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  #601  
Old Posted Feb 25, 2017, 4:42 PM
reparcsyks reparcsyks is offline
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Originally Posted by volguus zildrohar View Post
Crying over lost height isn't something that I get into anymore but the way that this particular case has played out is hopelessly depressing.

The demolition of The Boyd is the true sad aspect. It was possible to salve the loss of that unique building with the fact that something a bit more than average schlock was going up in its place. Now it seems that that is no longer the case due to current market forces. What's ironic is that the project spent so much time being kicked around in development hell (due to the reaction to the initial POS concept) that by the time shovels are ready to hit the dirt the envisioned project may no longer be viable.

If 1910 becomes an understated, plain or - worse yet and most likely - ugly box - it will be a perfect monument to the state of large scale development in this city. There is no demand for real ingenuity or striking design in our civic DNA because collectively we don't care much about that here. The powers that be are happy as long as their boat isn't rocked or their palms are properly greased. Magnificent old buildings (of which our supply is appallingly shrinking) that actually carry value are razed and those pieces of our civic fabric get replaced with...whatever the hell.

I'll wait until the official word comes down about the downsizing but if it is truth then it will be the latest and among the saddest in a long line of disappointing downgrades, cancellations or bait-and-switches for a city that readily swallows them because the final product doesn't matter - this is Philly...as long as there's union hours amirite?
Nailed it. Perfect post.
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  #602  
Old Posted Feb 26, 2017, 1:48 PM
Rittenhouse1 Rittenhouse1 is offline
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Originally Posted by TempleGuy1000 View Post
There are quite a few apartments coming onto the market in a pretty small area.




Yes, but the East Market project recently accelerated their development timetable, adding the second tower immediately (with a lot of additional apartments) in what must be an inferior location to 19th and Chestnut. Does the market change that quickly? Do builders made decisions with multiple-year building timeframes and long-term consequences on the basis of such short-term data? It seems strange to me…but I am not a builder, nor in the Real Estate business.
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  #603  
Old Posted Apr 18, 2017, 12:15 AM
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As of 4/5/17, 1910 Chestnut has an updated permit:

FOR AMENDMENT OF BLDG PERMIT AP#646594 TO INCLUDE FOUNDATIONS, TEMPORARY BASEMENT STRUCTURE, ELEVATOR SHAFT, AND METAL DECKING INSTALLATION IN PREPARATION FOR FUTURE PHASE II WORK. (IEBC 2009, COMPLIANCE PATH: ADDITIONS) NO BREACH IN EXTERIOR WALLS LOCATED AT THE PROPERTY LINE ARE PERMITTED UNDER THIS ADMINISTRATIVE PERMIT. **SEPARATE PERMITS REQUIRED FOR DOCUMENTATION OF SPECIAL INSPECTORS RETAINED TO CONDUCT SPECIAL INSPECTIONS. SEPARATE PERMITS TO BE REQUIRED FOR ERECTION OF ABOVE-GRADE STRUCTURE AND OCCUPANCY. SEPARATE PA DEPT OF LABOR & INDUSTRY PERMIT REQUIRED FOR ELEVATOR INSTALLATION.**

Looks like a foundation permit has been issued for this building!
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  #604  
Old Posted Apr 18, 2017, 2:44 AM
mcgrath618 mcgrath618 is offline
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But will it be 407 ft or 290?
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  #605  
Old Posted Apr 18, 2017, 11:28 AM
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Originally Posted by mcgrath618 View Post
But will it be 407 ft or 290?
a recent permit update indicated it will be 271ft high.
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  #606  
Old Posted Apr 18, 2017, 2:36 PM
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Originally Posted by mcgrath618 View Post
But will it be 407 ft or 290?
In your heart, I think you know the answer.
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  #607  
Old Posted Apr 18, 2017, 3:34 PM
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I wonder if we'll get a new design or a midget version of the latest one.
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  #608  
Old Posted Apr 18, 2017, 4:05 PM
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Originally Posted by Knight Hospitaller View Post
I wonder if we'll get a new design or a midget version of the latest one.
I wish that Pearl would go back and announce that they are going with the original design, along with placing it on Chestnut Street. Unlikely to happen, but you can't blame a man for dreaming!



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  #609  
Old Posted Apr 18, 2017, 4:18 PM
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^^ I was thinking the same thing, although that was designed for the corner lot, not the Boyd (R.I.P.) parcel.
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  #610  
Old Posted Apr 18, 2017, 5:53 PM
City Wide City Wide is offline
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Originally Posted by Knight Hospitaller View Post
^^ I was thinking the same thing, although that was designed for the corner lot, not the Boyd (R.I.P.) parcel.
How could they have started with such a classy looking building and ended up 4 or 5 years later (min) with a empty lot and their 4th set of plans and who knows what they look like. I'm getting that feeling that this lot might be hanging around "as is" through this present cycle and on into the next one.

