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Old Posted Oct 12, 2007, 3:49 PM
CondoGuru CondoGuru is offline
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Again, approvals have nothing to do with whether or not a building will emerge. They need FINANCING. This will not happen unless they sell at least 30% of the units...hard deposits, NOT reservations. Mandeville Place is approved, no building, 1706 Rittenhouse is approved, still no building. This article, however, does shed a little bit of light on a more realistic timeframe. The developer has now stated in the article that a groundbreaking would take place in June 2008, not this November. This is actually quite plausible considering they need to sell roughly 100 units by then. They don't have condo docs or agreements in place for another 3 months according to their own sales agents. November is not even remotely a possibility. But next June certainly is. If they can't hit this target by then, there is no chance of this thing getting off the ground. So if you like this project, go BUY ONE!!!!
Old Posted Oct 25, 2007, 12:24 AM
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Any news? Is there a timeframe for ground breaking, how many units are sold?
Old Posted Oct 25, 2007, 3:02 AM
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Buildings can't talk.
Old Posted Oct 25, 2007, 1:03 PM
skyscraper skyscraper is online now
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Originally Posted by TheMeltyMan View Post
Buildings can't talk.
is that a disappointment? were you expecting them to?
"Difficult times produce strong people. Strong people produce good times. Good times produce weak people. Weak people produce difficult times."
Old Posted Oct 25, 2007, 11:30 PM
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To answer my own question It sounds like construction is to begin in june.
Old Posted Oct 26, 2007, 3:12 PM
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Did anyone happen to attend Parkway 22's Renoir preview event at the Art Museum? It was a very stylish event with almost no mention of the project whatsoever. I was stunned. Ed Rendell must certainly have some kind of financial interest in this much like he did at Waterfront Square. Plenty of speeches and political posturing, but nothing about the building, its design, viability, sales, etc... I did enjoy the art and drinks however. Thanks guys!
Old Posted Nov 21, 2007, 11:33 PM
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I believe there will be an open house for this building at the sales center the first two weekends in DEC.

Just in case anybody is interested.
Old Posted Nov 28, 2007, 10:22 PM
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I walked by the site over the weekend and the best western still looked open any time frame for Demo?
By the way check out the cool interactive rendering http://www.parkway22.com/
Old Posted Dec 17, 2007, 5:44 PM
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Pricing for Parkway 22 is from $369,999 to 5.3 million.

Click here for more details.
Old Posted Dec 18, 2007, 12:57 AM
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SJPhillyBoy SJPhillyBoy is offline
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Wow...3 bedroom, Units 3502 3145 sq. ft. Starting at $5,300,000.
Old Posted Jan 7, 2008, 3:08 PM
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Her towering compromise

It started out looking like another Phila. development debacle, but Dalia Shuster found a way.

By Joseph A. Slobodzian
Inquirer Staff Writer

Sometime in June construction crews will break ground for Parkway22, a 35-story condominium complex behind the Rodin Museum that will recast the vista between the Art Museum and City Hall.
When plans for the luxury condo tower first became public two years ago, few people would have bet it would become reality.

Not Dalia Shuster.

"I'm very proud of the way we conducted this. We lost nothing," said Shuster, 50, CEO of her own international real estate development company, Naveh-Shuster.

Shuster describes the story of Parkway22 as an example of the patience and strategy needed by developers. It's a description that belies the toughness developed as a captain and commander of an otherwise all-male medical unit in the Israeli Army, and from 30 years in the male-dominated construction industry - the last decade as a widowed mother of three running an international company with interests in Israel, Eastern Europe and the United States.

Nor was the Parkway22 tale as simple as Shuster describes it.

Shuster overcame strong, early opposition from Spring Garden neighbors, including powerful Democratic state Sen. Vincent J. Fumo.

She weathered several contentious hearings before the city Zoning Board of Adjustment to obtain permits to develop a property her lawyers insisted she had an unquestionable right to build on under current zoning.

And she spent another year - and a half-million dollars - so her architects could modify the tower's plans after consulting with a local architects living in Spring Garden.

The result was a tower 12 stories shorter than originally proposed, along with a mix of lofts and a row of Victorian-style townhouses on Spring Garden Street - and community acceptance instead of time-consuming litigation.

"She really surprised me very, very much," said Joseph Beller, a lawyer who has specialized in zoning for more than four decades.

Hired by Spring Garden civic groups and residents to challenge Shuster's plans, Beller ended up joining Shuster's attorney, Neil Sklaroff, to present city officials with a "global settlement" of the dispute.

Beller said he was surprised when Shuster suggested that he, Sklaroff and architects for both sides meet and come up with a compromise.

"I've been doing this for more than 40 years and I can tell you that not many developers would be able to step back and let the professionals handle it," Beller said. "She is a strong woman and it takes a strong person to stop, put the car in reverse and decide to take a new route."

Shuster jokes about her decision to step away from the Spring Garden talks.

"Lawyers, please be to God, keep me far from them," she laughed in accented English.

Shuster said that at that first community meeting in March 2006, she put aside the anger being directed toward her development team and listened to what was being said.

"I said to myself, 'Dalia, this is only a political issue. There's no other reason to object to this project.' What looks better, an old hotel or new development that much enhanced the site?"

If Beller was surprised by Shuster's methodical, "laid-back" attitude, it seems very much part of the approach of a very long-term investor.

