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  #61  
Old Posted Apr 17, 2013, 5:22 PM
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bryson662001 bryson662001 is offline
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Originally Posted by volguus zildrohar View Post
There wasn't a market for Mandeville Place back then - wayyyy to upmarket for Philadelphia. At least at that scale.
Actually 1706 Rittenhouse Square St is close to Mandeville in it's conception and it has been reasonably successful. The deal breaker at Mandeville was the very poor location for that class of residential space. If you recall I joked that on cook's night off the butler could walk to the Sunoco station on the corner and buy corn dogs for the boss's dinner LOL
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  #62  
Old Posted Apr 19, 2013, 1:35 AM
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Merged the old Castleway thread with this one. We'll see if chatter picks up. If there isn't anything substantive in the next couple of months or so I'll put this beast back whence it came.
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  #63  
Old Posted Apr 19, 2013, 1:35 PM
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Thanks Hammer. It was interesting reading through the 2008 posts. I'm optimistic about this one. I know the fact that they are doing soil testing doesn't mean that construction is sure to follow, but this is such a prominent location. And with the market heating up again, I just have a good feeling about this.
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  #64  
Old Posted Apr 19, 2013, 5:35 PM
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Originally Posted by hammersklavier View Post
Merged the old Castleway thread with this one. We'll see if chatter picks up. If there isn't anything substantive in the next couple of months or so I'll put this beast back whence it came.
Cool, thanks Hammmer Sounds like a plan
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  #65  
Old Posted Nov 6, 2013, 2:44 PM
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any news on this puppy?
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  #66  
Old Posted Nov 6, 2013, 4:42 PM
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any news on this puppy?
Nada.
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  #67  
Old Posted May 17, 2014, 3:33 PM
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Some updates on this lot. Toll Brothers was in talks to buy the lot and develop it:

http://www.bizjournals.com/philadelp....html?page=all

But then they could not come to an agreement and backed out of the deal:
http://www.bizjournals.com/philadelp...se-square.html

Now, Castleway, the original developer, seems to be back in the game:

Quote:
From the CCRA newsletter sent out today:

"Heard the phrase about always being a bridesmaid? Think about the winsome L shaped plot fronting on the north side of the 1900 block of Walnut Street through to Sansom then westbound to 20th Street. Since a 1994 fire shuttered the Eric Rittenhouse Theater, the parcel has circled the altar on many occasions. First there was a proposal for a parking garage and movie theater. Then an Irish developer, Castleway, pressed its troth promising not castles in the air but something more suitable for a city lass, a high rise featuring a north south access road running between Sansom and Walnut. Next was a brief affair, a fling really, with the Pennsylvania Horticultural Society which created a much enjoyed pop up garden - she never looked finer. After that dalliance, the Philadelphia Business Journal reported that Toll Brothers came a courting. But now, as happens in these matters, Castleway, the former suitor, is having second thoughts and has returned with promises of a luxury residential condominium high rise and boutique hotel with ground floor retail and underground parking. CCRA has appointed a task force to investigate the proposal."
Thanks to Domodeez for the info!
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  #68  
Old Posted May 18, 2014, 2:41 PM
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Originally Posted by summersm343 View Post
Some updates on this lot. Toll Brothers was in talks to buy the lot and develop it:

http://www.bizjournals.com/philadelp....html?page=all

But then they could not come to an agreement and backed out of the deal:
http://www.bizjournals.com/philadelp...se-square.html

Now, Castleway, the original developer, seems to be back in the game:



Thanks to Domodeez for the info!

Is castle way capable do pulling this off without a deep pocketed partner like toll? I thought they (cw) were nearly wiped out during the last downturn as in unable to pay taxes on the lot. What else have they done? This lot is absolutely my most hated in the city and I'd love to see it go, I'm just not optimistic without toll involved.
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  #69  
Old Posted May 29, 2014, 7:14 PM
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From the Center City District Report today:

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Castleway, an Irish development company, has presented the Center City Residents Association (CCRA) with a proposal for a luxury residential condominium high-rise and boutique hotel with ground- floor retail and underground parking, on an L-shaped parcel at 19th and Walnut Streets.

The 200,000-square-foot hotel would face Walnut Street between 19th and 20th Streets and behind it, looking over Sansom Street, would be the 350,000-square-foot condominium tower with 150 units, the Weekly Press reported on May 21. Retail space on the ground floor of both properties would cover 25,000 SF, and the ground floor of the hotel would also house the lobby.

