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  #7541  
Old Posted Mar 6, 2017, 4:21 PM
Flyers2001 Flyers2001 is offline
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Originally Posted by cafeguy View Post
Well, these will certainly sell quickly...but a waterfront of privately used townhomes is not what I had envisioned. ESPECIALLY for the trump site, which can easily support high density next to the spring garden el. This penn treaty location actually might make sense for townhomes.


Although...the land between this and sugarhouse...if these are built...will create NIMBYs that won't let anything of density be built since it'll mess up their view. ugh.
Will they sell quickly? They are selling the land at 6.5 million and has plans for 19 homes. The cost for the homes has to be very expensive to create a good profit margin.

Not pretending I know the cost to build a 4 story row-home but it can not be cheap giving this location.

Maybe they will make it gated for the exclusivity, but these are going to cost a pretty penny.
     
     
  #7542  
Old Posted Mar 6, 2017, 11:46 PM
cafeguy cafeguy is offline
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Originally Posted by Flyers2001 View Post
Will they sell quickly? They are selling the land at 6.5 million and has plans for 19 homes. The cost for the homes has to be very expensive to create a good profit margin.

Not pretending I know the cost to build a 4 story row-home but it can not be cheap giving this location.

Maybe they will make it gated for the exclusivity, but these are going to cost a pretty penny.
nolibs homes are selling for 750-1mil pretty easily. these will have elevators, amazing vviews, two car garages, still close to fishtown and nolibs, and a front yard that is a GIANT park. yeah. they'll sell fast.
     
     
  #7543  
Old Posted Mar 7, 2017, 2:27 AM
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The problem is there really is no clearly stellar use on the Waterfront right now. The portion at and adjacent to Chestnut through Walnut, where the cap is looking like it will knit it together to the city, is one thing. But the rest of it, separated by I-95 and Columbus, still seems to me to be a hard sell.
     
     
  #7544  
Old Posted Mar 7, 2017, 2:49 PM
New2Fishtown New2Fishtown is offline
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The problem is there really is no clearly stellar use on the Waterfront right now. The portion at and adjacent to Chestnut through Walnut, where the cap is looking like it will knit it together to the city, is one thing. But the rest of it, separated by I-95 and Columbus, still seems to me to be a hard sell.
The difference in NoLibs/Fishtown is that Columbus and I-95 do not rub up against one another. The river turns NE, the city gets wider, and the highway rises above grade, the result being that there's more blocks of actual city east of the highway. Really starting north of the BFB, there's enough land east of 95 to imagine that if you fully developed the parcels on all sides, it would feel like a cohesive neighborhood and the highway would not really be a consideration. While nothing super exciting has happened, you can see this playing out north of Spring Garden where dozens of townhomes have sprouted and a 5-story apt building is under construction at the Spring Garden MFL stop. Until more of this happens, development on piers will feel quite removed, which could be seen as a con, but it's also very quiet near Penn Treaty Park, so I could see waterfront townhomes feeling like a reasonable choice.

The issue with every pier except for Festival Pier is that they are tiny, so there's limited options for anything of scale. I'd argue that more important than whether we see low, mid, or high-rise projects on these smaller piers is whether they cooperate with granting easements for a continuous trail on the water's edge, and whether they greet Delaware Ave decently. If those two things happen repeatedly up and down, the long-term goal is achieved: continuous recreational access from Penn Treaty Park down to Penn's Landing and beyond, and an unoffensive streetscape on Delaware. Of course, in NoLibs/Fishtown, the linchpin is Festival Pier: if this moves forward and delivers on its promises, it creates a fantastic precedent and strong anchor that will instill confidence for development nearby. We shall see.
     
     
  #7545  
Old Posted Mar 7, 2017, 4:39 PM
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2400 Market - Aramark new HQ's

John Klein from Flickr - terrific stuff.

[IMG]DJI_0402 by Jonn Klein, on Flickr[/IMG]
     
     
  #7546  
Old Posted Mar 7, 2017, 8:13 PM
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Originally Posted by cafeguy View Post
nolibs homes are selling for 750-1mil pretty easily. these will have elevators, amazing vviews, two car garages, still close to fishtown and nolibs, and a front yard that is a GIANT park. yeah. they'll sell fast.
I get that there are some homes selling for up to I mil in No Libs, they are few and far between. These are going to have to be priced well over 1 mil for a decent profit.

I guess the research suggest that the area is ready to support that. I don't know
     
     
  #7547  
Old Posted Mar 7, 2017, 8:43 PM
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Originally Posted by Flyers2001 View Post
I get that there are some homes selling for up to I mil in No Libs, they are few and far between. These are going to have to be priced well over 1 mil for a decent profit.

I guess the research suggest that the area is ready to support that. I don't know
Just the math alone on each of the 19 parcels average out to be around 360k. Put a 4 story structure on each, and tying in underground utilities, driveways, foundation work, will certainly cost a pretty penny. These costs are pass on to the purchasers in the sales price.
     
     
  #7548  
Old Posted Mar 8, 2017, 1:00 AM
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Hale Building...?

