new skyscraper on chestnut street (Philadelphia: sales, real estate, apartments)

[phillies2011]

been in the plans for awhile but it's apparently definitely happening now. Inga kind of rips it a new one but idk exactly how I feel about it. what do you guys think?

Changing Skyline: Planned Chestnut Street skyscraper has pedestrian design | Philadelphia Inquirer | 07/29/2011

[kidphilly]

Looks a little like 10 Rittenhouse but good see something get under way and will be an improvement for the area

[jm02]

It could be better in terms of design, so it's unfortunate an opportunity was missed to make a bolder statement on the skyline. But along with the Murano (if that can start filling up), this should provide an nice foothold to extend vibrancy to that neighborhood.

[kidphilly]

Originally Posted by jm02

It could be better in terms of design, so it's unfortunate an opportunity was missed to make a bolder statement on the skyline. But along with the Murano (if that can start filling up), this should provide an nice foothold to extend vibrancy to that neighborhood.

Plus another new residential tower on Market at the Atrium (think 21st or something) Would be nice to see actual jobs and a new building other than residential but not standing in the way of development overall

[Duderino]

I think the design is good (Inga rarely gives anything a positive review), although it's not earth-shattering (thank the NIMBYs for that). It will definitely add some more vibrancy to an already great area. My biggest complaint is that it's not replacing a surface lot; there should not be any of those in Center City.

[BPP1999]

Yes, it's really not a bad building, though I agree with above that it's not "earth-shattering." Of course, anything earth-shattering would have upset the NIMBY's and their idea of what a "green countrie towne" should be.

Anyway, I used to live on that block and I think it's great to see that dump of a building be bulldozed for this project.

[Clark Park]

I hope this gets posted on SkyscraperCity - Powered by vBulletin and also SkyscraperPage.com

[UrbanShaman]

Another unimpressive building in a city that is losing population and jobs at an alarming rate.
http://www.hirediversity.com/news/20...e_up_to_92.htm

Remember the Murano?
Murano developer sued - Philly.com

Shame really- Philadelphia has (or should say had) so much potential but the greedy crooks and the overtaxing of the remaining working/middle class in favor of the "pocket liners" will continue to drive out those who really know what the deal is.

[Duderino]

Originally Posted by UrbanShaman

Another unimpressive building in a city that is losing population and jobs at an alarming rate.
Jobless Rate Up To 9.2% - Hirediversity.com

I don't quite see how a $60 million apartment building would be "unimpressive" for any city. As I said, the design is not novel, but it's nothing short of fabulous news when there's a high-profile investment in Center City -- there's no spinning that. As for the recent slight increase in umemployment, that's a given considering the amount of recent government layoffs; one month certainly does not indicate a trend, and layoffs in higher education, for example, always occur at the beginning of each summer.

In terms of rebutting your other incorrect statements:

Philly population increase

"U.S. Census figures released this week not only show that Philadelphia has grown in population for the first time in 50 years, they also confirm that the City of Brotherly Love is still the nation's fifth-largest city."

Census: Philadelphia Still Bigger Than Phoenix - ABC News

Philly job growth

"Firms Report Increase in Employment: Responses to the Business Outlook Survey compiled by the Federal Reserve Bank of Philadelphia showed that about 22% of the firms in the region reported an increase in employment in July, up from 14% last month. The report indicated that more firms expect to increase employment over the next six months (30%) than expect to decrease employment (20%)."

Center City District / Central Philadelphia Development Corporation Of Philadelphia (http://centercityphila.org/news/2011/07/center-city-developments-july-25-2011/ - broken link)

Philly condo/apartment demand

"Condo Sales Strong: Sales of condominiums in Philadelphia in the first quarter of 2011 were stronger than in the same period in 2010, according to The Philadelphia Inquirer. Sales in the first quarter of 2010 totaled 322, compared with 370 sales in the first quarter of this year. Most of this year’s sales, 313, or 85% of the total, were sold in Center City. Nearly two-thirds (63%) sold for under $400,000."


Center City District / Central Philadelphia Development Corporation Of Philadelphia (http://centercityphila.org/news/2011/06/center-city-developments-may-31-2011/ - broken link)

"In Center City, home to an ever-growing population of young professionals, some real estate experts are putting the rental vacancy rate at 1.8 percent."

Home Economics: Philadelphia apartment vacancies dwindle as demand soars - Philly.com


Philadelphia, overall, is performing remarkably well, especially considering its track record in historic recessions/recoveries, and there are many economic indicators that give reason to believe that trend will only continue.

[Clark Park]

Originally Posted by UrbanShaman

Another unimpressive building in a city that is losing population and jobs at an alarming rate.

Philly has actually grown population-wise from 2000 - 2010.