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

[jonesrmj]

Originally Posted by domodeez

From 6/21:

Looking good. It's slowly but surely starting to look like the rendering:

[Urbanthusiat]

Originally Posted by wcphil

Interesting proposal with a pocket park in downtown west Chester.
http://www.dailylocal.com/general-ne...eller-building

Would love to see this. West Chester has a good amount of room for more urban development on the west side of town, particularly between the rail line and 202. It could take a major step towards that if we restored passenger rail service to West Chester. If it were up to me, I'd put a light rail line along WC pike to 69th street, and light rail to Wilmington along 202. I can dream at least.

[skiesthelimit]

Public, private sector officials celebrate groundbreaking for Christina River bridge

City of Wilmington, state of Delaware and private sector players met Friday afternoon to celebrate the beginning of construction on a bridge they say will be key to the revitalization of Delaware’s largest city.

In what is the latest government-funded effort in the decadeslong makeover of the Wilmington Riverfront, the bridge will be a "witness to the power of investment by the state," Wilmington Mayor Mike Purzycki said.

Officials hope the bridge – which will feature two 11-foot-wide vehicle lanes, along with 14 feet of bicycle and pedestrians pathways – will nudge Riverfront prosperity over the city's principal waterway to the economically depressed Southbridge area.

The span will roughly extend from where Justison Street ends, at the southern edge of the Riverfront, over the Christina River to a spot just north of James Court at U.S. 13.

"The obvious (value) for a lot of people will be being able to ease traffic congestion that occurs every time we have events down here," Purzycki said. “But the more strategic advantage is we tie both sides of the river together, and I think it’s going to propel growth on the (Southbridge) side of the river.”

City plans include corporate offices along the bank of the river and light industrial shops farther into the core of Southbridge, near Garasches Lane, Purzycki said. The Christina River bridge will "open up" more than 60 acres of land to be developed, he added.

Purzycki envisions a resulting transformation of the southern bank of the Christina, similar to one that occurred at Philadelphia's Navy Yard, which today is a 1,200-acre development that houses 152 companies, according to its website.

Read More: http://www.delawareonline.com/story/...dge/423993001/

__________________________________________________
and so it begins, big things coming to Wilmington!

[jonesrmj]

Originally Posted by skiesthelimit

Public, private sector officials celebrate groundbreaking for Christina River bridge



Read More: http://www.delawareonline.com/story/...dge/423993001/

__________________________________________________
and so it begins, big things coming to Wilmington!

Finally! It's been forever since I've herd from this project. Although, I still am unsure about why it's needed because when I'm down at the riverfront, I don't ever run into traffic issues.

[summersm343]

'Big Dig' event brings new community feel to Dranoff's Ardmore project

Read more here:
http://www.bizjournals.com/philadelp...s-big-dig.html

[skiesthelimit]

Originally Posted by jonesrmj

Finally! It's been forever since I've herd from this project. Although, I still am unsure about why it's needed because when I'm down at the riverfront, I don't ever run into traffic issues.

Well, on a normal day, there's no traffic, on a game day, some weekends, or if any kind of decent aized event occurs, leaving the riverfront is a pain and a half. Traffic is bumper to bumper from all the way back at the shipyard shoppes to the light to go 95, or the backway (behind the stadium) is backed up to the stop sign as well. It's always a mess, this bridge should make it 100 times easier to leave and alleviate a lot of traffic.

Secondly, if you look at both sides of the riverfront, they're drastically different and disconnected. On one, you have the almost complete, ever-growing, live, work, play vibe with a mix of urban flow.

On the other, you have expensive condos, and a barely leased shopping center anchored by a Shoprite, some industrial lots, and a depressed neighborhood. The bridge will join the two riverfronts, allowing the prosperity on the west side of the river to flow to the east, and redevelop/rebrand (gentrify) Southbridge into South Wilmington. The riverfront will really show it's potential, as will the city as a whole when this bridge is complete.

You, like me, and many others want another tower soon, and this bridge is one of the first steps to bringing us that new tower (if not several)!

[jonesrmj]

Originally Posted by skiesthelimit

You, like me, and many others want another tower soon, and this bridge is one of the first steps to bringing us that new tower (if not several)!

I see. I really do want a new skyscraper for our city, and I hope this 510ft. 35 floor giant gets built that I posted about earlier:



But like you, I drive by this site almost every day, and besided the old building that once stood here that was demolished, it's just been a parking lot with a misleading sign. But who knows, this might happen sooner that we think.

[summersm343]

More supply: Marriott hotel breaks ground in Chester County

The competition in Chester County's hotel industry will have at least one more player starting this summer as more than 100 new rooms are opening.

Supply in Chester County's hotel industry has been steadily growing, increasing year-over-year by 3.9 percent in 2016, according to hotel data and analytics firm STR.

Chester County has nearly 4,000 rooms spread out across 39 hotels.

