PHILADELPHIA | The Development Thread VIII - Page 201

summersm343 · #**4001** Posted: **Dec 19, 2011, 5:51 PM**

Shots of South Street Bridge... Images from PlanPhilly.

http://planphilly.com/news/notebook/...-bridge-lights

UCityGardener · #**4002** Posted: **Dec 19, 2011, 9:15 PM**

Two early Christmas presents: The south street bridge lighting and the Brandywine deal which may become the gift that keeps on giving. Thanks for brightening this dreary December afternoon.

summersm343 · #**4003** Posted: **Dec 19, 2011, 9:25 PM**

The work going on at CHOP is for their new Ambulatory Care Center... however no height, renders or any information at all for that matter has been released for it.

All I could find out is that the structure will be built on top of a 5 story underground parking structure

bryson662001 · #**4004** Posted: **Dec 19, 2011, 9:32 PM**

Quote:

Originally Posted by McBane

Market East
Good news here. Food writer Michael Klein has reported that a mega Italian restaurant/retail store (I imagine sort of like DiBrunos) is coming to the bottom floor of the Strawbridges building. http://www.philly.com/philly/blogs/t...to-Philly.html This is a small, but positive step in the right direction.

This is a rumor that has been floating around but it is almost Inconceivable that it would come here and particularly to market east. It is said to be a branch of Eataly, the 1st one outside of Manhattan and the 2nd one in the U.S. Lidia Bastianich, host of PBS's Lydia's Italy and restaurant tycoon, is one of the founders. It is supposed to be like The Reading terminal market except everything's from Italy or Italian. If it were true it would undoubtedly draw an upscale crowd from the suburbs and everywhere else in numbers that would absolutely challenge the regular Market east crowd for dominance. It would have more impact on market east then a Disney quest, a casino, a movie theater, a department store or any other attraction. It would be the biggest thing to hit center city since the convention center. It would be Philly hitting the lottery...... the big lottery. If it were true.

http://ny.eater.com/archives/2010/08...use-eataly.php

teeheee · #**4005** Posted: **Dec 19, 2011, 11:43 PM**

Quote:

Originally Posted by Insoluble

And a bonus photo of the nearly complete Waka Flocka Flame Center down the street.

I don't know why, but I lol'd.

jrdizzy · #**4006** Posted: **Dec 20, 2011, 3:26 AM**

I don't know if anyone has mentioned this before. There is a crane at the family court site. We may see several more in the next few months.

summersm343 · #**4007** Posted: **Dec 20, 2011, 4:49 AM**

Quote:

Originally Posted by jrdizzy

I don't know if anyone has mentioned this before. There is a crane at the family court site. We may see several more in the next few months.

Awesome

Thanks for the update

Cro Burnham · #**4008** Posted: **Dec 20, 2011, 8:06 AM**

Quote:

Originally Posted by teeheee

I don't know why, but I lol'd.

Listen punk, I've had enough of you and your damn straw men!

omp835 · #**4009** Posted: **Dec 20, 2011, 12:26 PM**

Quote:

Originally Posted by bryson662001

This is a rumor that has been floating around but it is almost Inconceivable that it would come here and particularly to market east. It is said to be a branch of Eataly, the 1st one outside of Manhattan and the 2nd one in the U.S. Lidia Bastianich, host of PBS's Lydia's Italy and restaurant tycoon, is one of the founders. It is supposed to be like The Reading terminal market except everything's from Italy or Italian. If it were true it would undoubtedly draw an upscale crowd from the suburbs and everywhere else in numbers that would absolutely challenge the regular Market east crowd for dominance. It would have more impact on market east then a Disney quest, a casino, a movie theater, a department store or any other attraction. It would be the biggest thing to hit center city since the convention center. It would be Philly hitting the lottery...... the big lottery. If it were true.

http://ny.eater.com/archives/2010/08...use-eataly.php

Well with the Inquirer and Daily News moving to the upper floors, and now with this really strong concept for the first floor, I would think that the old Strawbridge buillding in more than 60% leased with class-a tenents. That's good enough to the open the doors. Unless I'm missing something this is

news.

thenbagis · #**4010** Posted: **Dec 20, 2011, 12:27 PM**

Quote:

Originally Posted by hammersklavier

I also noticed Brandywine moved to get financing in place to build Cira South's residential component right about when I pointed out residential construction is going like gangbusters in this part of the city, haha.

I hate to be a "pessimist" or a "downer".... but...

Does anyone think we may be trading a condo bubble for a rental bubble?

Look at all the apartment projects on tap right now:
- 2116 Chestnut St
- 2017 Chestnut St
- 1919 Market St
- Cira Centre South?
- The warehouses across from Sugar House (anyone know the status on this?)
- AAA building
- 19th and Arch
- Others I'm forgetting off hand?

Plus, there's a glut of condo's that people are struggling to sell and are now renting.