Do people think that the market could support both this project and 1911 Walnut St. at the same time? Or is it a race, in slow motion, to see who can get to the starting line first?

If it is one project or the other, which one would you like to see built first?

Last edited by City Wide; Apr 19, 2017 at 12:36 AM.
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  #611  
Old Posted Apr 18, 2017, 11:55 PM
jsbrook jsbrook is offline
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Originally Posted by City Wide View Post
How could they have started with such a classy looking building and ended up 4 or 5 years later (min) with a empty lot and their 4th set of plans and who knows what they look like. I'm getting that feeling that this lot might be hanging around "as is" through this present cycle and on into the next one.

Do people think that the market could support both this project and 1911 Walnut St. at the same time? Or is it a race, in slow motion, to see who can get to the starting line first?

I it is one project or the other, which one would you like to see built first?
Yes, this project has a sad history. If I had to choose, I'd choose the Walnut project. I think it will be more significant for the city and skyline. I don't think they are particularly competing though or necessarily have much impact on each other. 1911 Walnut is a mixed condo and rental, and I think the rental portion will be a wealthier demographic than 1910 Chestnut. I don't know that there's really that much overlap in their target renters.
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  #612  
Old Posted Apr 19, 2017, 12:12 PM
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The redesign and it only being 271 feet are disappointing to say the least. They had a chance for a real beauty here.
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  #613  
Old Posted Apr 19, 2017, 12:52 PM
Nova08 Nova08 is offline
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Originally Posted by jsbrook View Post
Yes, this project has a sad history. If I had to choose, I'd choose the Walnut project. I think it will be more significant for the city and skyline. I don't think they are particularly competing though or necessarily have much impact on each other. 1911 Walnut is a mixed condo and rental, and I think the rental portion will be a wealthier demographic than 1910 Chestnut. I don't know that there's really that much overlap in their target renters.
10 Rittenhouse, 500 Walnut, One riverside, and a few others are in varying states of ultra luxury. However, I have to admit many of the other 4-6 apartment buildings recently built or planned aren't cheap. One bedroom's typically start at $2,000/month. Someone with an $80k salary who wants to live in a one bedroom will spend about 1/3 of their after tax income on rent. And I emphasize start. The majority of the 1 bedroom units at the Bridge are $2,200-2,500/month.
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  #614  
Old Posted Apr 19, 2017, 1:19 PM
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Originally Posted by Nova08 View Post
10 Rittenhouse, 500 Walnut, One riverside, and a few others are in varying states of ultra luxury. However, I have to admit many of the other 4-6 apartment buildings recently built or planned aren't cheap. One bedroom's typically start at $2,000/month. Someone with an $80k salary who wants to live in a one bedroom will spend about 1/3 of their after tax income on rent. And I emphasize start. The majority of the 1 bedroom units at the Bridge are $2,200-2,500/month.
10 Rittenhouse, 500 Walnut, and One Riverside are condos so not comparators. I think the most likely comparators for 1911 Walnut rentals are the Versailles, 1401 Spruce (which should now deliver in 2018), and the Alison Building.

http://versaillesphilly.com/availability/

http://www.phillymag.com/property/20...ison-building/

http://1401spruce.com/ http://1401spruce.com/


I think 1911 Walnut is supposed to have more larger 2+ bedroom units, starting in the high $3000s like all of these places. While 1910 Chestnut will have more 1 bedrooms at a lower price range. Still likely above $2000 for a 1 bedroom, but different demographics and price points.
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  #615  
Old Posted Apr 19, 2017, 1:38 PM
Nova08 Nova08 is offline
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Originally Posted by jsbrook View Post
10 Rittenhouse, 500 Walnut, and One Riverside are condos so not comparators. I think the most likely comparators for 1911 Walnut rentals are the Versailles, 1401 Spruce (which should now deliver in 2018), and the Alison Building.

http://versaillesphilly.com/availability/

http://www.phillymag.com/property/20...ison-building/

http://1401spruce.com/ http://1401spruce.com/


I think 1911 Walnut is supposed to have more larger 2+ bedroom units, starting in the high $3000s like all of these places. While 1910 Chestnut will have more 1 bedrooms at a lower price range. Still likely above $2000 for a 1 bedroom, but different demographics and price points.
Ahh, duh...my bad. Still my point remains...A general $2000-3000/month range for 1 bedroom units ain't cheap. I wonder if people have/will forgo all the amenities these buildings provide and location to the peripheral areas that still have quality units, but for $300-800/month cheaper. Just speculating a possible reason why this has stalled for so long.
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