Does anyone know what is happening with the Hale Building? I was so excited when a restoration was announced, scaffolding went up, etc...but I walked by the other day and it didn't look like much had happened.
     
     
  #7549  
Old Posted Mar 8, 2017, 3:04 AM
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Yes, you could be right. Perhaps these parts of the Delaware are sufficiently large to be standalone, successful neighborhoods.

Quote:
Originally Posted by New2Fishtown View Post
The difference in NoLibs/Fishtown is that Columbus and I-95 do not rub up against one another. The river turns NE, the city gets wider, and the highway rises above grade, the result being that there's more blocks of actual city east of the highway. Really starting north of the BFB, there's enough land east of 95 to imagine that if you fully developed the parcels on all sides, it would feel like a cohesive neighborhood and the highway would not really be a consideration. While nothing super exciting has happened, you can see this playing out north of Spring Garden where dozens of townhomes have sprouted and a 5-story apt building is under construction at the Spring Garden MFL stop. Until more of this happens, development on piers will feel quite removed, which could be seen as a con, but it's also very quiet near Penn Treaty Park, so I could see waterfront townhomes feeling like a reasonable choice.

The issue with every pier except for Festival Pier is that they are tiny, so there's limited options for anything of scale. I'd argue that more important than whether we see low, mid, or high-rise projects on these smaller piers is whether they cooperate with granting easements for a continuous trail on the water's edge, and whether they greet Delaware Ave decently. If those two things happen repeatedly up and down, the long-term goal is achieved: continuous recreational access from Penn Treaty Park down to Penn's Landing and beyond, and an unoffensive streetscape on Delaware. Of course, in NoLibs/Fishtown, the linchpin is Festival Pier: if this moves forward and delivers on its promises, it creates a fantastic precedent and strong anchor that will instill confidence for development nearby. We shall see.
     
     
  #7550  
Old Posted Mar 8, 2017, 12:44 PM
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Does anyone know what is happening with the Hale Building? I was so excited when a restoration was announced, scaffolding went up, etc...but I walked by the other day and it didn't look like much had happened.
I said something similar months back. It has been dead for a long time. Some new or amended permits were issued in late 2016 based on what I saw online but there is zero activity. Brickstone projects have stalled for whatever reason. Same applies to the structures next to Target.
     
     
  #7551  
Old Posted Mar 8, 2017, 3:10 PM
New2Fishtown New2Fishtown is offline
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I said something similar months back. It has been dead for a long time. Some new or amended permits were issued in late 2016 based on what I saw online but there is zero activity. Brickstone projects have stalled for whatever reason. Same applies to the structures next to Target.
As I think I mentioned on this forum when this last came up, both the project next to Target and the Hale are creative office projects and cannot move forward without signed office tenants. The most likely situation is that the lease we thought they'd secured for the Hale has yet to sign or has stalled completely, and that they've yet to sign anyone to the space next to Target. The office market is not strong enough for Brickstone to build out these unconventional spaces speculatively. Generally speaking, there is strong demand for this kind of space (look at what Vanguard is taking for its Center City spot, 2300 Chestnut), so hopefully they aren't completely dead projects.
     
     
  #7552  
Old Posted Mar 8, 2017, 3:15 PM
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I heard the hale building has a tenant that's taking all upper floors for short term office rentals.
     
     
  #7553  
Old Posted Mar 8, 2017, 4:13 PM
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Originally Posted by New2Fishtown View Post
As I think I mentioned on this forum when this last came up, both the project next to Target and the Hale are creative office projects and cannot move forward without signed office tenants. The most likely situation is that the lease we thought they'd secured for the Hale has yet to sign or has stalled completely, and that they've yet to sign anyone to the space next to Target. The office market is not strong enough for Brickstone to build out these unconventional spaces speculatively. Generally speaking, there is strong demand for this kind of space (look at what Vanguard is taking for its Center City spot, 2300 Chestnut), so hopefully they aren't completely dead projects.
work is back underway as of today. Demo crew on site.
     
     
  #7554  
Old Posted Mar 8, 2017, 6:01 PM
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work is back underway as of today. Demo crew on site.
Hale or the space next to Target?
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  #7555  
Old Posted Mar 8, 2017, 7:50 PM
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Hale or the space next to Target?
Hale. NOthing at the other buildings.
     
     
  #7556  
Old Posted Mar 9, 2017, 5:53 PM
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More density near Jeweler's Row is possible. Building addition to create 54 units

http://www.philly.com/philly/busines...-proposal.html
     
     
  #7557  
Old Posted Mar 10, 2017, 4:37 PM
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  #7558  
Old Posted Mar 10, 2017, 4:48 PM
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Coffins found at Old City, 218 Arch construction site

Read more here:
http://philly.curbed.com/2017/3/9/14...18-arch-street
     
     
  #7559  
Old Posted Mar 10, 2017, 4:49 PM
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2400 Market - Iconic Whaling Wall mural nearing its final days on the Schuylkill

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http://philly.curbed.com/2017/3/10/1...hia-demolition
     
     
  #7560  
Old Posted Mar 10, 2017, 4:59 PM
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^ The Schuylkill Whale: a species so endangered that it never existed. Now even their memory will be gone.
     
     
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