PHILADELPHIA-CAMDEN-WILMINGTON-ATLANTIC CITY-READING | Metro Development Thread

[OslPhlWasChi]

Originally Posted by jonesrmj

Is it just me, or that it really bothers me that Delaware is the only state in the nation without commercial air service. I get that Philly Intl is only a 25 min. drive, but that I do not like that airport and parking there is overpriced. Baltimore (which is a 45min-1hr drive) is okay, but Baltimore almost always has severe traffic, making the drive a pain. Frontier (which was the most recent airline to leave Wilmington Airport) confuses me on why it left. Flight occupency was over 80%, and when I flew them out of Wilmington (2 years ago), it was a fantastic experience. Cheap airfare, free parking, and the terminal (while small) is a lot quicker and nicer than Philly's or Baltimore's airport. It was very disappointing when they left for me. Does anybody else feel this too?

(I know this is kind of off topic)

Airline service is similar to hotels in that there are two main metrics that need to be jointly examined when evaluating if a route or a hotel is profitable. In the case of hotels, you need to look at both occupancy AND average daily (room) rate. For airline service, its the same principle - load factors (or percentage of seats occupied as you have identified) as well as yield (or the average passenger ticket price per mile - the purchase price/unit like average daily rates).

So it is very possible the load factors are high and a route is not profitable due to low yields. This is especially the case on low cost carriers and ultra-low cost carriers, like Frontier, where their target market is the most cost-sensitive passengers.

[summersm343]

Originally Posted by jonesrmj

Is it just me, or that it really bothers me that Delaware is the only state in the nation without commercial air service. I get that Philly Intl is only a 25 min. drive, but that I do not like that airport and parking there is overpriced. Baltimore (which is a 45min-1hr drive) is okay, but Baltimore almost always has severe traffic, making the drive a pain. Frontier (which was the most recent airline to leave Wilmington Airport) confuses me on why it left. Flight occupency was over 80%, and when I flew them out of Wilmington (2 years ago), it was a fantastic experience. Cheap airfare, free parking, and the terminal (while small) is a lot quicker and nicer than Philly's or Baltimore's airport. It was very disappointing when they left for me. Does anybody else feel this too?

(I know this is kind of off topic)

You sort-of answered your own questions. With PHL and Balt airport so close, it would just be overkill. Plus, the Northern two Delaware counties are technically a part of the Philadelphia area. New Castle County is the Philadelphia Metro area, and honestly pretty close to PHL. It's closer to PHL than say, Bucks, PA or Burlington, NJ counties.

[EastSideHBG]

Despite vibrancy in Philly's suburbs, home values still struggle
Updated: MAY 27, 2017 — 3:01 AM EDT

If the massive cluster of new housing, shops, and restaurants rising in King of Prussia is any indication, the suburbs are as prosperous as ever. There, as elsewhere across the Philadelphia region, developers have poured millions into new developments and town squares, betting on the prospect that Philadelphia itself can’t stay attractive — or affordable — forever.

It makes sense: Since 2010, every suburban county in the region except for Camden County has seen its population grow. Communities such as Ardmore and Media have enjoyed new success after rethinking their downtowns. And corporations have been ditching the city for the suburbs, heading to municipalities they say can offer lower taxes.

There’s just one flaw in this picture: Nearly 10 years after the housing bubble burst, the median home-sale price in the Philadelphia suburbs is down 11 percent, having dropped $27,000, from $242,950 in the first quarter of 2007 to $216,000 in 2017. And few signs exist that the suburbs will regain their pre-housing-bust vigor quickly.

It’s posing a problem for some suburban homeowners — many of whom are holding on to their homes longer, for fear they may not be able to sell for a high enough price. And it’s causing ripple effects across the market, resulting in fewer properties for sale and bidding wars for those that are, and a growing challenge for first-time buyers and the middle class to find houses they can afford.

http://www.philly.com/philly/busines...-20170527.html

[PhilliesPhan]

The new apartment building on Baltimore Pike and Brooke Street:











Across the street, two more projects are finishing up:

[PA Castaway]

[QUOTE=PhilliesPhan;7819073]The new apartment building on Baltimore Pike and Brooke Street. Across the street, two more projects are finishing up:

Looks like some great things happening in Media, thanks for the updates!

[summersm343]

Delaware River channel deepening gets final $29.25M

Read more here:
http://www.philly.com/philly/busines...-20170530.html

[summersm343]

Lankenau Medical Center expanding ER

Read more here:
http://www.philly.com/philly/busines...-20170530.html

[domodeez]

From 5/15:

Originally Posted by domodeez

Scaffolding going up...

