PHILADELPHIA | THE LAUREL @ 1911 Walnut | 604 FT | 48 FLOORS

[Warrenite84]

Love it! That architect needs to do some work for Dan Gilbert of Quicken Loans in Detroit. I would like very much please to see something like the Walnut Street elevation in Detroit's CBD.

[Warrenite84]

(First page rendering)

[Jawnadelphia]

Hey Southern Land Company,
The corner of the lot is beginning to look like a Vietnamese jungle ...need me to run over there with a weedwacker?!

[iheartphilly]

Any updates on this?

[summersm343]

^^Still no CDR submission. This is getting less and less likely from happening every month.

[Knight Hospitaller]

^ How a site like this does not happen, or how the Harper gets an amputation, in this area is beyond me.

[jsbrook]

Originally Posted by summersm343

^^Still no CDR submission. This is getting less and less likely from happening every month.

So frustrating. I walk by every so often. Doesn't seem to be too much abatement going on with the two abandoned buildings at this point either.

[mcgrath618]

I think that this is more likely to happen, than say, SLS.
There are a multitude of reasons as to why this hasn't started, not all of which are necessarily bad. I think that I'd rather have this break ground in 2018 than have it be rushed now and fall into the same pitfalls that the W fell into.

[RonnieStevens]

Originally Posted by summersm343

^^Still no CDR submission. This is getting less and less likely from happening every month.

Oh man, can I ask why there is a chance that this might not happen? Do you think internally they are moving away from the project for whatever reason?

You would think this is a prime spot to build... I dont get it

[summersm343]

Originally Posted by RonnieStevens

Oh man, can I ask why there is a chance that this might not happen? Do you think internally they are moving away from the project for whatever reason?

You would think this is a prime spot to build... I dont get it

The longer it takes to get shovels in the ground, the less likely it is from happening.... for a multitude of reasons, like for instance, another recession. It still has a chance of happening, but the longer it takes for them to get to work, the less likely it will happen.

[Gonzo the Great]

Originally Posted by summersm343

The longer it takes to get shovels in the ground, the less likely it is from happening.... for a multitude of reasons, like for instance, another recession. It still has a chance of happening, but the longer it takes for them to get to work, the less likely it will happen.

and another one bites the dust .....

[jsbrook]

Originally Posted by summersm343

The longer it takes to get shovels in the ground, the less likely it is from happening.... for a multitude of reasons, like for instance, another recession. It still has a chance of happening, but the longer it takes for them to get to work, the less likely it will happen.

I can't recall what their financing situation is if it's been made public at all. Is this financed?

[City Wide]

Originally Posted by jsbrook

I can't recall what their financing situation is if it's been made public at all. Is this financed?

Most/many condo financing packages include having a certain amount of pre-sold units on the books with deposits taken. Since this is a mixed use building I have no idea if and how that changes the deal.
But I am very surprised that apparently there hasn't been any effort to set up a sales office.

[mcgrath618]

Originally Posted by summersm343

The longer it takes to get shovels in the ground, the less likely it is from happening.... for a multitude of reasons, like for instance, another recession. It still has a chance of happening, but the longer it takes for them to get to work, the less likely it will happen.

I think that it's important to note that this isn't necessarily always going to be true. There won't always be a recession, and as we've seen with such buildings as Chinatown Tower, they can get built eventually.

[Milksteak]

I didn't have much hope for SLS, but I would be pretty upset if this one doesn't come to fruition. They followed all of the rules, they dealt with the NIMBYs, the plan preserved the facades of some defunct historical buildings, and they put together a beautiful rendering that would have added to both the skyline and the streetscape in an elegant way. I believe this was Southern Land's first attempt to build in the city...and if this doesn't work out it may be their last.

[Boku]

Originally Posted by Milksteak

I didn't have much hope for SLS, but I would be pretty upset if this one doesn't come to fruition. They followed all of the rules, they dealt with the NIMBYs, the plan preserved the facades of some defunct historical buildings, and they put together a beautiful rendering that would have added to both the skyline and the streetscape in an elegant way. I believe this was Southern Land's first attempt to build in the city...and if this doesn't work out it may be their last.

Southern Land did 3601 Market.

[Milksteak]

Originally Posted by Boku

Southern Land did 3601 Market.

You're right, looks like they did. Still, I'll be butthurt if this one doesn't work out.

[jsbrook]

Originally Posted by Milksteak

I didn't have much hope for SLS, but I would be pretty upset if this one doesn't come to fruition. They followed all of the rules, they dealt with the NIMBYs, the plan preserved the facades of some defunct historical buildings, and they put together a beautiful rendering that would have added to both the skyline and the streetscape in an elegant way. I believe this was Southern Land's first attempt to build in the city...and if this doesn't work out it may be their last.

Frankly, I don't think the City hold much blame in this particular case. SLC knew what it was dealing with as far as protected structures, and honestly, it's final compromise proposal is probably what it should have lead with out of the gate. If it head, it may have broken ground by now.

[Justin7]

As I've been saying from the beginning, this is a suburban developer from the south with almost no experience in any city, let alone Philadelphia. Their one project in Philly was a dud that looks nothing like the renderings.

So of course they were allowed to start tearing down buildings.

Best case scenario would be for them to sell the property to someone who can get things done.

[mcgrath618]

Calling it now, it'll be on the next CDR submission.
I will be so mad if this doesn't get done.