Four underground parking levels would serve both buildings.

Architect Richard Farley of KlingStubbins has designed the project.
http://centercityphila.org/pressroom/ccnews052814.php
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  #70  
Old Posted Jun 2, 2014, 9:00 PM
acenturi acenturi is offline
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Originally Posted by summersm343 View Post
From the Center City District Report today:http://centercityphila.org/pressroom/ccnews052814.php
Seems the implication (from the article) is that the original Stubbins Basic design is the plan:
http://www.klingstubbins.com/ks_test...velopment.html
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  #71  
Old Posted Jul 22, 2014, 11:25 AM
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  #72  
Old Posted Jul 22, 2014, 1:14 PM
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Originally Posted by Kidphilly View Post
I think this is more of a "we have nothing to write about so rehash an old story we didn't cover well" article than a breaking news article. It cites a report from May as the source for the news. At least it's better than click bate.
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  #73  
Old Posted Jul 22, 2014, 2:07 PM
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Originally Posted by Baconboy007 View Post
I think this is more of a "we have nothing to write about so rehash an old story we didn't cover well" article than a breaking news article. It cites a report from May as the source for the news. At least it's better than click bate.
not sure I disagree. Am hopeful for this lot as its prime but time will tell

I wish something like Mandeville would come back as well
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  #74  
Old Posted Jul 22, 2014, 5:11 PM
Flyers2001 Flyers2001 is offline
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Originally Posted by Kidphilly View Post
not sure I disagree. Am hopeful for this lot as its prime but time will tell

I wish something like Mandeville would come back as well
If the info is right in the article about Rittenhouse fetching $1000/sq ft, it states that there is still a demand for the luxury condo in Rittenhouse and that there are not that many available in regards to open floor plans. New development should allow some flexibility in pre-order designs. The demand still seems to be there.
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  #75  
Old Posted Sep 23, 2014, 1:40 PM
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Anyone have any updates on this one? This would look amazing on the skyline if built!
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  #76  
Old Posted Sep 23, 2014, 5:13 PM
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Google broke-ass speculators from Ireland and Castleway, and see if you can guess where this is headed . . .
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  #77  
Old Posted Sep 23, 2014, 10:56 PM
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Originally Posted by Cro Burnham View Post
Google broke-ass speculators from Ireland and Castleway, and see if you can guess where this is headed . . .
This empty lot ...steps away from the world class public space that is Rittenhouse Square... is like a giant knocked out tooth on a super model. And nothing is going to happen until those current owners ("broke ass" as our friend Cro Burnham says)... are out of the picture.
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  #78  
Old Posted Sep 23, 2014, 11:01 PM
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Yeaaaahhhh... as long as it's owned by Castleway from Ireland, there is no shot at this being developed honestly. And they bought it for an insane amount of money at the height of the pre-recession Real Estate boom and now won't sell it because they'll take a hit.

Toll Brothers' were going to buy the lot but backed out of the deal when they realized they couldn't get the lot for a realistic price.
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  #79  
Old Posted Sep 24, 2014, 12:08 PM
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Originally Posted by summersm343 View Post
Yeaaaahhhh... as long as it's owned by Castleway from Ireland, there is no shot at this being developed honestly. And they bought it for an insane amount of money at the height of the pre-recession Real Estate boom and now won't sell it because they'll take a hit.

Toll Brothers' were going to buy the lot but backed out of the deal when they realized they couldn't get the lot for a realistic price.
Tragic. You shouldn't be allowed to hold onto a vacant lot (whether blighted or not) and do nothing with it in perpetuity. I'm not one for heavy-handed government and undue interference with private business decisions. But there should be SOME cap on the number of years you can let property sit unused in a city.
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  #80  
Old Posted Sep 24, 2014, 12:17 PM
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Yes, a tax code based on land value (in turn based on the zoning code and location) rather than improvements. Today, as I understand, under-utilized lots (parking lots, grass fields, and places like the Rite Aid on 21st and Walnut) pay less in real estate taxes than do owners of high-rises. This, despite the fact that high rises contribute FAR more to the city's economy than does an under-utilized lot. Taxing these speculators would force them to develop, sell, or at least pay a steep price for maintaining an eyesore.
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