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  #21  
Old Posted May 1, 2013, 5:38 PM
Insoluble Insoluble is online now
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I hear what you're saying about the financing and agree that that is usually the major hurdle. But I'm not quite as pessimistic about this one. It's a prominent and sizable lot with all the zoning etc. in place. Now that construction financing is starting to get a little easier I wouldn't be too surprised to see movement on this one.

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Originally Posted by Pennsgrant View Post
Id be shocked if this thing ever sees the light of day. First proposed in 2007? Ok
I can think of a few other 2007, 2008 proposals that have just recently seen the light of day, (Cira South for instance).
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  #22  
Old Posted May 2, 2013, 4:20 PM
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So my question is why would the Element Hotel Chain want to have 2 locations in Philadelphia now. According to Cop Linder the W. Hotel and Element will be splitting the Tower at 1441 Chestnut Street. Which one is more likely to get built?
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  #23  
Old Posted May 2, 2013, 8:24 PM
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Originally Posted by ConstructStudent View Post
So my question is why would the Element Hotel Chain want to have 2 locations in Philadelphia now. According to Cop Linder the W. Hotel and Element will be splitting the Tower at 1441 Chestnut Street. Which one is more likely to get built?
I think the author of the article was just using Element as an example of what type of hotel could occupy the space available in this tower. Element is going to be built at 1441 along with a W Hotel on top of it. This location will be primarily residential apartments and maybe 5 floors of hotel. Probably a small boutique hotel similar to Element.
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  #24  
Old Posted May 2, 2013, 8:26 PM
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Quote:
Originally Posted by Pennsgrant View Post
The writer seemed so gung-ho. Then he drops this liitle nugget at the end..... tic tic tic..... Have a feeling its going to be a long while before that financing and contract signings happen.

Its the projects you dont hear about and stay under the radar that usually happen. Id be shocked if this thing ever sees the light of day. First proposed in 2007? Ok


so the tower can legally start construction whenever they have all the financing and contracts signed
Cira South, Castelway Tower, 1601 Vine, Marina View, etc. etc. are all returning from their 2008 slumber. The market is picking back up and projects that were proposed in the past are starting to thaw out. The developers have been really pushing for this project for a while, which shows they have not given up and are pretty serious about getting this thing done. I'm pretty optimistic about this one.
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  #25  
Old Posted Nov 8, 2013, 3:27 AM
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Developers of this project are talking to property management companies... which means this project is probably moving forward.
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  #26  
Old Posted Nov 20, 2013, 2:13 AM
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Developers of this project are talking to property management companies... which means this project is probably moving forward.
I saw some info about this project and a couple of new renderings I will try and post them.
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  #27  
Old Posted Nov 20, 2013, 6:04 AM
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I saw some info about this project and a couple of new renderings I will try and post them.
Very nice
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  #28  
Old Posted Nov 22, 2013, 3:04 PM
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Very nice

So as of right now there are numerous amounts of facade options that I saw so it is pointless to post one now. Once the facade options get narrowed down I will post something.
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  #29  
Old Posted Nov 22, 2013, 5:01 PM
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So as of right now there are numerous amounts of facade options that I saw so it is pointless to post one now. Once the facade options get narrowed down I will post something.
Sounds great! Sounds like this one is moving forward which is huge! We need more highrises East of Broad.
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  #30  
Old Posted Nov 22, 2013, 5:15 PM
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I am excited to see the renderings. The location of this building will add some nice density to the expanding highrises. Hopefully, the St. James begins to have some neighbors and Chestnut and Walnut.
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  #31  
Old Posted Nov 23, 2013, 9:42 PM
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Will Fergie's be demolished for this?
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  #32  
Old Posted Nov 23, 2013, 11:46 PM
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Will Fergie's be demolished for this?
No. I don't think so.
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  #33  
Old Posted Nov 24, 2013, 2:36 AM
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No. I don't think so.
Nope they are going to build around it.
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  #34  
Old Posted Nov 24, 2013, 8:07 PM
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After checking out the u3 ventures website... im pretty skeptical tgat this ever happens

These people have never developed anything... they raised 15mm at the height of the market and tied it up at this site I guess...

They appear to be academics, not real estate people... unless they bring in a serious and deep pocketed real estate person as co-developer, I dont see how u3 could pull this off

I live and work in the neighborhood... would love to see this built but my mind is blown by whos behind it
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  #35  
Old Posted Nov 24, 2013, 8:44 PM
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Quote:
Originally Posted by Larry King View Post
After checking out the u3 ventures website... im pretty skeptical tgat this ever happens

These people have never developed anything... they raised 15mm at the height of the market and tied it up at this site I guess...

They appear to be academics, not real estate people... unless they bring in a serious and deep pocketed real estate person as co-developer, I dont see how u3 could pull this off

I live and work in the neighborhood... would love to see this built but my mind is blown by whos behind it
i heard goldenberg took it over from u3; not that that would make development any more likely.
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  #36  
Old Posted Nov 24, 2013, 8:51 PM
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Quote:
Originally Posted by Larry King View Post
After checking out the u3 ventures website... im pretty skeptical tgat this ever happens

These people have never developed anything... they raised 15mm at the height of the market and tied it up at this site I guess...

They appear to be academics, not real estate people... unless they bring in a serious and deep pocketed real estate person as co-developer, I dont see how u3 could pull this off

I live and work in the neighborhood... would love to see this built but my mind is blown by whos behind it
If they are talking with property management companies, it is probably likely. Every company has to start somewhere. They could be wealthy individuals or children of wealthy individuals looking to break into the real estate game. Or, as Cro said, they could have sold the land, development plans and Planning Commission approvals to another developer. Or they could be partnered with a credible developer. Either way, don't be so quick to dismiss this.
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  #37  
Old Posted Nov 24, 2013, 9:40 PM
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Quote:
Originally Posted by Cro Burnham View Post
i heard goldenberg took it over from u3; not that that would make development any more likely.
Thats promising.. he could probably pull it off
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  #38  
Old Posted Nov 24, 2013, 9:45 PM
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Quote:
Originally Posted by summersm343 View Post
If they are talking with property management companies, it is probably likely. Every company has to start somewhere. They could be wealthy individuals or children of wealthy individuals looking to break into the real estate game. Or, as Cro said, they could have sold the land, development plans and Planning Commission approvals to another developer. Or they could be partnered with a credible developer. Either way, don't be so quick to dismiss this.
Ya my initial post may seem harsh... I was very shocked at the time.. academics living in fantasyland is a pet peeve of mine, hope they can pull it off
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  #39  
Old Posted Nov 24, 2013, 10:08 PM
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Originally Posted by Larry King View Post
Ya my initial post may seem harsh... I was very shocked at the time.. academics living in fantasyland is a pet peeve of mine, hope they can pull it off
These aren't exactly "academics" as that term is usually used, i.e., professors with little real-world experience. These are former real estate development officers and advisors, at least a couple of whom (Omar Blaik and Alicia Kodadek) ran one of the largest and most successful urban real estate development programs in the city and state, if not the country, on behalf of one of the wealthiest universities in the country (Penn). I think these folks know how to get stuff done, especially in Philly.
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  #40  
Old Posted Nov 24, 2013, 10:17 PM
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Originally Posted by Philly Fan View Post
These aren't exactly "academics" as that term is usually used, i.e., professors with little real-world experience. These are former real estate development officers and advisors, at least a couple of whom (Omar Blaik and Alicia Kodadek) ran one of the largest and most successful urban real estate development programs in the city and state, if not the country, on behalf of one of the wealthiest universities in the country (Penn). I think these folks know how to get stuff done, especially in Philly.
Interesting
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