Earlier today 5/31:

[domodeez]

Originally Posted by domodeez

Thursday 4/27:

Earlier today 5/31:

[domodeez]

Earlier today 5/31:









Added a floor since last update 5/12 http://forum.skyscraperpage.com/show...postcount=1568

.

[summersm343]

Kellogg to close Horsham facility, cutting nearly 300 jobs

Read more here:
http://www.bizjournals.com/philadelp...fs-pennsy.html

[summersm343]

Why CardConnect acquisition will mean more jobs for King of Prussia

The payment processor was already planning on adding 40 jobs and was building out its space. Now that growth plan will be accelerated, CEO Jeff Shanahan said.

Becoming part of the much larger First Data Corp. via Monday’s announced $750 million acquisition is expected to be beneficial to King of Prussia-based payment processor CardConnect, and according to CEO Jeff Shanahan, it will also be significant for the Philadelphia region.

“First Data committing to Philadelphia is a big deal,” Shanahan said. “It says a lot about what they think of this region. And it’s going to mean a lot more jobs since we are part of a much bigger company now and will be working with more clients.”

In late 2015, CardConnect spent $3 million to upgrade its 28,000-square-foot headquarters that originally could accommodate up to 125 employees. It now houses 140 of the company’s total staff of 240 there. The rest are scattered across Cleveland, Denver, Kansas City and Hawaii, plus a number of employees work remotely.

Shanahan said CardConnect was already planning to add 40 more jobs in King of Prussia in 2017. It has begun creating a stairwell in its cafe that will lead to another floor of office space that will be able to accommodate 50 more employees.

“This [acquisition by First Data] will accelerate that growth,” Shanahan said.

Shanahan said the King of Prussia Town Center mixed-use project, located on North Gulph Road across from the King of Prussia Mall, has brought a new energy to the neighborhood around the company’s offices. But he added the lack of regional rail in King of Prussia has been a mitigating factor in recruitment and retention.

“We need rail service there,” Shanahan said. “I used to work in Tyson’s Corner and this reminds me of that situation [before it had rail service].”

The CardConnect brand will stay in tact and its management team will stick with First Data beyond a transition period. First Data is headquartered in Atlanta but its senior executive team, which joined the company in 2013 from JPMorgan Chase, is situated in New York, which makes meetings convenient.

http://www.bizjournals.com/philadelp...ding-jobs.html

[Urbanthusiat]

Zoning approval granted for SORA West redevelopment in Conshohocken

CONSHOHOCKEN >> Keystone Property Group, a leading real estate developer and investor of mixed-use and commercial properties, has announced it has received zoning approvals for SORA West, a dynamic, transit-oriented development in Conshohocken, which lies between Fayette, Elm and West 1st and Oak streets.

With the approvals in hand, Keystone is now poised to begin the development of a large-scale, multi-faceted development centered around a vibrant public plaza that will serve as a community event and gathering space for farmers’ markets, outdoor movies, yoga classes and other public uses.

The plaza will be flanked by a 250,000-square-foot office building with retail and dining; a 171-key hotel with significant restaurant space and a rooftop lounge; the existing 139-year-old Conshohocken Firehouse, which will be recreated as a brewpub with an indoor/outdoor experience; and a 950-space parking structure to support these facilities.

The project enjoys a convenient location that allows for easy travel to Philadelphia and all of Eastern Pennsylvania via the adjacent Conshohocken SEPTA train station. The property is also located in close proximity to Routes 76 and 476.

More info at: http://www.timesherald.com/general-n...n-conshohocken

[Nova08]

Should be interesting to see that project in Conshohocken get off the ground. There have been a few proposed projects only to end up stalled. I definitely like the concept, but I have to admit the area is already quite gridlocked during rush hour.

[jonesrmj]

Originally Posted by jonesrmj

I don't know about any of you but have you seen a sign in downtown Wilmington at the corner of DE-52 and Jefferson Street saying about a tower to be built there. The rendering shows that it will connect to an existing 9 story parking garage there.

Rendering:


Sign:


I counted the stories and it appears to be 35 floors high (Including the base). That's around 508ft!
I hope it gets built.

Remember when I posted this a while back. Well, What do you think is going to happen to this lot. The sign is still up, but people have said that it's just a parcel for sale with that picture to attract investors. Do you think at some point, a skyscraper will rise here? I am happy with the current Wilmington development, but I really want to see some skyscrapers.

