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Discussion in 'Fairmount / Spring Garden / Francisville' started by mixiboi, May 13, 2016.
Hidden in the Divine news:
Developer to honor Divine Lorraine's hotel heritage
A somewhat modified version of Blatstein's original proposal to do a retail podium in the dead space in front his apartment tower is up on Salove's website. It would appear that while the CVS is locked in (big surprise), there's still some flexibility with the remaining spaces. I suppose it's too much to hope for a grocery store? http://www.mscretail.com/wp-content/uploads/2016/09/Broad-and-Spring-Garden-Streets-Brochure_sm1.pdf
a small market would be a good fit for one of these smaller spaces
Spring Garden and Broad finally filling in...
I won't be happy until both the damned surface lots on the north corners are built on.
I hope they aren’t planning on a suburban-style super Wawa w/ gas station.
No, the lot isn't big enough for that, plus its sharing a building with BoA...
Perhaps not a full blown store but it is big enough to make a pretty decent abomination similar to the northeast corner of Broad and Girard.
Wawa may have company
Over 500k of new office space at Broad and Spring Garden?
Who's going to pay the $40 per square foot that new construction warrants? I have my doubts about this one.
"The developer is also banking on the building’s design with lots of glass, large floorplates, ability for exterior signage and other characteristics will lure office tenants to the site. Though there is optimism about attracting tenants to kick off the office building, there is some flexibility that allows the developer to adjust the size of the office component, even eliminate it, depending on how the market responds but that’s not the objective."
Ah the ol' magically dissapearing "Phase 2".
you have to hedge your bets but I like that someone is even bothering to test the market
There are other commercial offices right there so it's already been tested. Namely, the data center at 1500 Spring Garden which used to be used by SunGard but is now used by Netrality I believe (annex to the larger data center at 401 N Broad St).
those buildings have been there awhile
1500 Spring Garden isn't a comp for new construction. Those rents are probably in the low 20's for the office users and CBS, I'm not sure about the data center rates since that's an entirely different user with different needs.
Since a subscription is needed to read the story in the business journal here's a link to phillydotcom's take on it: Offices, apartments and shops planned for large N. Broad St. parking lot site
Hey you gotta believe, East Market Phase 2 is happening!
When they renovate the Girard building and start demoing that awful garage on the 1100 block of Chestnut then I will believe.
the former inquirer building was built in 1923 in what wa then a burgeoning part of the city, then the terminal commerce building was 1930, 1500 Spring Garden was built in 1947 and little else since at this location as the city entered long term decline. this would be the first privately built office space of any size in this stagnant submarket since 1947 as far as I can tell.
Just say it, since the City came under Democrat leadership.
Is it really that old? I guess it was reskinned. Terrible architecture nonetheless.
Starting later this year:
East Market: Stephen Girard Building - BLTa
I can't tell from the link....Office space, apartments or hotel?