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

[Milksteak]

Originally Posted by Justin7

Here is the location: https://www.google.com/maps/@39.9394...7i13312!8i6656

Nice, looks like this is about a mile and a half from American Water. I'm not familiar enough with Camden to know if this is a walk somebody would want to take or not. 1.5 miles is a bit of a trek anyways, so this is probably better suited for hospital workers.

[PhilliesPhan]

Originally Posted by jsbrook

New construction going up in Camden: https://mmdevelopmentllc.com/for-sale-in-camden/ I wonder if these would be good investment properties if they can be rented out to tenants. Condos often aren't. But the HOA here is very low. Could be good to rent for a time and pay down the mortgage, betting on Camden "happening" and then sell down the line when these have appreciated (hopefully).

Something like that would be perfect for recent college grads like myself! I pay slightly less than what the per-month mortgage would be for my 1BR apartment in the Cedar Park section of West Philly. Assuming I could get financing (which I'm sure I could), I'd jump at that. 7th and New isn't that far away from Walter Rand Transportation Center, so I could take PATCO to work. Not only does PATCO run 24/7, but it would cost me less per ride ($1.40 each way) than SEPTA ($2.00 with a SEPTA Key). Finally, with the trajectory that Camden is about to head on, I could make a nice profit when turning around to sell that unit, especially with the excellent financing terms and abatement in place!

[Redddog]

Originally Posted by PhilliesPhan

Something like that would be perfect for recent college grads like myself! I pay slightly less than what the per-month mortgage would be for my 1BR apartment in the Cedar Park section of West Philly. Assuming I could get financing (which I'm sure I could), I'd jump at that. 7th and New isn't that far away from Walter Rand Transportation Center, so I could take PATCO to work. Not only does PATCO run 24/7, but it would cost me less per ride ($1.40 each way) than SEPTA ($2.00 with a SEPTA Key). Finally, with the trajectory that Camden is about to head on, I could make a nice profit when turning around to sell that unit, especially with the excellent financing terms and abatement in place!

Absolutely. Camden is about to go on a tear. Those Schulson restaurants opening up is a great indication for me. That guy has the magic touch and if he's expanding there, I'd say you'd be in pretty good company.

Buy something that needs a bit of work (which is not hard in Camden) and you could set yourself up nicely. We ended up making a bunch of money on our first house - a fixer-upper - and that profit was a springboard real estate-wise.

I know some people over there snatching up properties and flipping or renting them. Seems like a pretty good area for that with the expansion into the north and south of Philly happening so quickly. Camden, like you mentioned, is actually closer and more accessible than North Philly or Greys Ferry.

[jsbrook]

Originally Posted by PhilliesPhan

Something like that would be perfect for recent college grads like myself! I pay slightly less than what the per-month mortgage would be for my 1BR apartment in the Cedar Park section of West Philly. Assuming I could get financing (which I'm sure I could), I'd jump at that. 7th and New isn't that far away from Walter Rand Transportation Center, so I could take PATCO to work. Not only does PATCO run 24/7, but it would cost me less per ride ($1.40 each way) than SEPTA ($2.00 with a SEPTA Key). Finally, with the trajectory that Camden is about to head on, I could make a nice profit when turning around to sell that unit, especially with the excellent financing terms and abatement in place!

Definitely. Look into it!

[jsbrook]

Originally Posted by Milksteak

Nice, looks like this is about a mile and a half from American Water. I'm not familiar enough with Camden to know if this is a walk somebody would want to take or not. 1.5 miles is a bit of a trek anyways, so this is probably better suited for hospital workers.

Yeah. There might be transit riverfront workers could take too, though. Thanks for the link, Justin7.

[Parkway]

Originally Posted by PhilliesPhan

Something like that would be perfect for recent college grads like myself! I pay slightly less than what the per-month mortgage would be for my 1BR apartment in the Cedar Park section of West Philly. Assuming I could get financing (which I'm sure I could), I'd jump at that. 7th and New isn't that far away from Walter Rand Transportation Center, so I could take PATCO to work. Not only does PATCO run 24/7, but it would cost me less per ride ($1.40 each way) than SEPTA ($2.00 with a SEPTA Key). Finally, with the trajectory that Camden is about to head on, I could make a nice profit when turning around to sell that unit, especially with the excellent financing terms and abatement in place!

As someone who lived in Camden from summer 2015 to summer 2017. I'll give you some of my experience. Most of your shopping, including basic needs will have to be done in Center City. There is no grocery store and even the drug stores and many corner stores are closed by 7. It is still very much a place that rolls up the sidewalks at 5. I am a 6 foot tall man and I went to Temple so it was definitely not my first rodeo but I would often feel uncomfortable walking home at night because the streets were so deserted. Also, Walter Rand is a whole experience unto itself, I just made a habit of avoiding it entirely whenever I could.