[Jawnadelphia]

^It will probably be there for a while -- I remember this sign stood for about 10 yrs before Brandywine Realty Trust sold the lot, and removed the sign, and still nothing has been built here. Going on 11-12 yrs now....
[IMG]

So basically, I would say this, unless you hear that B/P Group has purchased this parcel... don't expect anything to be built here very soon.

[JohnIII]

Originally Posted by jonesrmj

Remember when I posted this a while back. Well, What do you think is going to happen to this lot. The sign is still up, but people have said that it's just a parcel for sale with that picture to attract investors. Do you think at some point, a skyscraper will rise here? I am happy with the current Wilmington development, but I really want to see some skyscrapers.

If they did build this building at 508 feet; it would be nice; it would be the tallest building in Wilmington; in Delaware; and the tallest in the Philadelphia Metro Region outside Philadelphia (except for Atlantic City) but it seems cool.

[Nomad9]

Sorry if personal advice questions aren't allowed in these threads, but can anyone tell me if Midtown Brandywine is a decently safe area? I'm moving to Wilmington soon and I'd really like to live someplace urban-ish that's within easy walking or biking distance of work (downtown). Looks like this small enclave is pretty nice and I know the immediate surrounding area is generally fine during the workday, but I'm curious as to what it's like to live there.

[jsbrook]

Originally Posted by Nomad9

Sorry if personal advice questions aren't allowed in these threads, but can anyone tell me if Midtown Brandywine is a decently safe area? I'm moving to Wilmington soon and I'd really like to live someplace urban-ish that's within easy walking or biking distance of work (downtown). Looks like this small enclave is pretty nice and I know the immediate surrounding area is generally fine during the workday, but I'm curious as to what it's like to live there.

Where will you be working? I'm not sure this neighborhood quite 'exists' yet. The idea behind the Residences at Midtown Park is to sort of bridge the gap between redevelopment efforts along Market Street and a proposed creative district just west of downtown they are trying to create. How about Market Street? I briefly lived part-time in Wilmington for about a year, and I'd probably live on Market if I was to do it again. The Riverfront is also decent. But quieter with a different feel. A little more suburban. That's where I actually lived when I spent time there. Domodeez and TallCoolOne either live or lived in Wilmington and know the city well and may have some thoughts.

[Jawnadelphia]

Originally Posted by Nomad9

Sorry if personal advice questions aren't allowed in these threads, but can anyone tell me if Midtown Brandywine is a decently safe area? I'm moving to Wilmington soon and I'd really like to live someplace urban-ish that's within easy walking or biking distance of work (downtown). Looks like this small enclave is pretty nice and I know the immediate surrounding area is generally fine during the workday, but I'm curious as to what it's like to live there.

It's ok. Close to downtown definitely--short walk (you might be bored though). I lived in Trolley Square, and Happy Valley areas of Wilmington before moving to Philly (so the west side of I-95, which cuts the city in two). The areas further north west of I-95 ... Trolley Square/Forty Acres, and the Highlands, and areas around Bancroft Parkway are the nicest, safest areas. Well, the Riverfront too... but it's a sort of suburban office park feel with apts/condos on the River (very new and nice though, but very car-centric).
You can definitely ride a bike from Trolley Square into downtown, which is really the only neighborhood in Wilmington that has all the amenities a young professional type might be looking for (if this is you): cafes, restaurants/bars, grocery store (although the Acme is what it is), Brandywine Park is super close, mostly younger professional types, great old housing stock, plenty of apts though too, and close to fun summer time festivals...Greek Fest, Italian Fest, etc.
The only real crime issue I had living in the places I was at -- had a bike stolen. But that can happen in anywhere.

http://data.delawareonline.com/webapps/crime/map/
This is a little dramatic, but if you zoom in using this map -- it shows all of the shootings/homicides locations recently in Wilmington. You can see where most of Wilmington's gang related/drug crimes are located.

Downtown Wilmington... is still a work in progress, but B/P Group is building a ton of new apts, so hopefully soon it has the critical mass of people/business to give it a real neighborhood feel 24 hrs a day. I'll be honest though, walking very far off Market St., say around midnight ... downtown still has a creepy feel to me that I've never felt anywhere near Center City Philly. Also, weekends-- Downtown is a ghost town.

(side note since your username is Nomad: downtown does have a great, little bar named Nomad- that usually has very good jazz/blues acts on weekends. Also, an excellent beer selection, and a nice mix of ages/diversity frequent there. Trolley Sq. is like 90%+ white yuppie... so just a head's up if looking for a little more flavor!).