Philadelphia 2035 (Conshohocken: police, access, weekends)

[AJNEOA]

Originally Posted by Duderino

Actually, the job market in the Philly metro has definitely picked up over the past half year, with 1.5% growth at the metro level and 1.9% growth in the city itself (both are very solid numbers, and it's especially encouraging that the city is now growing faster job-wise than the suburbs).

Monthly News Releases

Certainly a lot of new apartment inventory is being added, but more competition is generally good for the market in terms of rental rates and quality product, and if this level of job growth remains (and there's no reason to believe at the moment that it won't), the absorption rate will be just fine, if not even faster than anticipated.

Question is around the quality of the jobs. We need good paying jobs, not just service jobs.

[Duderino]

Originally Posted by AJNEOA

Question is around the quality of the jobs. We need good paying jobs, not just service jobs.

Completely agree, and although it's a little bit harder to determine job "quality" through jobs numbers data (assuming we're talking about full-time, middle-class jobs), you can "ballpark" the salary numbers.

Using the same source I cited, of the 13,700 jobs created in Philadelphia itself over the past year, the majority (8,800) are in Education and Health Services or Professional and Business Services, which tend to be pretty solidly living wage jobs: https://www.bls.gov/news.release/union2.t04.htm. The same can also be said for the metro level.

There's also a good chunk of lower-paying leisure and hospitality jobs being created, although still not the majority. But I also find there to be a silver lining in that the boom in those jobs means that the city has truly taken off as food/dining and overnight destination, which is an important amenity for the attraction of very lucrative companies.

[AJNEOA]

Originally Posted by Duderino

Completely agree, and although it's a little bit harder to determine job "quality" through jobs numbers data (assuming we're talking about full-time, middle-class jobs), you can "ballpark" the salary numbers.

Using the same source I cited, of the 13,700 jobs created in Philadelphia itself over the past year, the majority (8,800) are in Education and Health Services or Professional and Business Services, which tend to be pretty solidly living wage jobs: https://www.bls.gov/news.release/union2.t04.htm. The same can also be said for the metro level.

There's also a good chunk of lower-paying leisure and hospitality jobs being created, although still not the majority. But I also find there to be a silver lining in that the boom in those jobs means that the city has truly taken off as food/dining and overnight destination, which is an important amenity for the attraction of very lucrative companies.

+1 Thanks for the analysis!

[kyb01]

Originally Posted by cpomp

More Residential Towers Coming Near North Broad - Philadelphia Magazine


More development on North Broad.

I'm screaming with joy!

I've been staring at that parking lot for 20 years!

Also this was part of the parcel of land that idiots(sorry, that's what I thought of them) wanted to build the new Phillies stadium years ago. What a waste that would have been...a completely useless "box" for months at a time.

Now there will PEOPLE living there.

[kyb01]

Originally Posted by AJNEOA

Does this further reduce the possibility of anything happening to the Inquirer building? Residential must be becoming saturated, especially once this gets built.

Because there had been zero development around there(I live near this new development) for SO long, I'd say "No" , it's not saturated yet.

The Inquirer Bldg situation is so tragic. It still looks great in city skyline shots with its tower.

[kyb01]

Originally Posted by cpomp

I would assume that will continue to sit. I love all the construction, but I do not think there are enough jobs to keep up with the amount of residential units going up, I hope rental prices don't tank as a result.

Maybe more(some) people, who work in 1500 Spring Garden, will bag their suburban commutes and move closer to work.

Listen up CBS10 workers/tv personalities why fight traffic conditions when you can literally roll out of bed and be at work in minutes from the Divine Lorraine, The Alexander, the new rentals going up at Broad and Callowhill and this new project.

[timeEd32]

Originally Posted by kyb01

I'm screaming with joy!

I've been staring at that parking lot for 20 years!

Also this was part of the parcel of land that idiots(sorry, that's what I thought of them) wanted to build the new Phillies stadium years ago. What a waste that would have been...a completely useless "box" for months at a time.

Now there will PEOPLE living there.

Not to derail this thread, and I really like the sports complex setup, but a downtown ballpark would have been spectacular (traffic, parking, etc. be damned). I would say that for any city (excluding football stadiums, which I agree is much closer to a useless, huge box most of the year).

[kyb01]

Originally Posted by timeEd32

Not to derail this thread, and I really like the sports complex setup, but a downtown ballpark would have been spectacular (traffic, parking, etc. be damned). I would say that for any city (excluding football stadiums, which I agree is much closer to a useless, huge box most of the year).

Take it from me, you probably would not have liked living, pretty much, across from it ( like I would have been) if it had been built at Broad and Spring Garden St. Chances are it would have forced me to move ....reluctantly. And that would have been pretty ironic since baseball is the only sport I really care about.

The initial idea, probably, was to help, what was, a somewhat sketchy area in need of help years ago. Time has proven that real development(housing!) will be the best thing instead.

I'm in the minority. I never liked the idea of a downtown ballpark. The other old idea was to put it next to Chinatown. Ugh...

[cpomp]

Offices, apartments and shops planned for large N. Broad St. parking lot site


I don't know if this has been shared, but another new building coming to N. Broad.

[kyb01]

Originally Posted by cpomp

Offices, apartments and shops planned for large N. Broad St. parking lot site


I don't know if this has been shared, but another new building coming to N. Broad.

Yeh, yeh, YEH! Did I say, "Yeh"!

Another large parking lot finally biting the dust near where I live.

Interestingly enough Parkway recently bought and renovated that lot only to decide to develop it.

Folks who use that lot will be angry(shrugs) because it gets filled with weekday commuters probably to 1500 Spring Garden. It's primarily empty on weekends.