Category hidden city

Significant mixed-use project coming to Brewerytown

Rendering of Girard27 | Courtesy of Hidden City Philadelphia

 
If I’ve said it once, (or about 6 other times on my blog … here, here, here, here, here, and here) I’ll say it again: Brewerytown has momentum.

Not the kind of momentum where real estate developers, speculators, buyers, and tenants are guessing that Brewerytown will be one of Philadelphia’s hottest neighborhoods. Brewerytown is one of Philadelphia’s hottest neighborhoods for real estate.

Both commercial and residential alike.

If you’re already familiar with B-Town’s recent success, you’re ahead of the curve. If you’re not, here’s how I personally look at Brewerytown’s current situation.

West Girard Ave (between N 32nd St & W College Ave) is a perfectly-sized “Main Street” for the dense, historic neighborhoods that surround it (i.e. Brewerytown, Templetown, Fairmount, etc). Stretching about 6 city blocks, this swath of W Girard offers mixed-use potential, interesting architecture, reasonable rent, and a captive audience.

Not too small, and not too big.

So, why am I even mentioning this commercial strip? Because it’s potentially turning Brewerytown into the next Manayunk … the next Fairmount … the next Graduate Hospital … the next Cedar Park and Spruce Hill.

Those neighborhoods are all thriving today based on the same, traditional, old-as-time concept: community. Where the community is strong, the neighborhood is strong. And because Philadelphia was built/planned to embrace tight-knit communities, this concept still rings true today.

Now that Girard27 has been planned for N 27th St and N Taney St, and received a decent enough reception from both long-time and newbie residents, my opinion is that this corridor now has a legitimate anchor. The new Bottom Dollar supermarket was a nice touch on the western border, and the Braverman project (which is just across the street from Girard27) will only add more appeal. Also, let’s not forget about some of the other small businesses along W Girard (i.e. RyBrew, Shifty’s Taco, etc).

Needless to say, Brewerytown is coming into its own.

Although this may seem like old news to some, especially those who already live in the immediate vicinity, I felt that adding a professional real estate opinion would help bring the good news home; and also provide a different perspective from someone on the outside, looking in.

For those who have never been to Brewerytown, or have not visited for a while, good things are happening … and the timing seems to be perfect.

Dranoff to partner with SLS on Philadelphia’s largest residential high-rise

Ground Floor Shot – Avenue Place

 
That’s right.

Carl Dranoff now officially owns all of South Broad St, just kidding. But he is making significant moves down there that almost make it seem that way.

Symphony House

777 South Broad

Southstar Lofts

… and now, Avenue Place (or so it has been dubbed).

With a BS from Drexel, and an MBA from Harvard, Carl Dranoff has been heavily involved in Philadelphia’s development scene for over 30 years. Not only has Dranoff developed the newly-minted projects on S Broad St (mentioned above), he is also responsible for World Cafe Live and The Left Bank in University City, as well as other projects in Center City and Manayunk.

Needless to say, the dude knows how to build things in Philadelphia.

 
Which is why it’s always encouraging to hear about one of his new, ambitious projects to help increase Philly’s urban appeal. Avenue Place has been described as a mixed-use high-rise utilizing retail, hotel, and residential elements.

The retail aspect has been been defined as ground floor with a restaurant, the hotel portion has been defined as an SLS Hotel, and the residential piece has been defined as condos (which is good to hear). Philadelphia has seen many new construction apartments recently built, or in the process of getting built, so it’s good to see developers putting their money back into condominiums and increasing home ownership in Philadelphia.

 
Here are some of the specs, courtesy of Liz Spikol at Philadelphia Magazine:

– 47 stories and 562 feet high
– 422,838 square feet
– Hotel and condos will have separate lobbies
– 162 hotel rooms
– 125 condo units ranging from one-bedroom to penthouse
– Ground-floor retail
– A fifth-floor, 6,000-square-foot, double-height glass ballroom
– A ground-floor corner bar and restaurant
– One level of underground parking
– Three levels of above-grade parking
– Total parking spots: 220
– Target groundbreaking: next fall
– Construction time: two years
– Cost: more than $200 million

Thanks, Liz!

If you’re looking for more information on this project, these articles will help:

47-story building set for South Broad

Dranoff to build PA’s highest residential tower

Philadelphia International Records out, 40-story hotel/condo in

Dranoff to develop another South Broad Street project

Photo courtesy of Bradley Maule – Hidden City Philadelphia

 

Modern spaces coming to Graduate Hospital

St. Albans St  |  Graduate Hospital, Philadelphia

 
Mixed-use meets modern architecture. That’s probably the best way I can describe these 2 up-and-coming projects in Philadelphia’s Graduate Hospital neighborhood.

If you are unfamiliar with Graduate Hospital (sometimes referred to as G-Ho, coined by Bradley Maule, founder of the former/newly-resurrected PhillySkyline.com), it may very well be Philadelphia’s most changed neighborhood over the past 10 years.

Formally named after an actual medical center, which used to be known as Graduate Hospital and is now known as Penn Medicine at Rittenhouse, this Center City’ish neighborhood still goes by the G-Ho name but has completely changed its look. Most local residents now prefer to call it Southwest Center City, or South-of-South (being that it’s just south of South St; clever). Its borders are most commonly recognized as being West of Broad St, South of South St, East of the Schuylkill River, and North of Washington Ave.

What has really made this neighborhood come alive in recent years is increased residential demand for Center City living. Center City has always been home to the following zip codes: 19103, 19102, 19107, and 19106. Nowadays, parts of 19130, 19146, and 19147 (among others) have basically become linked to Center City Philadelphia (or Downtown Philadelphia, if you’re not local). And since all of those neighborhoods (including G-Ho) offer similar amenities to Center City (e.g. walkability/bikeability, jobs, parks, restaurants/bars, events, etc.), they have now been meshed together and are being treated almost as one in the same; each with their own unique pros, cons, and prices.

What makes Graduate a little different? Here are a few things, in my professional opinion:

1. It’s heavily residential, and has well defined boundaries.
2. It has a great housing stock, as well as the option to build/buy new construction.
3. It’s has tree-lined streets, parks, and involved neighbors.
4. It’s just south of Rittenhouse/Fitler, just west of BV/QV, and just east of the Schuylkill River Trail.
5. It has an up-and-coming commercial scene on South St West kickstarted by restaurants, shops, and everyday businesses; which has also improved its overall livability.

Since all of this has occurred, prices have skyrocketed over the past 10 years (upwards of 500% in some instances).

Why?

Well, look at some of the reasons I noted above; those are common reasons that are driving people to discover urban living again. It’s a desirable neighborhood (due to its location), it has well defined boundaries (which limit its supply), and it has high demand (as already noted).

Now that you know a little more about G-Ho, check out these 2 new projects that are helping shape an already successful neighborhood into one of Philadelphia’s most desired spots.