It looks like those early buyers at 1706 Rittenhouse are starting to see the value in their investment. The first resale of a unit in the luxury building recently closed on May 21 for a whopping $7.14 million, according to Zillow. City records show that unit 1901 was purchased in 2011 for $4.825 million. Yeah, we’d say that’s a pretty good return.
Change of Plans: Boyd Theatre Proposal
It's a drastically different plan for 1900 Chestnut Street.
Epic Throw-In for Center City Penthouse
Want a brand new Benz and a killer penthouse?
Center City Offices to Get Transit Screens
The real-time transit tech will show SEPTA, Uber and even Bike Share data.
Pier Developers Down to Three Finalists
Who's in the mix and what's next.
Ah, the classic compromised bike lane, a lane almost all of us — too many of us — have had the misfortune of cycling into on our pedaling journeys throughout the city. In fact, the Philadelphia Parking Authority reports there have been over 270 blocked bike lanes since December 2013, which is sad considering Philly’s built-in bike-friendliness.
Now, we’re guessing that number is higher since the data appears to have been acquired with the help of the Twitter hashtag #UnblockBikeLanes. The tag, of course, was created for the very purpose of encouraging cyclists to share their BBL incidents with an accompanying photo, thereby allowing the PPA to issue tickets to bike lane transgressors. There’s also the option of calling in to report a blocked bike lane at 215-683-9627.
Imagine all the incidents not reported.
Alright, so you already know that the proposal at 1213-19 Walnut Street–nicknamed “Fergie’s Tower” as the lot literally surrounds Fergie’s Pub–could possibly start construction in July.
Thanks to the public application through the state’s Redevelopment Assistance Capital Program, we now know that Walnut 1213 Associated L.P. has applied for a $5 million grant for the project “dubbed 1213 Walnut Street Redevelopment.” Accompanying the grant application is a “Brief Project Description” field that tells us what the plans are going to be should this project get built: Read more »
We’re going old school with this week’s farmhouse pick and we think you’ll love it: a three-acre property with a classic fieldstone farmhouse, bank barn, carriage house, and four-car garage. It’s being sold with 66 years remaining on a “100-year ground lease of additional 5.7-acre horse pasture owned by the township.”
Even better, it has a professional office with exposed beams, antique wood stove, and an enclosed spiral staircase leading up to loft designed for additional desk space. Hmm…isn’t it time you got started on that novel?
Out of Reach 2015, a new report entitled from the National Low Income Housing Coalition, says that workers would need to take home $17.57 per hour on average in order to afford the rent on a two-bedroom apartment in Pennsylvania. Here’s the thing, the minimum wage is only $7.25 per hour and the average hourly wage for renters statewide is only $13.66. The report summarizes that workers who earn the minimum wage in PA would have to work 78 hours per week in order to afford a one-bedroom at Fair Market Rent ($739 per month).
As you might expect, those sobering numbers are even higher in Philadelphia region, which is home to the five most expensive counties in the state (in terms of hourly wages needed for renting a two-bedroom apartment). The take home pay swells to $22.23 per hour in Philadelphia, Bucks, Chester, Delaware and Montgomery counties. Earn minimum wage and want to rent a one-bedroom within Philadelphia? The report says you’d have to work an average of 102 hours per week to make that happen.
We’d love to have our hands on the latest renderings of the upcoming Residences at the Curtis, but as the saying goes, good things comes to those who wait and wait we must as those are currently in the works. When will they be ready? “Probably another couple of weeks,” wrote a DAS Architects spokesperson in an email, adding that the “project is on track to begin this summer.”
Earlier this year, Keystone Property Group development director Jennifer Cooperman said she envisioned a “vibrant pedestrian experience” to come from the office to mixed-use switch of the Beaux Arts-style building at 6th and Walnut. (KPG, you’ll recall, is joint owner of the structure along with Mack-Cali Realty Corp., the two having purchased the property last year.)
Will another hotel soon join the Courtyard Marriot inside the friendly confines of the Navy Yard? While nothing is certain as of yet, Jacob Adelman of the The Inquirer reports that Franklin Square Capital Partners, an investment firm based in the Navy Yard, has applied for a $7.5 million grant through the state’s Redevelopment Assistance Capital Program (RACP).
The project description on the application shines from light on the plan: Read more »
The same day the Historical Commission’s Architecture Committee gave Eimer Architecture and Pearl Properties the thumbs down for their plans at the Boyd Theatre site, another iconic property owner was on the losing end of a request to do some building tweaking of their own.
Tuesday saw a Loews Hotel spokesperson present their case for replacing the neon sign atop the Loews Philadelphia Hotel (i.e. the PSFS Building) with LED lights, stating that the old sign “has become too costly and burdensome to maintain.” The Inquirer’s Maria Panaritis reports the committee “voted unanimously against the idea,” citing its historical significance and its repair viability as reasons to keep it:
The 700 block of Chestnut Street is about to see some major changes. Sure, you could point to the 32-story tower proposal at the surface parking lot at 709 Chestnut Street as proof positive, but there are smaller plans in the works that will also have a significant impact.
For starters, the movement to have four architecturally important buildings designated as historic means that the character of the block will remain. (A welcome sight an ever-changing city, as well as for a block that features a garish parking garage at the corner of 8th and Chestnut.) That includes the former Quaker City National Bank Building, as well as a lesser known project that will see four condos (with asking prices over the $1 million mark each) added to the block at 725 Chestnut Street, the former home of the Philadelphia Blueprint Company. Read more »
Seriously? As if this custom-designed residence nestled right off historic Kings Highway weren’t pleasant enough with its foliage surround and, quote, “artistically landscaped secret garden” to lure us, its designers went ahead and incorporated its wonderfully verdant location into the home’s interior: there’s a garden atrium facing one of the property’s private outdoor spaces.
Allergies keeping you from delighting in this news? No problem! There’s an entire wall with over-sized windows in the nineteen-foot high entertainment living room area (pictured above) that faces the aforementioned secret garden. In other words, a deluge of natural light and clear view of the grounds, which contain “stunning rock formations,” two small ponds and waterfalls, can go appreciated without all that pesky pollen ruining the scene for you.