That being said, hopefully the new development on the water front brings in more people and people start to stick around after dark.

[Urbanthusiat]

A developer is still pursuing a 204 unit apartment building at 3rd and Walnut in Lansdale. Interesting that they want automated parking here, those are very expensive systems.

http://www.montgomerynews.com/news/r...9e9625e48.html

[iheartphilly]

Proposal to Redevelop Office Building Adjacent to the Plymouth Meeting Mall as Elderly Housing/Assisted Living Facility

https://morethanthecurve.com/proposa...ving-facility/

Is this a first?

[Milksteak]

Originally Posted by iheartphilly

Proposal to Redevelop Office Building Adjacent to the Plymouth Meeting Mall as Elderly Housing/Assisted Living Facility

https://morethanthecurve.com/proposa...ving-facility/

Is this a first?

There was a proposal a few years ago to turn this building into 'The Workplace of Tomorrow':

https://philly.curbed.com/2015/12/1/...ffice-redesign

https://www.loopnet.com/Listing/502-...ng-PA/7170032/

I thought it had a lot of promise given it's location and the fact that the Plymouth Meeting Mall seems to be doing a pretty good job at transforming itself (especially after landing Whole Foods). This news is kind of a bummer.

[mcgrath618]

I have heard *whispers* of a possible tower development in the KOP mall over where one of the anchors were. Anyone else know anything more about this?

[El Duderino]

Originally Posted by mcgrath618

I have heard *whispers* of a possible tower development in the KOP mall over where one of the anchors were. Anyone else know anything more about this?

David Simon told me he wanted a suburban Hudson Yards. Is it go time?

[Urbanthusiat]

Originally Posted by El Duderino

David Simon told me he wanted a suburban Hudson Yards. Is it go time?

I wouldn't bet on anything happening until this state transit funding lawsuit is decided. Unless we can fund expansion, "suburban Hudson Yards" isn't gonna happen anytime soon. I very much hope the courts rule in the state's favor.

[iheartphilly]

Originally Posted by Milksteak

There was a proposal a few years ago to turn this building into 'The Workplace of Tomorrow':

https://philly.curbed.com/2015/12/1/...ffice-redesign

https://www.loopnet.com/Listing/502-...ng-PA/7170032/

I thought it had a lot of promise given it's location and the fact that the Plymouth Meeting Mall seems to be doing a pretty good job at transforming itself (especially after landing Whole Foods). This news is kind of a bummer.

Agreed. Could of been a quasi surban mixed- use with the office component. And the transformation of the look of the building was nice. Maybe throw in a new hotel too. Unfortuantely, can't say I'm excited at all for current senior living project. Oh well.

[summersm343]

Philly developer Bart Blatstein gets early approval for new casino building near Showboat in Atlantic City

https://www.philly.com/news/showboat...-20190318.html

[Urbanthusiat]

Ex-NFL receiver, Amboy Bank ink $51 million loan for Bordentown development

OLD BRIDGE, NJ—Amboy Bank and K Johnson Enterprises, a real estate and business development company founded and led by former NFL player Kevin Johnson, have closed on a sequence of construction loans totaling $51 million for the development and construction of more than 400,000 square feet of retail and medical office space as part of Johnson’s existing Team Campus development in Bordentown, NJ.

https://www.globest.com/2019/03/18/a...ned-developer/



Site: https://www.google.com/maps/@40.1593...7i13312!8i6656

[Knight Hospitaller]

Originally Posted by summersm343

Philly developer Bart Blatstein gets early approval for new casino building near Showboat in Atlantic City

https://www.philly.com/news/showboat...-20190318.html

Hopefully that will keep him distracted from gas stations, convenience stores, and sky villages closer to home.

[mcgrath618]

Originally Posted by Knight Hospitaller

Hopefully that will keep him distracted from gas stations, convenience stores, and sky villages closer to home.

Am I really the only one on here who wants 1001 S Broad to be built? I don't like the sky village concept but I really like the density in an area that otherwise has none.

[jsbrook]

Originally Posted by mcgrath618

Am I really the only one on here who wants 1001 S Broad to be built? I don't like the sky village concept but I really like the density in an area that otherwise has none.

They just built a large project across the street. And Washington Avenue is filling in all over. I'm fine waiting for something decent here.

[Parkway]

Originally Posted by jsbrook

They just built a large project across the street. And Washington Avenue is filling in all over. I'm fine waiting for something decent here.

I just want them to restore Juniper and eliminate the super-block.

[jsbrook]

Originally Posted by Parkway

I just want them to restore Juniper and eliminate the super-block.