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Old 04-29-2012, 12:56 PM
 
Location: The City
18,535 posts, read 14,586,865 times
Reputation: 5284
Quote:
Originally Posted by rotodome View Post
Every time a new office tower get built (with a special sweetheart tax deal included to lure in anchor tenants of course), it just sucks tenants out of other towers, and the emptied-out space in the old (and sometimes not-so-old) towers gets turned into hotel space and condos (complete with their own tax abatements, likely). Seems really counter-productive, although I guess to some it gives the illusion of "growth".
I don't know how long this stuff can go on without either a) the city actually attracting large companies from out of town to anchor new buildings, or b) something happens to foster the creation and substantial growth of homegrown startups.

If they're going to keep creating more and more of these piecemeal low-tax zones building by building to ultimately just suck tenants from across town, minimizing any potential positive impact on the city's tax base, it seems like it should be a no brainer to reform the entire city's tax code to try to do the same thing regionally..or even nationally.
And yet.
Yep

Though to be fair the research generated from the university is spurring some growth. More than 2 million sq ft of new research space is being built as we speak. But agree with the general sentiment

City Council is also a deterrant to real growth sadly
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Old 04-29-2012, 01:10 PM
 
Location: NYC
2,581 posts, read 1,890,061 times
Reputation: 1432
Quote:
Originally Posted by kidphilly View Post
Yep

Though to be fair the research generated from the university is spurring some growth. More than 2 million sq ft of new research space is being built as we speak. But agree with the general sentiment

City Council is also a deterrant to real growth sadly
Don't even get me started on the higher education bubble!
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Old 04-30-2012, 11:43 AM
 
Location: The City
18,535 posts, read 14,586,865 times
Reputation: 5284
Might be far fetched but sort of an interesting idea


Vessel in a Ruin: Caryn Kunkle and Matthew Baird Reimagine North Philadelphia - YouTube#!
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Old 04-30-2012, 12:25 PM
 
Location: The City
18,535 posts, read 14,586,865 times
Reputation: 5284
Energy Transfer Partners to buy Sunoco for $5.3B | Biz Beat Blog | dallasnews.com

PhillyDeals: Sunoco's demise a 'Gothic tale' 100 years in the making - Philly.com


While maybe not surprising just one more thing; another F500 bites the dust in Philly

2 in the last 6 months with Cephalon - though at least Cephalon will retain most activities and jobs in the area
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Old 04-30-2012, 12:48 PM
 
Location: West Cedar Park, Philadelphia
1,223 posts, read 1,154,755 times
Reputation: 668
Quote:
Originally Posted by kidphilly View Post
Energy Transfer Partners to buy Sunoco for $5.3B | Biz Beat Blog | dallasnews.com

PhillyDeals: Sunoco's demise a 'Gothic tale' 100 years in the making - Philly.com


While maybe not surprising just one more thing; another F500 bites the dust in Philly

2 in the last 6 months with Cephalon - though at least Cephalon will retain most activities and jobs in the area
Yeah, its sad but you had to see it coming. Sunoco was an industry from a different age. You have to expect the paradigm to change sometime.
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Old 05-02-2012, 07:58 AM
 
Location: The City
18,535 posts, read 14,586,865 times
Reputation: 5284
W Hotel planned for Chestnut Street
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Old 05-04-2012, 11:04 AM
 
Location: The City
18,535 posts, read 14,586,865 times
Reputation: 5284
25 plus story residential building at 1919 walnut? (Roto; yes office space might be better)

OMEGA Commercial Real Estate, Inc. (610) 616-4604

Rendering expanded from the original 12 story incarnation

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Old 05-04-2012, 11:16 AM
 
Location: The City
18,535 posts, read 14,586,865 times
Reputation: 5284
View from 33rd St., same as above

The student tower, at 32nd St.




Chestnut Square Will Radically Alter the Southeastern Edge of Drexel’s Campus | NakedPhilly
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Old 05-04-2012, 12:18 PM
 
Location: NYC
2,581 posts, read 1,890,061 times
Reputation: 1432
Quote:
Originally Posted by kidphilly View Post
25 plus story residential building at 1919 walnut? (Roto; yes office space might be better)

OMEGA Commercial Real Estate, Inc. (610) 616-4604

Rendering expanded from the original 12 story incarnation
It's not that I think building new office space is better per se. There's nothing wrong with new residential.
What I think is bad is building new office towers when there is no real demand for them, which just empties out other already-occupied office towers to fill the new ones at a lower tax rate. That's been the story with nearly all of Philly's new office towers.
It would be great if Philly was building new office towers to accommodate new job growth, but that's not really the situation.
Right now at least, there's more demonstrated residential growth in CC.
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Old 05-07-2012, 11:20 AM
 
1,096 posts, read 1,690,692 times
Reputation: 238
Quote:
Originally Posted by kidphilly View Post
Energy Transfer Partners to buy Sunoco for $5.3B | Biz Beat Blog | dallasnews.com

PhillyDeals: Sunoco's demise a 'Gothic tale' 100 years in the making - Philly.com


While maybe not surprising just one more thing; another F500 bites the dust in Philly

2 in the last 6 months with Cephalon - though at least Cephalon will retain most activities and jobs in the area
What do you guys mean about Sunoco? It is still at F500 company hq-ed in Philadelphia right? It just exited the oil refinery business that they were doing in Philadelphia (is that the one that Delta airlines picked up?), correct?
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