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  #14661  
Old Posted Yesterday, 8:02 PM
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Originally Posted by 1487 View Post
So what will be the next tower to break ground now that 3665 Market is thoroughly underway? My money is on 1324 N. Broad or the View 2.
I haven't seen any 3675 Market updates in a while. Hoping to make it over there by Wednesday though to check it out.

I could see View 2 coming up next but my guess is Riverwalk (unless you want to count Lincoln Square).
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  #14662  
Old Posted Today, 2:12 PM
br323206 br323206 is offline
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[QUOTE=City Wide;7810172]
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Originally Posted by McBane View Post
I always go back and forth on the Delaware riverfront.

On one hand, I get what the city is doing. Recognizing the limited demand (because our waterfront is not Miami) for this area, planners placed a height cap to spread development horizontally in the hopes of eventually creating continuous development coupled with various schemes to "close the gap" between the city and the waterfront. This is a noble and good idea. QUOTE]


It sounds to me that whoever put together the present zoning made no distinctions between highrise buildings and low-rise/townhouse developments, and no distinctions between apartment buildings and owner occupied buildings. Does anyone know?
I think the market for highrise condo construction would be very different from the market for townhouses. I think that each building type attracts certain buyers and not others. I can also easily imagine that the market for highrise apartments is much different from highrise condos.
But it sounds like the zoning has just lumped everything into one pot, and looks at all housing as 'housing'.
I think part of the problem might be that European type planning/zoning would be considered too socialist for this country. But very few people want a completely open marketplace based, anything goes anyplace, type set up either. So we end up with half baked attempts at social control through zoning, but the present (and proposed) zoning tends to look at all housing through one pair of glasses. That would be like saying on the commercial side of zoning that the corner store is the same as a big box store.

What makes me think of this is didn't the current zoning overlay come out of the last 'boom' cycle, one where highrise condos were much more the item then apartments. In this cycle it seems that apartments are being built 20 to 1 over condos. Where the present zoning was written with the idea of trying to somewhat control development that was assumed would be owner occupied buildings what we are getting is a huge build of apartments. My premise is a neighborhood, an area can change more rapidly through apartment construction the owner occupied buildings. I think most people 'buy' with the intent of staying there for at least 5 years, and there's a lot of money involved, where with apartments the relationship is much more fleeting; here today, gone tomorrow. Shouldn't zoning acknowledge those differences, if there are true?

But in any case, the present proposed zoning changes seem very much directed toward one project that doesn't have a snowball's chance of ever even getting to the drawing board, never mind actual construction. It all makes me wonder why the councilman is pushing for this. If it doesn't benefit any one community and its doubtful whether it would help the public at large, what's in it for him? Maybe his cousin is part owner of some land in the district.
You can't address ownership in zoning. You can regulate use generally (residential, industrial, commercial) and specifically (high-rise residential, townhouses, single-family detached) but you cannot regulate whether a high-rise residential building will be condo or rental. The courts have made that very clear.
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  #14663  
Old Posted Today, 6:02 PM
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I was teaching an adjunct class at Rutgers Law today and wondered down to the Camden Riverfront as I had probably not been there since I was a kid. Coming along. Anyone know if this shell of a builidng across from the Victor is stalled? It's supposed to be in the middle of remediation to become "Radio Lofts." Took a few pics of the area too. If anyone wants them to post in the Camden Waterfront thread, message me and I'll email to you.
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  #14664  
Old Posted Today, 7:33 PM
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Originally Posted by jsbrook View Post
I was teaching an adjunct class at Rutgers Law today and wondered down to the Camden Riverfront as I had probably not been there since I was a kid. Coming along. Anyone know if this shell of a builidng across from the Victor is stalled? It's supposed to be in the middle of remediation to become "Radio Lofts." Took a few pics of the area too. If anyone wants them to post in the Camden Waterfront thread, message me and I'll email to you.
There is an issue with heavy metal contamination that supposedly stems from a fire in the late 70s. Which class were you teaching? I had Dep-Ad on the second floor?
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  #14665  
Old Posted Today, 8:09 PM
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There is an issue with heavy metal contamination that supposedly stems from a fire in the late 70s. Which class were you teaching? I had Dep-Ad on the second floor?
Dep-Ad. Ha.
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  #14666  
Old Posted Today, 8:24 PM
Capsule F Capsule F is offline
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Originally Posted by jsbrook View Post
I was teaching an adjunct class at Rutgers Law today and wondered down to the Camden Riverfront as I had probably not been there since I was a kid. Coming along. Anyone know if this shell of a builidng across from the Victor is stalled? It's supposed to be in the middle of remediation to become "Radio Lofts." Took a few pics of the area too. If anyone wants them to post in the Camden Waterfront thread, message me and I'll email to you.
I work right across the street from it, apparently been stalled for years.
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  #14667  
Old Posted Today, 8:30 PM
TallCoolOne TallCoolOne is offline
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Originally Posted by Capsule F View Post
I work right across the street from it, apparently been stalled for years.