Consider the Best Western Motel property - site of the Parkway22 complex - which Shuster bought for $2.75 million in October 1993, long before the Center City Renaissance and almost four years before the real estate-tax abatement program for new construction that helped spark Philadelphia's building boom.

"When we purchased this hotel, not many people, investors, believed in Philadelphia," said Shuster, in a recent interview at the Parkway22 sales office carved out of the motel property. "No tax abatement, no bonuses. We come with our vision and our belief. . . . We bring ourselves, we invest our money."

Shuster says she and her late husband, Zvi, bought the motel always intending to develop it as a condo tower - even if they had to wait for Philadelphia and the real estate market to catch up.

In the meantime, Shuster said, she invested $1.6 million to upgrade the property and make it an income-generator.

It's a strategy Shuster has practiced elsewhere.

With her family in construction, Shuster said she and her husband - he died in 1998 - founded their own real estate development firm 30 years ago in Tel Aviv.

After 10 years, she said, they decided to try investing abroad, focusing on the United States.

"We believed in the United States economy . . . and we have a lot of respect for the American support of the Israelis. So our first thought was to invest in a friendly country," Shuster explained.

They began their quest in 1988 more like a young couple looking for their first house than international investors: They rented a car, started driving and made notes on properties that interested them.

But the Shusters didn't buy a thing until 1993.

"Some American people started to laugh: 'You just spend your time and you don't pick nothing,' " Shuster recalled.

But in 1993 the years of research paid off and the Shusters bought properties in New York, New Jersey, Connecticut and Philadelphia.

Philadelphia, she said, seemed like a natural place to invest because of its links to U.S. history and location midway between New York and Washington.

Among the Philadelphia purchases: the Best Western motel; a 160-unit apartment complex, Townhomes of Regency Place on Woodhaven Road in the Northeast; and an old clothing factory at 1238 Callowhill St.

In the late '90s the factory was converted into 64 condos and renamed the Beaux Arts Lofts, then the first residential growth in years in the old industrial zone east of Broad Street between Spring Garden and Vine.

"In that time nobody believed, or even knew what the loft look was," Shuster added. "But it was very great project and very profitable."

Shuster has three grown children: a 27-year old daughter who is a lawyer, a daughter, 25, and a son, 23, who are both in school. All three are likely to follow her into the business in some way.

Since Zvi's death, Shuster's firm, by all accounts, has prospered, developing luxury condominiums and nursing homes in Israel and Eastern Europe.

Shuster said she credits much of her leadership skills to the two years she spent in the Israeli Army in the mid-1960s, when she was a captain in an otherwise all-male medical unit.

The experience, she said, cultivated a sense of adventure and risk-taking that coalesced on her first visit to New York in 1988, when she went to Nike's flagship store.

"It was a very nice advertising film. And in the end, with all the high-volume music around, was 'Just do it!' "

"I will never forget this moment in my life," Shuster said. "I said, 'Dalia, if you believe, just do it.' "

Old Posted Jan 8, 2008, 4:36 PM
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Let's hope, come June, the construction stays on schedule and this building actually does get built. Also, is the 2nd tower (187 feet) going to be built as well? The article just mentioned the taller tower.
"I'd like to die peacefully in my sleep like my grandfather....not screaming in terror like the passengers on his bus."
Old Posted Jan 28, 2008, 10:07 PM
tua21506 tua21506 is offline
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sales office

just a picture of the sales office. [IMG][/IMG][IMG][/IMG]
I shot this today

Last edited by tua21506; Jan 28, 2008 at 10:22 PM.
Old Posted Mar 16, 2008, 10:49 PM
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Ninjawho Ninjawho is offline
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Brad, (phillyskyline.com), is reporting that demolition is going to start on 22nd and Spring Garden sometime this week...so its a moving forward...
Old Posted Mar 16, 2008, 11:20 PM
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Wow !!!! Philly is blowing up!!!!!
"Texas is a state of mind. Texas is an obsession. Above all, Texas is a nation in every sense of the word." - John Steinbeck
Old Posted Mar 16, 2008, 11:44 PM
Pennsgrant Pennsgrant is offline
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This tower would have been 10 stories higher if Fumos ticker acted up 2 years earlier.
Old Posted Mar 31, 2008, 9:23 PM
tua21506 tua21506 is offline
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Demo Time?????

From today....maybe its demo time?????

Old Posted Mar 31, 2008, 9:44 PM
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Old Posted Mar 31, 2008, 9:47 PM
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This is a really cool one. I like how it's situated on its lot. Does this look over the freeway?
Old Posted Mar 31, 2008, 9:49 PM
Johnland Johnland is offline
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Originally Posted by tua21506 View Post
From today....maybe its demo time?????

Man, it is sooo demo time for that thing!! Even if they never build the highrise, just eradicate that eyesore. I never realized just how awful the motel really is.

And on a lighter note....doesn't that 'emblem' of Ben Franklin stuck on the brick wall look hilarious. It's as if they pulled motel construction plan D-12 off the shelf, and then said, oh wait, this particular unit will be developed in Philadelphia, grab gew-gaw L-31 and stick it on the side. You gotta wonder what people are thinking. Like, whoever decided the on the red plastic mansard roof stick-on for 7-11's?
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