PHILADELPHIA | The Development Thread VIII - Page 275

Jelly Roll · #**5481** Posted: **Jun 11, 2012, 1:31 PM**

Quote:

Originally Posted by volguus zildrohar

How recent was this? Did I miss this update from before?

Bell Atlantic Tower rebranded 'Three Logan Square'

When Brandwine bought the building they changed the name. It was in the 3rd quarter of 2010. Atleast that is when it started showing up in broker reports under that name instead of Bell Atlantic Tower.

hammersklavier · #**5482** Posted: **Jun 11, 2012, 3:34 PM**

Quote:

Originally Posted by Pennsgrant

http://www.philly.com/philly/news/pe...ice_tower.html

Yeager said financing for the whole project would be in place at the onset. Construction could begin as early as the end of this year and last for 18 to 24 months.

370 feet according to the diagram on HiddenCity. That would be the tallest building in University City I believe. In comparison the Harnwell dorms are 300'.

I'm not in love with the idea, but that doesn't mean I don't think it should be pursued.

BTW you know what would be awesome? If the Roman Catholic Church decided to do this kind of redevelopment on its garishly large parking lot on Logan Square. Keep dreaming, I know...

summersm343 · #**5483** Posted: **Jun 11, 2012, 4:12 PM**

Some articles from Hidden City and a possible light rail incorporated into the Viaduct.

http://hiddencityphila.org/2012/06/w...ed-transitway/

http://hiddencityphila.org/2012/06/w...as-light-rail/

Also an article of the Episcopal Cathedral's 25 story tower proposal
http://hiddencityphila.org/2012/06/the-next-question/

riccardo426 · #**5484** Posted: **Jun 11, 2012, 8:14 PM**

http://www.philly.com/philly/blogs/i...ef=twitter.com

Can't wait for some renders. I hope they look good.

Aside from this AVI stuff, which I'd love to hear about from the contributors here, I am feeling really good about the state of things in the short term. Keep building!

Jelly Roll · #**5485** Posted: **Jun 11, 2012, 8:55 PM**

Quote:

Originally Posted by riccardo426

http://www.philly.com/philly/blogs/i...ef=twitter.com

Can't wait for some renders. I hope they look good.

Aside from this AVI stuff, which I'd love to hear about from the contributors here, I am feeling really good about the state of things in the short term. Keep building!

I support having market value assessments. It makes perfect sense to me that you pay taxes based on the actual value of the property that you own. The thing I have a problem with is the tax increase that is built into AVI.

Just adjusting a property to market value is already going to cause huge shocks to the market why are they adding another 85 million to that problem? I also think it is very irresponsible to increase taxes when the city is already owed $500 million in back taxes that it refuses to collect. There should be a law that no real estate tax increase can happen until tax collections hit a certain % and properties that do not pay go to auction within 12 months.

From a economic/business aspect the thing that scares me the most about the whole AVI thing is the Use and Occupancy Tax on commercial properties. It is currently at 4.62 per $100 of assessed value. For a commercial property under the current system properties are supposed to be assessed at 32% of market value. Since AVI is taking assessments from 32% of value to 100% of value the gross tax rate on the U & O tax should change from 4.62 per $100 of assessed value to 1.4784 per $100 of assessed value. To be tax neutral the rate change needs to happen. As I currently read the U & O tax law the 4.62 is a set rate and will not recalculate to 1.4784 meaning commercial tenants and property owners are about to get a massive tax increase.

To put this into perspective commcerical properties in South Jersey which historically has had real estate taxes was between 2-3 per $100 of assessed value. If they don't change the U & O tax rate commercial properties in Philly will be paying double what South Jersey commercial spaces pay just from the U & O tax which does not even bring the regular real estate tax into consideration. I am very worried about what will happen if the U & O rate is not changed. I think it will drive a lot of business out of the city and into the suburbs and kill commercial propert values all in one quick stroke.

I just really hope I am missing something here.

summersm343 · #**5486** Posted: **Jun 11, 2012, 10:41 PM**

Plan Philly also posted the Planning Commissions agenda for tomorrows meeting and both of these new residential projects for the waterfront are being discussed as information only so there are no renders yet. Glad to see more residential coming to the waterfront.

http://planphilly.com/event/philadel...onthly-meeting

riccardo... there is already a render for 250 North Columbus ave. It will be 11 stories at 120 feet I believe.

http://planphilly.com/pcpc-tells-mar...ranklin-bridge

Also... while checking out Cope Linder architects (the ones proposing two of the waterfront developments), I stumbled upon a render of a redevelopment of a rehabbed Divine Lorraine and surrounding area with residential.

You can find it here under multi-family residential.
http://www.cope-linder.com/index.html

volguus zildrohar · #**5487** Posted: **Jun 12, 2012, 2:53 AM**

Thanks for the tip, summer. Here are the images from Cope Linder:

Residences At The Lorraine.

150 condominiums within the Divine Lorraine itself. Mixed-use residential/supermarket/health club development on adjacent parcels with 450 1br/eff units, 620 parking spaces and pedestrian plaza.

summersm343 · #**5488** Posted: **Jun 12, 2012, 3:37 AM**

Quote:

Originally Posted by volguus zildrohar

Thanks for the tip, summer. Here are the images from Cope Linder:

Residences At The Lorraine.

