Category residential

More residential growth for University City

 
As if UCity did not have enough projects going on already, add another one to their long list of successful growth.

University City’s famed Science Center is planning to build a 27-story apartment building at the corner of 36th & Market. Their main motivation for this building is to create “a hub for innovation and entrepreneurship.”

Given that this place is expected to house 364 apartments (1 and 2 bedroom options), a fitness center, resident lounge, rooftop pool, parking, and 17,000 sq ft of ground floor retail space, you might be asking, “who is their target market for residents?”

Well, that’s a great question.

According to the article, the Science Center is looking to market the building to local professionals and business owners in the immediate area, as well as both Penn and Drexel students.

I completely agree.

Over the last 10 years, UCity has slowly turned into an education/medical/tech hub for students (both graduate and undergraduate), young professionals, and families. Not only for schools/jobs, but for living options as well. Considering that this building will have high-end features (granite countertops, stainless steel appliances, etc.) and amenities (fitness center, rooftop pool, etc.), I think they hit the nail on the head.

The industries that are growing in this part of Philadelphia all support the income level needed for this type of living, and it also encourages future growth for more of the same.

Oh … and I forgot to mention, this building will also be sustainable and environmentally friendly (with the Science Center shooting for LEED Silver Certification).

Another big development proposition for the Waterfront

This one would indeed be large and in charge.

Here are some of the details:

  • Four Towers
    • 2 Larger Towers = 426 Feet Each
    • 2 Smaller Towers = 227 Feet Each
  • 1,458 Residential Units
  • Mixed-Use Project
  • Public Green Space
  • Green Roofs
  • Roof-Top Swimming Pools
  • LEED Certified

Sounds like a cool project, right?

It will be interesting to see if Philadelphia’s City Planning Commission overrides the Delaware River Waterfront Corporation on this one (they do have the power to). While the project sounds awesome, and meets most of the Delaware River Master Plan’s goals, it exceeds the height limits set forth in the plan.

As the economy starts to pick up even more, I’m sure this issue will keep popping up. Let’s see if builders and planners can come to some kind of an agreement on these proposed projects.

Another Delaware River Waterfront development is proposed

 
Now that the Marina View development seems to be moving forward, more proposed projects are popping up left and right.

Such is the case with Ensemble Real Estate looking to build on Piers 34 & 35.

The as-of-yet to be named building will consist of the following:

  • 204 Residential Units
  • 12 Floors
  • Potential Lower Level Retail
  • Terrace with a Green Roof and Tree Planters

I think it all sounds great, but there’s just one problem. ERE is looking for an exception to override the current 100 foot height limit set for this part of the Delaware River Waterfront. The same thing happened recently with Marina View, and they received their requested exception (although they probably shouldn’t have).

But how many exceptions is the DRWC supposed to make? One for every new developer just because they are building in Philadelphia during a slow real estate market? Why is there even a Master Plan in place if every new builder gets a free pass?

Personally, I am pro-development (depending on the purpose of the project); especially in this current housing market. But I also believe that rules/guidelines are in place for a reason, to be followed. If the DWRC gives ERE a pass here, you can be rest assured that the Master Plan (which took years to put together) is slowly going to get put on the back burner as the next few projects come up for approval.

What are your thoughts on this?