Category development

Philadelphia is setting the precedent for mega-developments along the Delaware River Waterfront

The Delaware River Waterfront is on fire … figuratively speaking.

Check out all of these upcoming and/or in-process developments I’ve posted about before; here, here, here, here … oh, and here. Developments range from smaller, neighborhoody projects, to large scale projects (such as this one, which prompted this post).

I think this post is particularly important because it’s starting to show a trend for new development proposals along the Delaware River Waterfront. The Central Delaware Plan is taking precedence, and it’s telling developers what they can and cannot build; instead of vice-versa, which used to happen often in Philadelphia. The best part is, developers are getting rewarded for working within the strengths/rules of the plan, and are adding neighborhood friendly features.

To me, this is a win-win.

On the one hand, you have real estate developers that focus more on the bottom line and ROI than anything else; understood, as this is the main reason why new projects even happen. On the other hand, you have the City of Philadelphia (and especially, the local neighbors) that want smart development to enhance their quality of life; also understood, as they don’t want developers coming in and ruining their neighborhood with closed off, one-sided projects.

Hence, the Central Delaware Waterfront Master Plan.

Feel free to read more about this upcoming project (estimated to start Spring 2014), and see why the DWR is where it’s at.

Development in Point Breeze is already moving west

25th & Ellsworth – Point Breeze

 
If you recall a recent post that I did on CHOP’s new development in/around Graduate Hospital / Point Breeze / Grays Ferry, my point was centered around the PB/GF neighborhoods and the importance of securing anchor projects (like CHOP’s).

Now whether these anchor projects are residential or commercial at this point is moot, because what this area really needs as a whole is a stiff jolt in the arm; new growth. That jolt is productive development that will enhance the local micro-economies of both PB + GF, and increase the population in/around these neighborhoods without jeopardizing the stability of its current residents.

Tall order, but this is a start.

What this small’ish, residential project really does is increase the likelihood that Grays Ferry will indeed become a fringe/spillover neighborhood, at some point in the not-to-distant future, to G-Ho. In fact I believe a development such as this is so important, that it can potentially expand existing neighborhoods (like what has been happening in Kensington). Hence, GF + PB = G-Ho Spillover.

This past post will also shed some light on why I feel this may be happening.

The other reason why I believe this project may create what I am now officially dubbing the “No-Libs Effect,” is because it is being built right next to a huge neighborhood barrier: 25th Street’s Elevated Train Trestle. This concrete monster is as visible a neighborhood barrier can be. Not only is it a pain to drive/navigate under, but it completely separates PB from GF; literally.

Building on the border, and next to an active train line, may actually be the first step toward the growth of these 2 neighborhoods. It will also help legitimize Philadelphia’s identity as an up-and-coming, modern city that’s changing for the better.

CHOP marches east with 2,000,000 sq ft of new development

Aerial shot of both University City and Center City, Philadelphia

 
CHOP’s plan to go across the river on to the “Center City Side” of the Schuylkill, has been in the works for quite some time now.

The good news is that their latest meeting was the 4th installment highlighting CHOP’s plans for growth in Graduate Hospital. It will bring jobs, new commercial space, and additional green space to the neighborhood; all to a semi-industrial area that is not producing any economic output right now.

Awesome news!

Here are some of the details:

  • All new development on 9 acres of Schuylkill River waterfront
  • Over 2,000,000 sq ft of new office space (commercial, and possibly retail as well)
  • 4 phases (estimated to go from 2014/2015 – 2022)
  • Multiple buildings
  • Parking
  • Green space
  • Schuylkill River Trail extension (down to Christian St)

Wow, that’s a pretty big project for Graduate Hospital, and it should help with real estate values in this already bursting-at-the-seams neighborhood.

What I really like about this project is that it will most likely become an anchor for even more growth in the neighborhoods surrounding it, such as Point Breeze and Grays Ferry. PB has already seen steady growth in its northern section (just below Washington Ave) due to the overflow of demand from G-Ho, and the need for more similar housing (rehabbed rows, and/or new construction townhomes).

Please bear in mind that G-Ho’s/PB’s current growth up to now has really all been due to its location (just south of Rittenhouse Square); with close access to Center City, public transportation, major highways, etc.

Grays Ferry, on the other hand, has not seen the same growth from G-Ho spillover that PB has. Probably because PB is a huge neighborhood (with lots of available housing), and can support the current demand from interested buyers and renters; GF is a little further west. But when you add another 2,000,000 sq ft of office space with high-paying, white collar jobs to G-Ho’s back yard, what you will most likely get is more of the same type of housing. Hence, GF may also become a spillover neighborhood from G-Ho in the near future.

It will be interesting to see how this one plays out, from the start of construction to local neighborhood support (and/or opposition). If all of the medical related, new construction office space in University City wasn’t enough for CHOP already, they are now integrating their organization with Center City; which I think is great for this part of Philadelphia.

All positive news.