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  #41  
Old Posted Aug 3, 2016, 8:45 PM
New2Fishtown New2Fishtown is offline
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New marketing pdf

Their materials have been updated slightly: http://ucitysquare.com/inc/overview.pdf

The new version is the first I've seen to mention a delivery date for "One UCity Square." They give it a 2018 delivery date on Page 7. That same page also calls out 3400 and 3800, projects that've been on the table for awhile, but interesting to see them give some sort of prioritization to the buildout beyond 3675.
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  #42  
Old Posted Aug 3, 2016, 8:49 PM
christof christof is offline
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2018? I'll believe it when I see it.
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  #43  
Old Posted Aug 3, 2016, 9:11 PM
3rd&Brown 3rd&Brown is offline
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Spark Therapeutics in bldg 1?

Over / under?
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  #44  
Old Posted Aug 3, 2016, 9:49 PM
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Quote:
Originally Posted by 3rd&Brown View Post
Spark Therapeutics in bldg 1?

Over / under?
It seems incredibly likely.
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  #45  
Old Posted Sep 22, 2016, 12:19 AM
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One uCity Square

Definitely seems as if this will be the first building.



389K sq ft of office space with ground floor retail. Building will be 13 floors in total and 221 FT tall.

-Access to Science Center technology commercialization, incubation and workforce development programs, as well as Quorum, the entrepreneurs clubhouse

-Speculative lab/office space featuring high ceilings and large floor plates
Café/Restaurant on-site

-Ground floor convening space and rooftop terrace

-Signature tenant winter atria

-Adjacent to future public space

-Attractive lobby entrance and security

-Activated streetscape and retail space

-Nearby access to day care facilities, an urban grocer, and modern fitness center

-On-site parking

http://ucitysquare.com/property/one-ucity-square/
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  #46  
Old Posted Sep 22, 2016, 12:24 AM
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3700 Lancaster

Looks like the first residential buildings at uCity Square is moving forward. Looks to be 6 floors, have 320 apartments and ground floor retail.





Currently in pre-development, 3700 Lancaster is a low-rise market-rate apartment building offering studio, efficiency, 1-bedroom, and 2-bedroom apartments. Located on the historic Lancaster Avenue corridor and just steps from the labs, offices, maker spaces, and amenities throughout uCity Square, 3700 Lancaster will place residents at the intersection of history and innovation.

http://ucitysquare.com/property/3700-lancaster-avenue/
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  #47  
Old Posted Sep 22, 2016, 2:32 PM
christof christof is offline
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This is a pleasant surprise. I heard rumblings that the rental market in University City was over-saturated and that this project was being pushed back for a while.

The design, however, is lackluster.
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  #48  
Old Posted Sep 22, 2016, 3:27 PM
New2Fishtown New2Fishtown is offline
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I heard recently that 3601 Market is only about 60% leased up after being open for a full year. That is likely far below projections for a building like that, so I'd be surprised for the same developer to move forward anytime soon with additional supply.
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  #49  
Old Posted Sep 22, 2016, 3:48 PM
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Quote:
Originally Posted by New2Fishtown View Post
I heard recently that 3601 Market is only about 60% leased up after being open for a full year. That is likely far below projections for a building like that, so I'd be surprised for the same developer to move forward anytime soon with additional supply.
If this is true developers need to pressure the city government to reform policies that are keeping new businesses away.
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  #50  
Old Posted Sep 22, 2016, 4:22 PM
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Originally Posted by New2Fishtown View Post
I heard recently that 3601 Market is only about 60% leased up after being open for a full year. That is likely far below projections for a building like that, so I'd be surprised for the same developer to move forward anytime soon with additional supply.
3737 Chestnut is 96% leased... so it's not the UCity market.
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  #51  
Old Posted Sep 22, 2016, 4:26 PM
anotar89 anotar89 is offline
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Quote:
Originally Posted by New2Fishtown View Post
I heard recently that 3601 Market is only about 60% leased up after being open for a full year. That is likely far below projections for a building like that, so I'd be surprised for the same developer to move forward anytime soon with additional supply.
I'm not sure where you heard 60% from but when I interviewed at one of SLC's competitors a few months ago they seemed to think 3601 Market was 90% leased. It's possible the company I interviewed at had their numbers wrong but it's tough to believe they would be that far off in their market research.

