Category center city

New Philadelphia development will take a different approach to high-rise living

Marketplace Design Center
Marketplace Design Center, Philadelphia | Image courtesy of Bradley Maule

 
In general, apartment living in Philadelphia is pretty standard and predictable.

Your most common options are: “Studio,” “1 Bed,” and “2 Beds.” Once you need “3+ Beds,” the most common options are rowhomes, twins, or single families; not apartments/condos.

In 2015, the real estate status quo will shift due to changing demographics.

If you are unfamiliar with the Marketplace Design Center, let me paint the picture. When you are driving along I-76 (east or west) and you reach the downtown vicinity, there are multiple overpasses/bridges from both I-676 and Center City/University City connections. If you look across the Schuylkill River from I-76, you will see a large waterfront property with a giant mural on it. The mural is an ocean scene with whales swimming; officially known as Robert Wyland’s “East Coast Humpbacks,” circa 1993.

That’s the place.

Now that you have a point of reference, let’s talk about the latest project to grace the MDC (as there have been other recent attempts to redevelop the building, due to its prime location). PMC Property Group is looking to reconfigure the building into a modern, mixed-use destination (e.g. office space, ground-floor retail, hotel rooms, and apartments).

Unfortunately, it sounds like Wyland’s mural won’t make it through the rehab; bummer.

In order to fit all of these new elements, the building will expand vertically to accommodate the new apartments and hotel rooms. New entrances and lobbies will also make the building more inviting from the street.

What about the “different approach” you mentioned in the title? How does that play into this?

Okay, this is how Philadelphia’s new approach relates to a city like NYC. The apartment/condo lifestyle in Philadelphia mostly caters to 2 groups: students/young professionals, and empty-nesters. Reason being, most people in those demographic groups only need a maximum of 2 Beds.

But what if someone wants to keep their apartment/condo lifestyle after they start a family? This is what PMC wants to accomplish.

In NYC, you can get apartments/condos/co-ops with 3+ Beds (and even 4+ Beds). Meaning you can live in a high-rise building and still have a large living space. Reason being, NYC is the densest metropolitan area in the US; therefore, NYC grows vertically to accommodate population growth.

So, if Philadelphians are flocking to Center City to enhance their lifestyles and the population is rising, we should now offer the same options as well.

That’s why instead of the typical “Studio,” “1 Bed,” “2 Beds” approach, the new Marketplace Design Center will feature “1 Bed,” “2 Beds,” and “3 Beds” options in the residential section of the building. This can now cater to both young families (1-2 children) and extended families (nuclear families living with relatives); or, to those who just want/need more living space.

No matter which way you look at it, Philadelphia is currently experiencing a housing gap for the high-rise family lifestyle.

The project is expected to kick off in June 2015, so keep your eyes peeled for activity.

New development projects are changing the face of Philadelphia

Center City, Philadelphia | Comcast Innovation + Technology Center

If you have been a loyal PUL.com reader over the last few years, then you already know that I love to talk about new development.

Why, you may ask?

Well, for starters, I am in the real estate business and I love what I do; I also have a passion for all things new construction and/or rehab related in the City of Brotherly Love. Residential, commercial, industrial, you name it. If it’s happening, I’m interested.

Next reason, I’m a positive/optimistic kind of guy. “Doom and Gloom” has never been my bag, so it’s only natural for me to provide insight and observation when good things are happening in the Greater Philadelphia area.

Last reason, Philadelphia is my home-sweet-home and a true national underdog. We were once at the top, then on the bottom, and now somewhere in between. The last 20+ years have been very exciting for our fair city, so naturally when good news is being announced, I enjoy discussing it.

And there you have it, my friends. 

Okay, back to the post.

Flying Kite has been around for a few years now, and it’s a great resource if you ever want to read up on what’s new and exciting in/around Philadelphia. FK focuses on both the city and suburbs, while “highlighting the people, ideas, neighborhoods, companies and institutions that are helping return Philadelphia to world-class city status.”

It’s also one of my go-to spots for finding the latest news about Philadelphia, and then stamping what I read with my own personal and professional perspectives. That’s what blogging is all about, and why I enjoy doing it.

As aptly named in this post’s title, there have been lots of new projects proposed and approved recently in the City of Philadelphia. Some may seem too small to make any sort of change, and some may seem so big that it’s hard to imagine they will ever be built.

Either way, FK recently put out a list of “14 development projects” that have serious potential for positive change in Philadelphia. As to not bore you with my thoughts on each and every one, here are a few that I found to be the most important (the entire list can be found here):

– Rodin Square, Fairmount + Art Museum Area: If you have not strolled along West Fairmount Ave in 19130 for a few years … go. It’s crazy down there! Crazy-good, that is. Not only has the neighborhood found firm footing with new homeowners, new families, and new Philadelphians, but there are new businesses and new mixed-use buildings to boot. What first started as a residential revival on the western side of 19130, has since turned into a commercial boom with even more residential development spilling over to the eastern side (namely, in Francisville). Rodin Square will be a great connector project between all-of-the-good-already-happening in Fairmount, and the ever-burning-energy coming out of Center City (and a newly designed Benjamin Franklin Parkway). To top it all off, the project will feature a brand new Whole Foods, large/floor-to-ceiling glass cafe, 300 new residential units, “sky park (aka “luxury baller status”),” and additional parking.

