Thursday, June 28, 2012

Philadelphia named one of the "15 Hottest Cities of the Future"

View of Center City from the Philadelphia Museum of Art

Here are a few of the reasons why:
  • Affordable Housing
  • Upbeat Arts Scene
  • Growing Population of Young People
  • Community Involvement
  • Restaurants/Shops/Galleries
There are other reasons why Business Insider chose Philly for the Top 15, but as you can see, the reasons listed above are all alive in well in Philadelphia today.

Also noted by BI, "The City of Brotherly Love has some of the best public art in the country. It's famous for its murals, which adorn buildings all around the city."

Very true.

Monday, June 25, 2012

Will 722 rental units be built next to PHL?

I guess we'll have to wait and see.

Korman Residential has had the option in place to develop this tract of land for a while now, but their original plans called for single family housing. I'm not quite sure why, but it did.

Now that the market has changed, along with the size of housing, KR is looking to build multifamily units on this 35 acre parcel. The best news is that these will not be available for purchase; they are rental units, and they shouldn't be too expensive based on their convenient location.

Why do I feel that this is good news? Because rentals are hot right now, they probably will be for the next few years, and they will get built right away. No need to find buyers, get financing, schedule walk-throughs, etc. If the plan gets approved, KR will get started and create jobs, increase city residents, and improve lives.

Although, the latest happenings are revealing argumentative details about potential issues between KR and the City of Philadelphia regarding land rights.

Let's go, Philadelphia! Approve this one, work out the kinks, and get these homes built.

Friday, June 15, 2012

Local Event: Want to learn about AVI?

What is AVI (Actual Value Initiative)?

Maybe you have heard about it, and maybe you have not. Either way, if you pay taxes in Philadelphia this free presentation will be of interest to you.

When: Tuesday, June 19th
Time: 6:30PM
Where: Free Library of Philadelphia - 705 East Cathedral Rd, Roxborough/Andorra (215-685-2552)

Stop out if you would like to learn more!

Coming Soon ... "The Circuit"

Since the 1970s, the Greater Philadelphia region has really focused on expanding its trail system for biking, jogging, etc.

The good news is that it's been working!

Fast forward 40 years and look where things are now. Our regional trail system has become so large and diverse, that Mayor Nutter has taken the initiative to condense all of our hard work into one large, expansive trail network.

Welcome to The Circuit!

250 miles of local trail work is currently in existence, with another 50 miles being constructed as we speak. The goal of The Circuit is to have a total of 750 miles connecting many parts of the tri-state area. The best news is that the cost to do so is relatively inexpensive when compared to highway funding, and the entire project could be realized within 25 years.

What do you think about Mayor Nutter's vision?

Sunday, June 3, 2012

More development proposed for the new, better-planned Delaware River Waterfront

Back when real estate was booming, so much so that builders could not put things up fast enough, there were many sleek high-rise buildings being proposed for the Delaware River Waterfront.

As things slowed down, so did many of those developers' aspirations to build (along with available financing). But things are slowly starting to come back to life again. The biggest difference is that instead of building condos (to own), developers are more focused on building apartments (to rent).

A project called the Marina View Tower, click here for some of the details of the former plan, was proposed right as the market crashed. Unfortunately, so did the plans for this new high-rise.

But all is not lost...

The same developers are back and are proposing to build a more suitable building for the current market. I'll keep you all posted as more news becomes available.