If what I heard was correct, and you consider that 38th and Chestnut is close to 100%, then the area should be able to absorb more apartments. On the other hand, if what you heard was correct then the UCity may take a lot longer than we all would hope for.
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  #52  
Old Posted Sep 22, 2016, 8:04 PM
New2Fishtown New2Fishtown is offline
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Originally Posted by summersm343 View Post
3737 Chestnut is 96% leased... so it's not the UCity market.
Yeah I noted this as well. Bizarre that two projects that finished at almost the same time with such similar amenity profiles would lease up so differently. If anything, 3601 appears to have the better amenity package on paper, better (still not open) retail options at street level, and a location that's arguably as good as 3737. I recall they opened in Sept, so I think we could attribute some of it to missing back-to-school opportunities, but then I would expect them to make up most of that ground in this current quarter. Perhaps the next month's worth of data will show that they've closed the gap. I've never toured either building's interior, so perhaps there's something problematic about 3601. Or they're just asking too much.
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  #53  
Old Posted Sep 22, 2016, 8:08 PM
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Originally Posted by New2Fishtown View Post
Yeah I noted this as well. Bizarre that two projects that finished at almost the same time with such similar amenity profiles would lease up so differently. If anything, 3601 appears to have the better amenity package on paper, better (still not open) retail options at street level, and a location that's arguably as good as 3737. I recall they opened in Sept, so I think we could attribute some of it to missing back-to-school opportunities, but then I would expect them to make up most of that ground in this current quarter. Perhaps the next month's worth of data will show that they've closed the gap. I've never toured either building's interior, so perhaps there's something problematic about 3601. Or they're just asking too much.
May be just asking too much for the UCity market. Who knows... guess we'll see where they are in the lease up soon. I haven't seen any information
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  #54  
Old Posted Sep 23, 2016, 11:09 AM
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3601 is slightly higher in amenities, higher in price, and (IMHO) in a lesser location at the moment - 36th and Market is dead @ 5pm. I think the first teaser was listing studios starting at $1700 and advertising quartz counter tops, etc. I balked then, and I balk a little less now but certainly still balk.

If this building was placed right in the heart of center city, those rents make sense because owning a similar sized unit with the same amenities a short distance away (eg condo in a subdivided home in Fitler Square) will drop your price ~ 25%, but at 36th and Market a short distance away (eg condo in a subdivided home in Powelton Village) would drop your price ~ 50+%. Or, the way I usually pitch it, for the same price you can have 6x the space just a few blocks away.

I've been accused of being off topic for this before as its not construction related, and owning and renting are very different, etc, and I get all that. This parcel is interesting to me, though, cause it's dense development situated at the very very edge of the market.
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  #55  
Old Posted Sep 23, 2016, 12:24 PM
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Quote:
Originally Posted by New2Fishtown View Post
I heard recently that 3601 Market is only about 60% leased up after being open for a full year. That is likely far below projections for a building like that, so I'd be surprised for the same developer to move forward anytime soon with additional supply.
the pricing may have something to do with that.
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  #56  
Old Posted Nov 17, 2016, 11:17 PM
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According to Curbed Philly, 3700 Lancaster - the 6-story apartment building - will start construction early next year.

http://philly.curbed.com/maps/univer...r-construction
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  #57  
Old Posted Nov 18, 2016, 12:28 AM
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Ditto for the University City District Report:

http://www.universitycity.org/sites/...y%202017_0.pdf
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  #58  
Old Posted Feb 14, 2017, 6:25 PM
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A leaky apartment ceiling brought me up 36th Street during lunch. Got some shots of the overall uCity Square site (obviously lots of activity around 3675).







Also, last I read, 3700 Lancaster was supposed to have its groundbreaking sometime in Q1. Now that we're basically half way through Q1, has anyone heard anything about this lately?

I checked their site which use to have groundbreaking listed as Q1 2017 on the 3700 Lancaster Ave page, but now it is just giving the old 404 Error. All the other building links are still working and seem up to date. Hoping everything is still on schedule.

Last edited by Groundhog; Feb 15, 2017 at 1:36 AM.
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  #59  
Old Posted Feb 14, 2017, 11:22 PM
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Yeah I've been wondering what's been going on here. I pass by the site everyday and it always seems barren(with the exception of the market street development.)
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  #60  
Old Posted Feb 15, 2017, 1:07 PM
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the only permit activity is for residential building with the address 3600 lancaster. I believe there is a school building there and it seems like there will be additions to make apt building. Drexel will be owner of this building according to the site plan.
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