– Frankford Chocolate Factory, Graduate Hospital: Not sure what I’m referring to? If you’re heading north on 22nd St, from South Philly, it’s on your right as soon as you hit Washington Ave; or, if you are driving east/west on Washington Ave, it’s on the northeast corner of 22nd St. Although it’s kind of hard to miss, it looks like a dead spot. For something that takes up an entire city block in one of Philadelphia’s hottest neighborhoods, you would think this would have turned into something new by now. The reason not is because it has been tied up in legal battles for years over the ex-owner’s estate (the late Vietnamese businessman, Truong Dinh Tran). Now, it’s on the market for an eligible buyer (who can turn it into something great). The last few years have already seen spillover from Graduate Hospital into Northern Point Breeze and Newbold, but a project this big (if done right) can only make that connection even better.

– Comcast Innovation + Technology Center, Logan Square: If you have not read about this one yet, I put a pretty detailed post together back in January 2014 (everything you need is there). But as far as game-changers go for Philadelphia these days, this is the one. With a height of 1,100 feet, 59 stories, Four Seasons Hotel (taking up 13 of the top floors), $1.2B price tag, and the tallest US building outside of NYC and Chicago, how can you not be pumped to see how this one turns out. Market West has primarily been a “business-first, pleasure-second” kind of Center City area for the past 30+ years, but a project like this could spur even more residential/retail growth in an already-dense urban neighborhood. Oh, and there should be almost 3,000 new/permanent jobs related to just the building alone. That does not account for all of the additional jobs just to build it, as well as those that will surround the building in the near future. Super-exciting-project!

– Reading Viaduct Rail Park, Callowhill + Loft District: From what seemed like a pipe dream just a few years ago, after NYC introduced its highly-touted “High Line,” has since turned into a reality with planning, funding, and a whole lot of positive energy behind it. What is now a neighborhood that seems lost for a new identity, may soon turn into a neighborhood that successfully bridges the gap between Northern Liberties and Center City. It’s hard not to see the potential in this one, with dirt expected to start moving in 2015.

So if you have been away from Philadelphia’s local development scene for some time now, my hope is that this post has helped spread the good word. Amazing things are happening in the City of Brotherly Love, and the energy is contagious.

Philadelphia is a “Top 10 US Destination City”

Photo courtesy of HuffPost Travel

 
Not quite sure what my title means exactly? I felt the same way … until I read this entire article.

When we think of “destination cities,” we think of places we would like to visit and/or potentially move to. That’s really what makes these places destinations. There are lots of things to see/do, the population is increasing, there are job opportunities, and the culture is cool.

That’s why I would want to visit/move-to a new city, wouldn’t you?

Well, Philadelphia just cracked the Top 10, and for very valid reasons. Here is a breakdown of why we made the list:

– “Philadelphia is a multi-faceted destination:” As stated in the report, “Philadelphia fuses colonial American history with contemporary charm.” For those who have never been, 2014 Philadelphia is a healthy mix of both “old” and “new.” When referring to the “old,” our city has tons of history, established businesses, eclectic neighborhoods, and generations of locals. It’s what separates Philadelphia from a majority of other US cities. When referring to the “new,” our city is experiencing a real estate development boom, population increases, new city residents from all over the world, and a culinary scene that can only be matched by a few other US cities. That is what makes Philadelphia multi-faceted, and keeps us competitive with other US cities. That is also why we had 39 million visitors in 2013, with a sizable increase in international travel.

– “Philadelphia is compact and easy to navigate:” I don’t think anyone would argue with this one. As for overall city population, Philadelphia currently ranks 5th (behind NYC, LA, Chicago, and Houston). As for city population density, Philadelphia also ranks 5th (behind NYC, San Francisco, Boston, and Chicago). The fact that we fall in the same spot for both means that we have a large, dense, and urban city; not to mention that our public transportation infrastructure is expansive and far-reaching. In other words, the average Philadelphian can get from Point A to Point B fairly easily, and at a reasonable cost. This not only adds to Philadelphia’s overall quality of life, but it makes our city an attractive place to live. As many have said before, including myself, Philadelphia is a very manageable big city.

– “Center City is packed with museums of all stripes, as well as historic monuments:” Every city has its focus area. This is a city’s lifeblood, and it feeds into other aspects of the surrounding metro area (e.g. jobs, tourism, etc). For Philadelphia, this area is Center City. Not only is CC the cultural and entertainment hub of Philadelphia, it’s also the most popular place to live in the city. Neighborhoods like Rittenhouse Square and Old City offer Philadelphians the option to live in a low-rise, historic neighborhood, but still be within walking/biking distance to jobs, restaurants, shopping, and public transportation. On top of that, Philadelphia’s best museums and historic sites are located within the Center City area as well. This means that both visitors and residents interact on a daily basis, which adds to our city’s charm and appeal.

From someone who’s job involves working with clients from all over the world, Philadelphia’s current reputation far surpasses what some locals recall from years past. We are a city on the rise, and the future is bright.