150 condominiums within the Divine Lorraine itself. Mixed-use residential/supermarket/health club development on adjacent parcels with 450 1br/eff units, 620 parking spaces and pedestrian plaza.

Thanks VZ... couldn't get the pics to post for some reason.

SkyscraperGuru · #**5489** Posted: **Jun 12, 2012, 12:26 PM**

The city sure is giving me a birthday present today - all these buildings look stunning.

montréaliste · #**5490** Posted: **Jun 12, 2012, 12:47 PM**

Quote:

Originally Posted by SkyscraperGuru

The city sure is giving me a birthday present today - all these buildings look stunning.

Wow! Good for you guys on this long overdue rehab of the Divine Lorraine.
Definitely a nice notch-up of the street in the while to come.

Insoluble · #**5491** Posted: **Jun 12, 2012, 1:59 PM**

Wait, am I missing something here? Is this a serious proposal or just a vision? Either way it's a better proposal than the horrible idea of consolidating a bunch of schools on the site (which I think was being kicked around about a month ago). But do they really need that much parking here? It's right next to a subway stop!

UCityGardener · #**5492** Posted: **Jun 12, 2012, 2:33 PM**

Quote:

Originally Posted by summersm343

P
Also... while checking out Cope Linder architects (the ones proposing two of the waterfront developments), I stumbled upon a render of a redevelopment of a rehabbed Divine Lorraine and surrounding area with residential.

You can find it here under multi-family residential.
http://www.cope-linder.com/index.html

I know I have said in the past that the Divine Lorraine had a strong headwind against it, but I hope I never gave the impression that I wanted to see it not enjoy a new life. I'd LOVE to see this proposal come to fruition. What a kick in the butt that would be for North Broad!

McBane · #**5493** Posted: **Jun 12, 2012, 2:56 PM**

The DL project looks nice, sans parking. But I think it is a vision.

Back to reality, anyone know what's up with the three apartment proposals on the Waterfront. The 11 story one we are all aware of. What about the other two?

Since these are going before the Planning Commission, I'd assume these are much more realistic and would like to know more about them.

bucks native · #**5494** Posted: **Jun 12, 2012, 3:09 PM**

Quote:

Originally Posted by summersm343

I stumbled upon a render of a redevelopment of a rehabbed Divine Lorraine and surrounding area with residential.

You can find it here under multi-family residential.
http://www.cope-linder.com/index.html

Cope Linder's website has lots of old stuff, including the Walforf.

bucks native · #**5495** Posted: **Jun 12, 2012, 3:13 PM**

Here's Stern render:

Credit to NC3D

Here's a NYTimes article: http://www.nytimes.com/2012/06/12/ar...?_r=1&src=dayp

summersm343 · #**5496** Posted: **Jun 12, 2012, 6:04 PM**

Quote:

Originally Posted by SkyscraperGuru

The city sure is giving me a birthday present today - all these buildings look stunning.

Happy birthday man.

Quote:

Originally Posted by Insoluble

Wait, am I missing something here? Is this a serious proposal or just a vision? Either way it's a better proposal than the horrible idea of consolidating a bunch of schools on the site (which I think was being kicked around about a month ago). But do they really need that much parking here? It's right next to a subway stop!

Not sure. There were supposedly two proposals for it... is this one of them? But it's a render of what could become of the Divine Lorraine regardless.

Quote:

Originally Posted by bucks native

Cope Linder's website has lots of old stuff, including the Walforf.

Yep but who knows. It is nice to see something imagined for the Divine Lorraine however since we haven't seen anything yet.

summersm343 · #**5497** Posted: **Jun 12, 2012, 6:05 PM**

Quote:

Originally Posted by bucks native

Here's Stern render:

Credit to NC3D

Here's a NYTimes article: http://www.nytimes.com/2012/06/12/ar...?_r=1&src=dayp

I'm not sure how I feel about this.

Also.... it seems "the Porch" is already getting a make over.
http://nakedphilly.com/university-ci...ng-reimagined/

More info on the TOD development "Paseo Verde" next to Temple University Station as well.

http://nakedphilly.com/temple/next-t...t-paseo-verde/

We were also named number 10 in the top 10 U.S. cities for outdoor space
http://www.fastcoexist.com/1679959/t...-outdoor-space

josef · #**5498** Posted: **Jun 12, 2012, 6:35 PM**

Quote:

Originally Posted by summersm343

I'm not sure how I feel about this.

Nathaniel Popkin is not a fan.

http://hiddencityphila.org/2012/06/a...lls-church-va/

Quote:

Originally Posted by summersm343

Also.... it seems "the Porch" is already getting a make over.
http://nakedphilly.com/university-ci...ng-reimagined/

I think this is good news, since they always said what they did first was a phase one situation, doing what they could with the money they had at the time. I use that station a lot, I'm curious to see what they put up.

hammersklavier · #**5499** Posted: **Jun 12, 2012, 9:04 PM**

Nathaniel Popkin has a...thing...with modern architecture, which several H.C. contributors, including some who write on this board, disagree with.

josef · #**5500** Posted: **Jun 12, 2012, 9:12 PM**

Quote:

Originally Posted by hammersklavier

Nathaniel Popkin has a...thing...with modern architecture, which several H.C. contributors, including some who write on this board, disagree with.

Fair enough. What do you guys here think of it? If it's going to be another omg-super-red-brick building, is it at least a step up from the previous omg-super-red-brick building?