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Old 02-04-2013, 12:40 AM
 
Location: Philadelphia
171 posts, read 177,672 times
Reputation: 112

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Quote:
Originally Posted by jm02 View Post
More on the current state and future plans for the Navy Yard: Navy Yard's next phase

Such "office parks" are common in many growing cities. While I suspect many of us would like to see these businesses located in CC, at least they are in Philadelphia County. A new hotel is being built in the Navy Yard and the plan calls for apartment complexes which will lead to more retail, dining, etc. I see a lot of potential in having a third center of activity (the others being CC and UCity), creating a triangle of development and growth with financial incentive for infill.
The trouble with the Navy Yard is, many of those businesses were in Center City, or other locations within the city limits.

None of them, as far as I know, were seriously considering leaving the city when they moved. So in essence the city cannibalized its own job base in order to stimulate activity in an underused facility.

My contributor Greg Meckstroth identified this strategy - rightly, I think - as "an economic loser for Philly." What's more, there's research that concludes that business tax incentives create no net new jobs, period, anywhere they're used.

The better strategy would be to make sure the city and region have a favorable business climate overall. Cut down on unnecessary regulation, make taxes less onerous across the board, stuff like that.
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Old 02-04-2013, 09:45 AM
 
Location: Center City
3,940 posts, read 3,214,972 times
Reputation: 4978
Quote:
Originally Posted by MarketStEl View Post
The trouble with the Navy Yard is, many of those businesses were in Center City, or other locations within the city limits.

None of them, as far as I know, were seriously considering leaving the city when they moved. So in essence the city cannibalized its own job base in order to stimulate activity in an underused facility.

My contributor Greg Meckstroth identified this strategy - rightly, I think - as "an economic loser for Philly." What's more, there's research that concludes that business tax incentives create no net new jobs, period, anywhere they're used.
If there was no Navy Yard, a reasonable scenario could be that these many of these businesses would have chosen to relocate outside the city. Over time having an attractive "business park" within the city boundaries that features mixed use residential and retail seems a win, as opposed to ceding such business-friendly facilities to the suburbs. You have provided a link which offers opposing views on the value of the Navy Yard to the city. As the years unfold, we will see which views are more accurate.

Quote:
Originally Posted by MarketStEl View Post
The better strategy would be to make sure the city and region have a favorable business climate overall. Cut down on unnecessary regulation, make taxes less onerous across the board, stuff like that.
I agree that this is a good strategy. It is not an either/or proposition, however. We can have an additional center of commerce within the city in addition to a better tax and business climate.
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Old 02-04-2013, 10:18 AM
 
Location: Philadelphian-transplant from Miami
1,118 posts, read 551,837 times
Reputation: 1634
Quote:
Originally Posted by jm02 View Post
More on the current state and future plans for the Navy Yard: Navy Yard's next phase

Such "office parks" are common in many growing cities. While I suspect many of us would like to see these businesses located in CC, at least they are in Philadelphia County. A new hotel is being built in the Navy Yard and the plan calls for apartment complexes which will lead to more retail, dining, etc. I see a lot of potential in having a third center of activity (the others being CC and UCity), creating a triangle of development and growth with financial incentive for infill.
Yes!
I can see that happening!

And eventually the areas within the three "business" district will be filled up thus creating a more "urban" city experience! We can see that already happening between Center City and Univ. City!

Now if they can extend subway to go to the NAvy YArd!
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Old 02-04-2013, 03:56 PM
 
Location: The City
19,217 posts, read 16,313,171 times
Reputation: 5675


PlanPhilly | Engineering work soon to begin for 8-acre park atop I-95, Columbus Boulevard
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Old 02-04-2013, 03:59 PM
 
Location: The City
19,217 posts, read 16,313,171 times
Reputation: 5675




PlanPhilly | Navy Yard unveils updated master plan, celebrates 10K jobs milestone
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Old 02-05-2013, 09:39 AM
 
Location: Philadelphian-transplant from Miami
1,118 posts, read 551,837 times
Reputation: 1634
A very discouraging reality check for us. OH well, what can we do? If the rental cost of the condos in my area starts rising, I would start b****ing about it too.

A reminder from Toll Brothers that Philly is not New York - and neither is New York | Philadelphia Real Estate Blog
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Old 02-05-2013, 12:04 PM
 
Location: The City
19,217 posts, read 16,313,171 times
Reputation: 5675
Parking On Eakins Oval To Go Finally In Parkway Shift | Hidden City Philadelphia
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Old 02-05-2013, 12:06 PM
 
Location: The City
19,217 posts, read 16,313,171 times
Reputation: 5675
“Unapologetically Contemporary” Tower Seeks Architectural Pulse In North Philly | Hidden City Philadelphia
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Old 02-05-2013, 02:45 PM
 
Location: Philadelphian-transplant from Miami
1,118 posts, read 551,837 times
Reputation: 1634

LOVE IT! And I love the color!
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Old 02-05-2013, 02:49 PM
 
Location: The City
19,217 posts, read 16,313,171 times
Reputation: 5675
Quote:
Originally Posted by asiandudeyo View Post
LOVE IT! And I love the color!

I kind of like it too but I everytime I see the picture the word Lego comes to mind
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