Philadelphia 2035 (York: closing, properties, business)

[UDResident]

Originally Posted by Marius Pontmercy

Has more to do with where their employees are located at this point. If its still a choice between business climate then Philadelphia will always lose out. IMO, its time to capitalize on the fact that younger professionals are staying in the city through some really aggressive pro-business legislation. Get businesses to move downtown because they'll have easy access to a well trained workforce, and also let that process be as painless as possible so they're not ready to move out again in ten years.

I agree but what's the deal with firms not relocating to or even opening office space in Philadelphia after Mayor Nutter signed that very favorable bill for financial firms into law back in April or May? I would've thought at least one would've moved into the city after that or at least a few of them would've opened up offices in the city. Did that happen and I missed it or something?

[RightonWalnut]

Toll Brothers get approval for New Market site in Society Hill... finally that hole will get filled.

Historical Commission gives conceptual go-ahead to Toll Bros. New Market project | PlanPhilly: Planning Philadelphia's Future

[Marius Pontmercy]

Originally Posted by UDResident

I agree but what's the deal with firms not relocating to or even opening office space in Philadelphia after Mayor Nutter signed that very favorable bill for financial firms into law back in April or May? I would've thought at least one would've moved into the city after that or at least a few of them would've opened up offices in the city. Did that happen and I missed it or something?

Was that ever passed?

[UDResident]

Originally Posted by Marius Pontmercy

Was that ever passed?

Yes, back in April or May. I had to go out of my way searching for it online to find that it had passed and been signed into law. http://www.grantthornton.com/staticf...0companies.pdf

[kidphilly]

^^^ Little noise and even less business thus far attracted

[Marius Pontmercy]

Give it time. I don't think things will happen overnight. Also keep in mind no major offices have left in that time period either. Given the financial climate right now and how shaky the economy is, I would think any big firm would put off any major moves for a while. When the economy does pick up, it'll be one more thing to strengthen our position.

[kidphilly]

Thanks to Summer again

View of the corner

Now, Midwood Investments & Development have come up with a plan to redevelop this corner. The concept, entitled The Italian Marketplace, involved a one story commercial development with about 30,000 sqft of retail space, along with an underground parking lot with spaces for 70 cars. Take a look at the preliminary site plan and rendering, which we imagine are very much subject to change.
Three retail spaces

Reminds us of Xfinity Live!



Tremendous Commercial Development Coming to Italian Market, But Could It Be Better? | NakedPhilly

[rotodome]

^^ Midwood seems to be really enthusiastic about investing in Philly, ever since they first bought all those properties on Walnut & Chestnut streets about 10 years ago.
As much as a lot of people complain about NYC investors coming to Philly, there have definitely been a few, like these guys and Goldman, who have been great about recognizing potential and making positive things happen, and have really helped change the face of Center City. Now moving on to South Philly?


(and this looks kinda ugly, but still...)

[Marius Pontmercy]

A one story development would really be a waste at that intersection, but I guess it'd be hard to find people who wanted to live above the Italian Market...

[rotodome]

(more)
I know that Midwood's whole thing is that they realized that Center City, just because of its physicality & layout, had a shortage of large retail commercial tenant spaces, and that's one of the reasons why so many retail tenants would choose KOP over Center City. The first thing they did on Walnut Street was to combine side-by-side lots and build additions to existing ones to make some large modern retail tenant spaces, which were somewhat lacking on what was/is CC's prime retail strip.
The current Zara & Talbots spaces on the 1700 block of Walnut were the first things they did, and those seem to have worked out really well. Seems like this Italian Market development is following with the same approach, and they've got more in the works.
Like, I didn't even know about this one: Midwood | Investment & Development which I just saw on their website.

They're actually hiring GOOD local architects for their stuff too, like Bohlin Cywinski Jackson (who also do most of the apple stores), and AOS (who also did the awesome PMA garage/sculpture garden). Pretty cool.