera can take a shoot.

[Philly Fan]

Originally Posted by City Wide

Today I saw what you have been describing and if anything its much more noticeable then I expected. What I saw is on the west side, involving a couple floors near the top. I just can't imagine that nothing more will be done. From the street level it looks like entire panels, floor to floor and probably 16 feet long look like they are misplaced by 6", and in two directions! Here's hoping somebody with a camera can take a shoot.

I actually also saw it in person this past Saturday, marching for Science right past it. All the parties involved here--developers, architects, construction firms, etc.--are quite experienced and well established, so I would hope that this is just a temporary situation that is waiting for the installation of some other element(s) or completion of some other step(s) to be finalized/corrected. If WE notice it, then those responsible for the project must, and projects of this scope don't generally end up with defective or sub-par installations. At least not without some litigation.

[shadowbat2]

Originally Posted by frbrown

Well I guess we're still waiting on the 'exciting announcements', as of this post. I am excited for more lease announcements - I feel like it is about time.


https://twitter.com/EastMarketPhl

If it's about the appearance of the "platform", than you heard it from me first!

[SEFTA]

There seems to be no sign of the second tower getting started.

Originally Posted by spacevator

Notice the formation of the two curved corners on the Market Street facade

[jsbrook]

Originally Posted by SEFTA

There seems to be no sign of the second tower getting started.

Mmm...they've been steadily working on the retail base. And the little steel piece on top of it is new. I haven't noticed long periods without change.

[Philly Fan]

Originally Posted by jsbrook

Mmm...they've been steadily working on the retail base. And the little steel piece on top of it is new. I haven't noticed long periods without change.

Also, if you zoom in on the webcam, you can see steel column stubs sticking out above the top of the retail base, to which the initial steel columns of the second tower will be attached.

[summersm343]

4/26/2017

[Londonee]

So between East Market and the Gallery we're talking about close to 2million square feet of retail space to fill up. With both projects opening in about a year we know about a Moms (which was announced well over a year ago), an Iron Hill, a DWR, and maybe a WaWa?

Meanwhile over at Broad and Washington we learned that a Target would be the anchor tenant of a project that hadn't even broken ground yet and won't be finished till 2019.

From a PR standpoint - a trickle of exciting news coming out constantly every few weeks or so - Bed Bath and Beyond is coming - AMC Cinemas is coming - a Container Store is coming - is much more valuable than one big announcement - that everyone will forget about (or not even see unless they're development geeks like us) in a 24 hour news cycle. I mean, Coradino couldn't wait to shout from the mountain tops the instant the Century 21 deal was inked.

All that to say - do you think maybe these two competing properties are having an issue getting tenants to commit? Like, could H&M be playing one side off the other angling for the best deal? Hey East Market, The Gallery is giving me an extra year at 10% less per sf.

The result is that a bunch of retailers are hanging in limbo waiting for the first few deals to sign to make a determination as to their own business's economic viability? Like waiting for the first pitcher to sign in MLB free agency which sets that year's market?

[1487]

Originally Posted by Londonee

So between East Market and the Gallery we're talking about close to 2million square feet of retail space to fill up. With both projects opening in about a year we know about a Moms (which was announced well over a year ago), an Iron Hill, a DWR, and maybe a WaWa?

Meanwhile over at Broad and Washington we learned that a Target would be the anchor tenant of a project that hadn't even broken ground yet and won't be finished till 2019.

From a PR standpoint - a trickle of exciting news coming out constantly every few weeks or so - Bed Bath and Beyond is coming - AMC Cinemas is coming - a Container Store is coming - is much more valuable than one big announcement - that everyone will forget about (or not even see unless they're development geeks like us) in a 24 hour news cycle. I mean, Coradino couldn't wait to shout from the mountain tops the instant the Century 21 deal was inked.

All that to say - do you think maybe these two competing properties are having an issue getting tenants to commit? Like, could H&M be playing one side off the other angling for the best deal? Hey East Market, The Gallery is giving me an extra year at 10% less per sf.

The result is that a bunch of retailers are hanging in limbo waiting for the first few deals to sign to make a determination as to their own business's economic viability? Like waiting for the first pitcher to sign in MLB free agency which sets that year's market?

PREIT claimed a huge chunk of the FOP was spoken for already. Have heard very little about East Market so who knows. Considering the first building should be open this summer/fall it seems strange that so few tenants have been announced. Then again, they have been working to fit out the MOMs space for like a year+ and it's still not open.