Don't get me wrong... development is good, but I'd like to see some more balance? Definitely more offices... we need jobs to support all these folks paying rent, otherwise, we're back in the same boat we were in in 2008.

omp835 · #**4011** Posted: **Dec 20, 2011, 12:34 PM**

Lol! I was just reading the link that bryson posted. One section read: " Everything for everyone! The only thing that's missing is pony rides. In Vegas there'd be a roller coaster involved." Omg, if they had a roller coaster, I would be puking up my pasta. Not to mention that ponies are unhygienic. Some marketing is just ridiculous.

pwp · #**4012** Posted: **Dec 20, 2011, 1:41 PM**

Quote:

Originally Posted by omp835

Well with the Inquirer and Daily News moving to the upper floors, and now with this really strong concept for the first floor, I would think that the old Strawbridge buillding in more than 60% leased with class-a tenents. That's good enough to the open the doors. Unless I'm missing something this is

news.

If you go back to the link, the story has been since updated. The author claims that he was incorrect and it's a concept similar to Eataly. Apparently that chain is seeking a location in DC. Sigh. Snubbed again.

Although I shouldn't complain, should be a cool concept regardless, if it comes to fruition.

Insoluble · #**4013** Posted: **Dec 20, 2011, 2:15 PM**

Quote:

Originally Posted by teeheee

I don't know why, but I lol'd.

Credit to Aaamazarite for coming up with that one. Did I mention that Philaphilia is the best blog ever

Quote:

Originally Posted by jrdizzy

I don't know if anyone has mentioned this before. There is a crane at the family court site. We may see several more in the next few months.

Funny, I just went by there this morning. That hole is deep too!

Also, since it's just down the street, a picture of the hole for the new parking garage on the 1300 block of Arch. it's less impressive, but coming along.

They have a newer? rendering posted on a banner at the site. It looks like they value engineered the accordion folds to be nonrandom.

All pictures are mine from this morning. Sorry about the small image size, anyone know how to change that?

Jelly Roll · #**4014** Posted: **Dec 20, 2011, 2:20 PM**

Quote:

Originally Posted by thenbagis

I hate to be a "pessimist" or a "downer".... but...

Does anyone think we may be trading a condo bubble for a rental bubble?

Look at all the apartment projects on tap right now:
- 2116 Chestnut St
- 2017 Chestnut St
- 1919 Market St
- Cira Centre South?
- The warehouses across from Sugar House (anyone know the status on this?)
- AAA building
- 19th and Arch
- Others I'm forgetting off hand?

Plus, there's a glut of condo's that people are struggling to sell and are now renting.

Don't get me wrong... development is good, but I'd like to see some more balance? Definitely more offices... we need jobs to support all these folks paying rent, otherwise, we're back in the same boat we were in in 2008.

I disagree as I think the condo market and the rental market are very different demographics but I will agree that if the rental rates on these units are in the $2,500+ a month range then I think they have a hard time filling these as the a lot of the condo's that were built are currently being rented out in that range.

bryson662001 · #**4015** Posted: **Dec 20, 2011, 2:46 PM**

Quote:

Originally Posted by thenbagis

I hate to be a "pessimist" or a "downer".... but...

Does anyone think we may be trading a condo bubble for a rental bubble?

It's more like a race. The one's who drag their feet and come late to the table will just have to cancel their projects.

.......and I knew Eataly was too good to be true.

hammersklavier · #**4016** Posted: **Dec 20, 2011, 3:47 PM**

Quote:

Originally Posted by thenbagis

I hate to be a "pessimist" or a "downer".... but...

Does anyone think we may be trading a condo bubble for a rental bubble?

Depends on the per-unit price. In any event, though, our rental stock is so underdeveloped it will take quite some time before a major bubble starts...

Pennsgrant · #**4017** Posted: **Dec 20, 2011, 4:02 PM**

Quote:

Originally Posted by Insoluble

Credit to Aaamazarite for coming up with that one. Did I mention that Philaphilia is the best blog ever

Funny, I just went by there this morning. That hole is deep too!

Also, since it's just down the street, a picture of the hole for the new parking garage on the 1300 block of Arch. it's less impressive, but coming along.

They have a newer? rendering posted on a banner at the site. It looks like they value engineered the accordion folds to be nonrandom.

All pictures are mine from this morning. Sorry about the small image size, anyone know how to change that?

Flickr??? Try right click> Properties> copy &paste>erase the m(medium) or change the m(medium) to a b(big).

bryson662001 · #**4018** Posted: **Dec 20, 2011, 4:02 PM**

For anyone who is interested, I put together this map of existing residential (red) and coming residential (pink) in the vicinity of 20th and Market where the empty IBX lot is (the X). I have only included large residential buildings, a few of which contain 500 or more apartments. They are a combination of rentals, condos and co-ops. Other then surrounding Rittenhouse Square itself, this may already be the densest residential neighborhood in Center City. I made one mistake...... the red building at 20th and arch should be at 19th and arch.

summersm343 · #**4019** Posted: **Dec 20, 2011, 4:20 PM**

^^Quite interesting. I wouldn't be worrying about office space right now... when the current office space is filled and demand calls for more, it will be built. Let's take it one step at a time with some residential development!

thenbagis · #**4020** Posted: **Dec 20, 2011, 4:22 PM**

nice map, Bryson... Thanks!

You should do a map of varying shades based on density: residential (green), commercial (blue) and industrial (yellow)... ;-)

(yes, I just went there...)