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Looks very nice, but is it realistic in the next 5 years? Is Philly's market that strong that it can get 2 supertalls in the same decade?
it would all depend upon a tenant to me The other was spawned by expansion of Comcast needs, to me this would likely have to be driven by some relocation company for the tallest building
I also know there is some very serious discussions to try and lure an EC office of one of the big Bay tech firms into the area, time will tell as always and if I were a betting man much will scaled back in this initial proposal
Looks very nice, but is it realistic in the next 5 years? Is Philly's market that strong that it can get 2 supertalls in the same decade?
Not within the next 5 years. The press conference is today and developers are claiming this will have total build out in 20 years. There are 8-9 towers total in this development, so that's 2 years per tower.
The market is definitely strengthening slowly but surely. Remember Philadelphia had a 975 footer built in 2008, now a 1,121 footer built by 2018. Another 10 years from now there could definitely be a new tallest in Philadelphia.
After all, this is Brandywine Realty trust, not some pie-in-the-sky developer. This same company built Cira Centre, Evo, and is currently building FMC Tower. They're definitely invested in Philadelphia.
The "Schuylkill Yards" development will be home to apartments, hotel rooms, academic space, incubator/lab space, office space, etc. This project is definitely manageable for Philadelphia over the next 20 years.
It's pretty well documented that the older parts of downtown D.C. that predate the year 2000 aren't mixed use and include very little residential space. Well, the changes I have been saying were coming to downtown D.C. soon are about to begin. Congress is finally selling multiple major super blocks across downtown D.C. that will be redeveloped into mixed use developments with much needed residential units.
These buildings are just the beginning as most of the Federal buildings are coming of age and will be sold to private developers. Downtown D.C.'s residential population is going to explode over time. Good times ahead.
The Purple Line will include 21 stations with stops in Silver Spring, Takoma/Langley Park and College Park. It will serve an estimated 69,000 daily riders by 2040.
Construction Fall 2016, Delivered Spring 2022.
Good stuff! I'll actually be relocating to Silver Spring in a few weeks and while I don't know if I'll be in the area when the line opens, it's good to know progress is being made on this.
Too bad the red line in Baltimore got the shaft though.
it would all depend upon a tenant to me The other was spawned by expansion of Comcast needs, to me this would likely have to be driven by some relocation company for the tallest building
I also know there is some very serious discussions to try and lure an EC office of one of the big Bay tech firms into the area, time will tell as always and if I were a betting man much will scaled back in this initial proposal
If everything was being proposed all at once, I think you'd be right, but given the fairly long-term timeline, I think this master plan is ambitious but definitely achievable given Philly's steady upward trajectory and the solid players involved.
In general, it's great to see so many American cities really come into their own in terms of ambitious, mixed-use and authentically urban proposals! It's these kinds of projects that will increase our cities' quality-of-life and competitiveness in the years to come.
The development is the latest - and perhaps most prominent - major project in a burst of real estate activity in and around Philadelphia's University City district of educational, medical and research institutions.
The Radnor-based company will oversee a team for Schuylkill Yards that includes residential developer Gotham Organization Inc. of New York and life-sciences specialists Longfellow Real Estate Partners of Boston. It will be the first project in Philadelphia for both firms.
New York's SHoP Architects will develop the project's streetscape and architectural standards, while Dutch firm West 8 designs its landscapes.
Brandywine's deal with Drexel gives the developer a long-term lease for the property, and grants the university first dibs on space in Schuylkill Yards' new and redeveloped buildings - along with favorable leasing terms - for classrooms, offices and labs.
Other financial terms of the partnership were not disclosed. The development will cost "well over a couple billion dollars" and will generate more than 10,000 construction jobs and about 15,000 permanent jobs, said Sweeney, who was unable to provide more specific figures.
The project is being built in an area designated as a Keystone Opportunity Zone, which gives companies with offices there breaks on some city and state taxes in return for creating jobs or making large investments.
it would all depend upon a tenant to me The other was spawned by expansion of Comcast needs, to me this would likely have to be driven by some relocation company for the tallest building
I also know there is some very serious discussions to try and lure an EC office of one of the big Bay tech firms into the area, time will tell as always and if I were a betting man much will scaled back in this initial proposal
Looks like you could be right on the Bay area tech firms. Looks like a rep from Apple was there today:
Drexel, Brandywine Take Wraps Off Schuylkill Yards
Quote:
The next big step in the evolution of University City into Philadelphia’s “second downtown” began this afternoon inside a tent next to One Drexel Plaza, where Drexel University President John Fry and Brandywine Realty Trust CEO Gerard Sweeney unveiled the master plan for the new mixed-use “innovation neighborhood” they will create together. They also announced its name: Schuylkill Yards.
The development, which will be built in several phases starting in a few months and stretching over 20 years, will contain about 5 to 6 million square feet of space when fully built out. About 55 percent of the total will be office space, with the rest a mix of laboratory space and residential buildings, with street-level retail throughout and a landscaped public park at its heart.
Accordingly, the central public space, to be called Drexel Square, is part of the project's first phase. Work on the 1.3-acre park across from 30th Street Station and the transformation of JFK Boulevard west of the station into a pedestrian-friendly promenade will begin later this year, followed by a reimagination of One Drexel Plaza, the former home of The Evening Bulletin, starting in early 2017. The first new building, a 700,000-square-foot office building with street-level retail across JFK Boulevard from Drexel Square, should get under way in late 2017 or early 2018.
Fry sees this project as a major step towards making the Schuylkill a focal point for a greater city center instead of a dividing line between Center City and University City.
Also speaking along with Fry and Sweeney at the formal unveiling ceremony were City Councilwoman Jannie Blackwell, Bruce Katz of the Brookings Metropolitan Policy Center and Jim Bean, vice president of retail at Apple Inc. and a Drexel alumnus.
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