[summersm343]

Originally Posted by Londonee

So between East Market and the Gallery we're talking about close to 2million square feet of retail space to fill up. With both projects opening in about a year we know about a Moms (which was announced well over a year ago), an Iron Hill, a DWR, and maybe a WaWa?

Meanwhile over at Broad and Washington we learned that a Target would be the anchor tenant of a project that hadn't even broken ground yet and won't be finished till 2019.

From a PR standpoint - a trickle of exciting news coming out constantly every few weeks or so - Bed Bath and Beyond is coming - AMC Cinemas is coming - a Container Store is coming - is much more valuable than one big announcement - that everyone will forget about (or not even see unless they're development geeks like us) in a 24 hour news cycle. I mean, Coradino couldn't wait to shout from the mountain tops the instant the Century 21 deal was inked.

All that to say - do you think maybe these two competing properties are having an issue getting tenants to commit? Like, could H&M be playing one side off the other angling for the best deal? Hey East Market, The Gallery is giving me an extra year at 10% less per sf.

The result is that a bunch of retailers are hanging in limbo waiting for the first few deals to sign to make a determination as to their own business's economic viability? Like waiting for the first pitcher to sign in MLB free agency which sets that year's market?

I can tell you Primark and AMC Theaters are coming to Fashion Outlets. I also know they're shooting to build a residential tower at 9th and Market.

This development - East Market - is practically entirely leased out retail wise. Expect more announcements soon.

[Knight Hospitaller]

^ Good news. So the prospective residential tower would be the easternmost one that we see in the conceptual renderings?

[reparcsyks]

Originally Posted by summersm343

I can tell you Primark and AMC Theaters are coming to Fashion Outlets. I also know they're shooting to build a residential tower at 9th and Market.

This development - East Market - is practically entirely leased out retail wise. Expect more announcements soon.

This is great news! could hug you right now!

[1487]

Originally Posted by summersm343

I can tell you Primark and AMC Theaters are coming to Fashion Outlets. I also know they're shooting to build a residential tower at 9th and Market.

This development - East Market - is practically entirely leased out retail wise. Expect more announcements soon.

Why did they confirm something like Iron Hill WAY before it will open while saying nothing about the retail in building 1 aside from the furniture store which was announced a LONG time ago? I'm totally confused about the urgency in confirming Iron Hill even though it's not coming until 2018.

[Scottydont]

Originally Posted by summersm343

I can tell you Primark and AMC Theaters are coming to Fashion Outlets. I also know they're shooting to build a residential tower at 9th and Market.

This development - East Market - is practically entirely leased out retail wise. Expect more announcements soon.

Did someone just tease that the Disney Hole is gonna be filled?

[Londonee]

Originally Posted by 1487

Why did they confirm something like Iron Hill WAY before it will open while saying nothing about the retail in building 1 aside from the furniture store which was announced a LONG time ago? I'm totally confused about the urgency in confirming Iron Hill even though it's not coming until 2018.

This is basically what I was getting at in my post upthread. I mean, they announced Mom's Organic was attached to the project 2.5 years ago...

I wonder if there's a gap between saying they'll take the space - and actually signing on the dotted line and we're floating in that space right now. Either way, look forward to the upcoming announcements.

[1487]

Originally Posted by Londonee

This is basically what I was getting at in my post upthread. I mean, they announced Mom's Organic was attached to the project 2.5 years ago...

I wonder if there's a gap between saying they'll take the space - and actually signing on the dotted line and we're floating in that space right now. Either way, look forward to the upcoming announcements.

yeah well they indicated they had big news coming a few Mondays ago and nothing happened. Maybe it's next monday.

[SEFTA]

Originally Posted by summersm343

I also know they're shooting to build a residential tower at 9th and Market.

This development - East Market - is practically entirely leased out retail wise. Expect more announcements soon.

I assume this is the tower you were referring to. I find this very good news. This project really requires a residential component. This seems to be the tower that would get developed first.

[Knight Hospitaller]

^above the former Walgreens

[iheartphilly]

Originally Posted by SEFTA

I assume this is the tower you were referring to. I find this very good news. This project really requires a residential component. This seems to be the tower that would get developed first.

They should...I mean the formula is quite easy when you think about it. Build new retail spaces for restaurants, clothing stores, movie theater, grocery store and follow it with residential towers where people will use the restaurants, clothing stores, grocery store, and a movie theater. The kicker will be trying to add more office space and get office workers and conventioneers to give a boost to the local businesses.

Oh, where's the gym like Philadelphia Sports Club? Need one of those too.

I'm sure the motto been said....live, work, play and so forth.