Category commercial

Future residential construction in Greater Philadelphia is up 25%

For real?

Yes, for real.

Not only that, but future non-residential construction is up 2% over last year. That’s great news for our area. It means that developers/builders are foreseeing an uptick in demand for the near future. Otherwise, they would not be planning/building; trust me.

When demand goes up, prices go up. When prices go up, people start scrambling. Why not beat them to the punch?

LEED certified high-rise planned for Chinatown

Here are the details:

  • 23 stories (265 feet tall)
  • Mixed-use building (commercial on the bottom, residential on top)
  • LEED certified silver
  • Expansion of Chinatown northward
  • Infill where a parking lot currently sits

Honestly, what’s not to like about this project? More approvals are still needed from the city (i.e. zoning, etc.), but my feeling is that this building will go up at some point in the near future.

2.0 University Place

Here’s another feather in UCity’s cap.

Let me lay out the details:

  • New, state-of-the-art office space (97,000 square feet of it).
  • Green roof, with a roof-top garden.
  • A large anchor tenant, which means more jobs for the area.
  • Infill for another vacant lot that will create revenue for the city. 
  • Construction of a new office building in this sluggish economy.

Honestly, nothing but good news for an area of Philadelphia that just keeps on growing.