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  #461  
Old Posted Aug 17, 2017, 2:24 PM
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Apartment developers try to create hotel experience for tenants

https://www.bizjournals.com/philadel...ess+Journal%29

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Renters have started moving into Goldenberg Group’s newly constructed apartment building at 1213 Walnut St. in Philadelphia -— the company’s first large-scale apartment tower in the city.

The Blue Bell developer isn’t foreign to multifamily development — it has completed and is underway with student housing projects near Temple University — but 1213 Walnut is its first attempt to capture where apartment living is headed these days. Seth Shapiro, chief operating officer at Goldenberg, believes it looks a lot like a hotel and 1213 Walnut was designed with this in mind.

“It’s like a W Hotel on steroids,” Shapiro said of the apartment building, which Goldenberg is developing in partnership with Hines of Houston and ASB Real Estate Investments, a division of ASB Capital Management of Washington, D.C. The 26-story building has 322 apartments and has risen on what was a surface parking lot.

In trying to capture that hotel experience, even the positioning of 1213 Walnut was given a lot of thought from the outset. The front door is not on Walnut Street but around the corner along an alley where a porte cochère greets residents. The lobby has a front desk akin to a check-in area and a 24-hour concierge on duty along with a gas fireplace and comfortable seating. While that sets the tone, the second floor’s 11,000 square feet is dedicated to a range of amenities including televisions, game rooms, an outdoor patio, catering kitchen, private alcoves in lieu of a business center and a dog walk.

Much like a hotel, there will be dining nearby. A 5,000-square-foot restaurant will line ground-level space fronting Walnut Street and another 1,200 square feet of retail space that will likely be a café, will be on Sansom Street.

Goldenberg Group isn’t the only one taking this tack. Hotel-level amenities have increasingly been creeping into new multifamily projects as developers try to create a lifestyle for their renters. For example, Bridge on Race, which has 146 apartments, has a 24-hour concierge, a co-working lounge, an 8,000-square-foot outdoor terrace and what has been described as private barbecue “dining rooms.” Retail space is occupied a café, sushi restaurant and salon. At AKA University City, which has hotel and apartment components, Korman Communities has a 25,000-square-foot space called Level 28 that it described as a “luxury club” that has a pool and golf simulator, among other features.

By providing a hotel experience, 1213 Walnut is seeking to differentiate itself amid an ever competitive marketplace.The main way this can be achieved is through extensive amenities, and subtle and obvious design elements such as positioning the entrance around the corner and not on a main thoroughfare.

Two other modern-day characteristics are also influencing how developers approach projects. The distinction between work and home life has blurred, while some hotel amenities a business traveler has grown accustomed to are welcome at home. Developers have been incorporating more areas and rooms that would more likely be found in a co-working environment where there are spaces where people can be alone or with a group.

They are finding that they need to deploy something different to stand apart from the competition and attract and retain renters in a market where new apartments continue to be added and tenants have lots of choices. At this point, the overall health of Philadelphia’s multifamily market, particularly for Class A, high-rise projects, continues to see a steady stream of new apartments come online.

The overall vacancy rate stands at a staggering 12.8 percent, according to Delta Associates second quarter report. While that is steep and a worrisome number on its own, it includes projects that are under development as well as those being actively marketed to prospective renters, said Shaunta Bruner, senior associate at Delta who oversaw the research for the report. To that end, it doesn’t mean units are just sitting empty — at this point. A year ago, the overall vacancy rate was 6 percent. It has doubled as more projects broke ground or were completed during that period.

A better number to judge the market, Bruner said, is the vacancy rate that excludes projects that are in a lease up phase and focuses on those that have already been stabilized, or occupied by renters, and that figure is 2.9 percent. A year ago, it was 3 percent. Rents have also seen increases though the pace of growth is slower. Rental rates were up just 1 percent on high-rise, Class A apartments compared with this time last year and average $2,308, or $2.54 a square foot, according to Delta data. Over the last 12 months, 1,437 units have been absorbed.

A total of 4,144 new apartments are under construction or expected to be completed over the next 36 months. Projects that are still in the process of being leased include the Griffin, AKA University City, Dalian on the Park, the Divine Lorraine, the Bridge on Race and Vue 32.
     
     
  #462  
Old Posted Aug 29, 2017, 11:05 PM
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8/29/2017









     
     
  #463  
Old Posted Sep 29, 2017, 1:58 AM
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9/28/2017

This one is almost complete. They're putting the finishing touches on.





