Supply in 2015 grew 2.5 percent over 2014, which grew 2.2 over 2013. Demand grew 3.4 percent in 2016 over 2015, which decreased by 1.7 percent year over year. Demand in 2014 saw a year-over-year change of 8.5 percent after flat or nearly flat growth in 2013 and 2012.

A 124-room Fairfield Inn & Suites by Marriott will join the fold when it opens in early June 2017. It broke ground on June 23.

The hotel will operate as a Marriott franchise, but it will be owned by Gulph Creek Development and managed by Gulph Creek Hotels of Wayne, Pa.

The hotel is located within the Westlakes Corporate Park, owned by Keystone Property Group.

The Fairfield Inn & Suites by Marriott will be the first in the area to feature the brand's new design, according to Gulph Creek Development, which formed in 2008 and now has five properties in Chester County.

"It's a real positive for the county, getting new hotel rooms, particularly Marriott hotel rooms," Clarke Blynn, partner at Gulph Creek Development, told the Philadelphia Business Journal.

Marriott and Hilton dominate the Philadelphia area, so an additional Marriott product would be a boon for the region since travelers, particularly business travelers, seek particular properties to accumulate loyalty and rewards points.

"They look to the biggest chains first," Blynn said. "And particularly the hard-core business traveler, they're typically a loyal Marriott or Hilton fan. They travel a lot, so they're going to look for that first."

This will help keep business in Chester County; historically, if there were not Marriott or Hilton properties in the area, travelers would choose accommodations in downtown Philadelphia, rather than staying in its suburbs.

The Chester County hotel market continues to see upward trends; hotels have incrementally grown in occupancy, average daily rate (ADR) and revenue per available room (RevPAR). These are the three important measures that indicate the strength of a market's tourism industry.

http://www.bizjournals.com/philadelp...westlakes.html

[summersm343]

Since the tallest building in Wilmington is 340 feet tall, I would say the city should aim for it's first 400 footer first, before a 500 footer. Maybe a few more 300 footers as well.

[skiesthelimit]

Originally Posted by jonesrmj

I see. I really do want a new skyscraper for our city, and I hope this 510ft. 35 floor giant gets built that I posted about earlier:



But like you, I drive by this site almost every day, and besided the old building that once stood here that was demolished, it's just been a parking lot with a misleading sign. But who knows, this might happen sooner that we think.

Yeah, I'm also under the impression this might be realized sooner than we think. As well as the other buidling on Market x 12th, I believe. And the city could easily be hiding something else from us, as the Ave of Arts building sprouted up out of thin air, still with no official/direct PR about it.

Additionally things are supposedly brewing af Chase with the purchase of the lot across the street, as well as them saying they want to expand their appearance in the city/region.

@summersm343 I mean, we could always pull a middle east, and build a giant supertall!

[3rd&Brown]

Originally Posted by skiesthelimit

Yeah, I'm also under the impression this might be realized sooner than we think. As well as the other buidling on Market x 12th, I believe. And the city could easily be hiding something else from us, as the Ave of Arts building sprouted up out of thin air, still with no official/direct PR about it.

Additionally things are supposedly brewing af Chase with the purchase of the lot across the street, as well as them saying they want to expand their appearance in the city/region.

@summersm343 I mean, we could always pull a middle east, and build a giant supertall!

My parents live in SW Delaware County on the Delaware Border (think Upper Chichester, Bethel, Concord Township area) ie. along Naamans Creek Road hugging the Delaware State Line.

I've gotten into the habit of scanning recent real estate transactions for their and a handful of towns around them and looking up the people who are buying the homes. It's sort of creepy, yeah, but I've always been interested in what drives the economy in the region etc (I do the same thing in NoLibs).

Anyway, point being, there are A LOT of recent real estate transactions in that zone where the buyers work in IT at the various Delaware Banks, and most notably, JP Morgan Chase. It feels to me like they're really amping up their investment and/or relocation to the Delaware offices. Most of the people are mid-career professionals and I get the sense that many of them are relocating from North Jersey and NYC.

So maybe we're about to hear something from one of them.

[Mr Saturn64]

Originally Posted by summersm343

Since the tallest building in Wilmington is 340 feet tall, I would say the city should aim for it's first 400 footer first, before a 500 footer. Maybe a few more 300 footers as well.

It's not always such a gradual increase. Look at the Devon Energy Center in Oklahoma City. That thing's several hundred feet taller than its surroundings. It would be cool for Wilmington to get the 500 footer. It may or may not actually happen, but it would definitely be nice to see Wilmington, and by extension Delaware, get something tall.

[Nomad9]

Originally Posted by Mr Saturn64

It's not always such a gradual increase. Look at the Devon Energy Center in Oklahoma City. That thing's several hundred feet taller than its surroundings. It would be cool for Wilmington to get the 500 footer. It may or may not actually happen, but it would definitely be nice to see Wilmington, and by extension Delaware, get something tall.

I think that was part of the point. The OKC skyline looks out of balance because of Devon Energy Center (IMO), and the same could happen if Wilmington gets something way taller than everything else.