Stalled for many years... took some classes there 10 years ago and that same banner announcing soon to be Lofts was on the building.
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  #14668  
Old Posted Today, 8:37 PM
tsarstruck tsarstruck is offline
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Market East developers considering using the Stephen Girard building as a hotel:
http://www.philly.com/philly/busines...-20170523.html


Flabbergasted by the number of hotels the city has added in the past few years: Roost Rittenhouse, AKA University City, The Study, Courtyard Marriot @ the Navy Yard, Home2 Suites, etc.

Not to mention under construction: W and Element, the Aloft Convention Center, Four Seasons at Comcast, Cambria Suites.

And still proposed: the SLS, Hyatt Centric at Little Pete's, the other hotel at 19th and Ludlow, the Live Casino Hotel, Fairfield Inn and Suites by Marriott (old Parker-Spruce), Hyde Hotel (Broad and Pine)

And, well, whatever is going on with these: Best Western Center City, , whatever's happening at the Family Court Building, the boutique hotel on Frankford and Girard, Divine Lorraine annex boutique hotel

With the rise of Airbnb, it's pretty amazing that Philly's tourism is increasing at a pace to fit that much supply.
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  #14669  
Old Posted Today, 9:02 PM
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Originally Posted by tsarstruck View Post
Market East developers considering using the Stephen Girard building as a hotel:
http://www.philly.com/philly/busines...-20170523.html


Flabbergasted by the number of hotels the city has added in the past few years: Roost Rittenhouse, AKA University City, The Study, Courtyard Marriot @ the Navy Yard, Home2 Suites, etc.

Not to mention under construction: W and Element, the Aloft Convention Center, Four Seasons at Comcast, Cambria Suites.

And still proposed: the SLS, Hyatt Centric at Little Pete's, the other hotel at 19th and Ludlow, the Live Casino Hotel, Fairfield Inn and Suites by Marriott (old Parker-Spruce), Hyde Hotel (Broad and Pine)

And, well, whatever is going on with these: Best Western Center City, , whatever's happening at the Family Court Building, the boutique hotel on Frankford and Girard, Divine Lorraine annex boutique hotel

With the rise of Airbnb, it's pretty amazing that Philly's tourism is increasing at a pace to fit that much supply.
I've said this at least twice before, but will say it again: Philadelphia's room inventory number is at a staggeringly insufficient level for a city of its size. As of the DNC there were 16,000 rooms in the city proper. Just enough to meet the DNC's need. Brooklyn and Columbus lost primarily because they are both well below this number. A city of Philadelphia's size and economic activity should maintain between 21,000 and 25,000 room keys. Current proposals do not even get us there.
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  #14670  
Old Posted Today, 9:09 PM
tsarstruck tsarstruck is offline
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Originally Posted by Human Scale View Post
I've said this at least twice before, but will say it again: Philadelphia's room inventory number is at a staggeringly insufficient level for a city of its size. As of the DNC there were 16,000 rooms in the city proper. Just enough to meet the DNC's need. Brooklyn and Columbus lost primarily because they are both well below this number. A city of Philadelphia's size and economic activity should maintain between 21,000 and 25,000 room keys. Current proposals do not even get us there.
How does that square with the 2016's occupancy rate of 78% (a "modern-day" record according to the CCD) and the ADR of $191? That doesn't seem like a market that could absorb a 30% increase in inventory. (Major Asterisk: I don't understand squat about the hotel business.)
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  #14671  
Old Posted Today, 9:21 PM
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Originally Posted by tsarstruck View Post
How does that square with the 2016's occupancy rate of 78% (a "modern-day" record according to the CCD) and the ADR of $191? That doesn't seem like a market that could absorb a 30% increase in inventory. (Major Asterisk: I don't understand squat about the hotel business.)
Anything over 60% is good for any hotel in any market. That will give them 10% revenue for the night over operating costs - if they have a tight operation. Yes you will want every room sold, that is the goal, but after 60% you get less desperate.

That 78% number seems low, although probably accurate. Friends in the industry say they are often above 80 and 90%. Weekday rates are consistently high. Higher than each hotel's category expects. The delapitated Sheraton Center City with its closet bathrooms can get $280 a night M-W! Philadelphia has some of the top performers for every brand. With the exception of the Marriott- it's hard to maintain good occupancy in that 900 room beast. The convention center wasn't doing good for awhile and the owners were considering changing flags, perhaps Hilton or Hyatt. But now things seem to be going well for them.
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  #14672  
Old Posted Today, 10:25 PM
Nova08 Nova08 is online now
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Boston's occupancy rate for 2015 was 81.6% with I suspect a much higher supply. And they average a higher rate (~$250). Not trying to create city v. city, just stating a data point.

When the bigger events and conventions come to town aren't people forced out to Conshohocken/KOP or NJ to find rooms simply because there just aren't enough rooms.

The Philly statistics don't lie, but there has been the general notion that Philly has a lack of hotels and rooms. I mean Philly getting a W in 2018, what major city in the US does not already have a W...Houston & Denver are really the only ones that come to mind.
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