     
     
  #464  
Old Posted Sep 29, 2017, 12:22 PM
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wow that decorative trim on the front wasn't even there when I walked by within last 2 weeks. Definitely makes it look better. What you get at street level here is major upgrade over a parking lot- I hope they get some decent tenants on first floor. The overall design of this building is pretty bland, but it has a lot of interesting details when you pay closer attention.
     
     
  #465  
Old Posted Sep 29, 2017, 12:55 PM
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The retail/restaurant space looks amazing with that 2nd floor deck. Hope they have a good tenant lined up
     
     
  #466  
Old Posted Sep 29, 2017, 1:58 PM
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This building is a decent. I like the ground floor and the orange-mesh like decorative piece against the black glass - looks very modern and upscale.

On the tower, the all-black portion looks awesome. Unfortunately, the black glass against beige paneling portions just drag the rest of this building down. That part of the building is actually very similar to 5 Penn Center (1601 Market), an office building built in 1970 - not exactly something a modern residential structure should emulate.

Go ahead and cover up the paneled side of the building with your hand in one of Summer's pics above and imagine how awesome this building would be if the entire facade was black and had those big factory-like windows all around. If that's how it looked, this would be an easy 4/5. But as it is, I give it a 3/5. Overall, a decent design but could have been much better.
     
     
  #467  
Old Posted Sep 29, 2017, 2:03 PM
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I love this building. I love the passage. Very Philly.
     
     
  #468  
Old Posted Sep 30, 2017, 1:42 AM
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I am not a fan of that orange Swiss cheese cladding. Maybe it will grow on me but for now it looks like the temporary orange plastic fencing.

     
     
  #469  
Old Posted Sep 30, 2017, 1:46 PM
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At first, I thought it was a protective film covering the finish.
     
     
  #470  
Old Posted Oct 2, 2017, 7:19 PM
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Originally Posted by eixample View Post
I am not a fan of that orange Swiss cheese cladding. Maybe it will grow on me but for now it looks like the temporary orange plastic fencing.
It's actually not bad in person. From a pedestrian standpoint - with the exception of the blank-ish west facade - this turned out to be a decent looking building. I kind of like the cavernous, enclosed driveway. The residential gym juts out in a glass box - almost floating over the interior road. There are just some angles, and quirks, and colors and textures that were really interesting to me. Not sure how this will age, but to me, experiencing it in person, this thing felt like a value-added modern project.
     
     
  #471  
Old Posted Oct 3, 2017, 11:30 PM
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I liked the base so much it was a little disappointing to see so much bric-a-brac. But I still like it very much.

The wall in the middle of the passage would look great doubling as a green wall. Maybe it will be.
     
     
  #472  
Old Posted Oct 4, 2017, 11:54 AM
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I like the orange. The beige facade and white horizontal striping is what hurts this building. Looks like they slammed together two buildings from different decades. Base and darker facade side look great.
     
     
  #473  
Old Posted Oct 8, 2017, 1:10 PM
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Love the base of the building and the walk-thru -- very modern, looks Euro.



     
     
  #474  
Old Posted Oct 8, 2017, 2:39 PM
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Originally Posted by Londonee View Post
It's actually not bad in person. From a pedestrian standpoint - with the exception of the blank-ish west facade - this turned out to be a decent looking building. I kind of like the cavernous, enclosed driveway. The residential gym juts out in a glass box - almost floating over the interior road. There are just some angles, and quirks, and colors and textures that were really interesting to me. Not sure how this will age, but to me, experiencing it in person, this thing felt like a value-added modern project.
I really like this building. Sure, could it be improved (blank wall)? Yes.

But by and large it feels well designed and thoughtfully executed. Certainly better than 85% of the other new buildings being built in the city.
     
     
  #475  
Old Posted Oct 8, 2017, 4:08 PM
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Originally Posted by TallCoolOne View Post
Love the base of the building and the walk-thru -- very modern, looks Euro.
Agreed. And I think the design of the entire building also reflects the strong influence of modern Japanese architecture:







     
     
  #476  
Old Posted Oct 9, 2017, 12:39 AM
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this is one of the few passthroughs that actually feels inviting when you walk by. this building really nails it on so many levels.
     
     
  #477  
Old Posted Oct 9, 2017, 8:02 PM
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This building adds so much density to the Gayborhood/Washington Square West area! This can really be observed while walking along 13th Street:

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  #478  
Old Posted Oct 11, 2017, 4:55 PM
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Update from Building Philly



https://www.facebook.com/BuildingPhilly/
     
     
  #479  
Old Posted Oct 30, 2017, 3:54 PM
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10/27/2017 - COMPLETE































     
     
  #480  
Old Posted Oct 30, 2017, 3:57 PM
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This project is complete, and the thread will be moved to the Completed Projects Archive shortly.
     
     
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