It doesn't mean that ANY big increase would look bad, however--I think 340 to 500 ft. wouldn't necessarily throw off the skyline balance depending on where the building is.

[summersm343]

Proposals for 3 suburban office projects in the works

Three office buildings are being proposed in Philadelphia’s suburbs and they have something in common: they are all modest in their size.

The owners of Spring Mill Corporate Center has plans to create a new standalone 42,000-square-foot office building as part of a $10 million renovation of the complex at 1100 E. Hector St. in Conshohocken; the owners of the Meadows in Wayne are seeking approval for a 3-story, 31,000-square-foot building in Tredyffrin; and along the 400 block of Lancaster Ave. in Radnor, a property owner wants to create a new office complex using three existing structures.

These small projects join a list of larger office buildings that have been proposed in the suburbs but have yet to find tenants – and in turn, have yet to come out of the ground. When it comes to office construction, build-to-suits for new headquarters as well as pricey and extensive renovations on existing buildings have been more common these days. These three projects will test the office market on a much smaller scale.

This isn’t the first time plans were considered to expand at the Meadows, said John Lieberman, who owns the office complex with Bob Kilgore.

“We started to look at it and do some conceptual drawings but then the economy turned,” Lieberman said.

That was years ago and now with the Meadows 95 percent leased and lots of activity in the nearby King of Prussia area, the business partners thought it was a good time to revisit the plans.

The proposed building would be constructed on an existing parking lot. The plans are going through the local approval process and the building would only get built after pre-leasing a substantial amount of the space, Lieberman said. The Meadows now consists of three buildings totaling 100,000 square feet. The properties were originally developed in the early 1980s by Lieberman and Kilgore’s fathers.

At Spring Mill, Kalmon Dolgin Affiliates, a New York real estate investor that owns the property, is embarking on a extensive renovation to the four-building office complex that totals 635,000 square feet and is 94 percent occupied. One part of the plan calls for razing a 120,000-square-foot portion of an existing warehouse to create 320 new parking spaces then convert the remaining 42,000 square feet into an office building. In addition, a 25,000-square-foot former storage area in Spring Mill’s main building will be upgraded into an amenity center that will have a gym, locker rooms and a lounge area. An existing full-service cafe will also be upgraded as will much of the common areas.

In Radnor, the planning commission reviewed preliminary plans to consolidate three parcels at 409, 411 and 413 Lancaster Ave., which are three residential properties owned by and being used for office space by the Emerson Group. The proposal involves tearing down the middle structure and constructing a new building that would connect the other two properties.

http://www.bizjournals.com/philadelp...construct.html

[summersm343]

Garnet firm to employ 40 in shell of Fairless Works

Read more here:
http://www.philly.com/philly/blogs/i...-20170627.html

[EastSideHBG]

Liberty Property Trust selling KoP office park buildings
Updated: JUNE 29, 2017 — 6:54 PM EDT

Liberty Property Trust has put up for sale a portfolio of 14 office and light-industrial buildings at its Renaissance Park corporate center in King of Prussia.

The Malvern-based developer plans to fund future acquisitions and development projects with proceeds from the sale of the buildings, which total 641,000 square feet, spokeswoman Jeanne Leonard said in an email Thursday.

The complex at 3000 Horizon Dr. is about 87 percent leased, with tenants including Athena Neurosciences Inc. and Reed Elsevier Group, according to Jerry Kranzel, who is helping to market the properties as a broker with real estate services firm CBRE.

Liberty has been shedding suburban office buildings in recent years while focusing more on distribution-center properties and projects in central Philadelphia, such as the Comcast Innovation Center now under construction in Center City.

http://www.philly.com/philly/busines...-20170629.html

[Mr Saturn64]

Originally Posted by Nomad9

I think that was part of the point. The OKC skyline looks out of balance because of Devon Energy Center (IMO), and the same could happen if Wilmington gets something way taller than everything else.

It doesn't mean that ANY big increase would look bad, however--I think 340 to 500 ft. wouldn't necessarily throw off the skyline balance depending on where the building is.

The building in the rendering, at 500 feet, would not disrupt Wilmington's skyline at all. The skyline would still be fine with it.

[jonesrmj]

Framework is now 8 floors high. Only two more floors to go!
[IMG]Star Tower (7/3/17) by jonesrmj, on Flickr[/IMG]

[summersm343]

Philadelphia, King Of Prussia Saw Positive Office Trends In Q2

Read more at: https://www.bisnow.com/philadelphia/...e-report-76248

[Urbanthusiat]

Originally Posted by summersm343

Philadelphia, King Of Prussia Saw Positive Office Trends In Q2

Read more at: https://www.bisnow.com/philadelphia/...e-report-76248

From the source:

Philadelphia http://www.ngkf.com/Uploads/FileMana...ice-Market.pdf



South Jersey http://www.ngkf.com/Uploads/FileMana...ice-Market.pdf



Wilmington http://www.ngkf.com/Uploads/FileMana...ice-Market.pdf