Blatstein Unveils Plans for Casino Complex on North Broad Street

Tonight Developer Bart Blatstein plans to unveil what many optimistic risky thinking pro-development enthusiast have been waiting for.  He will unveil plans for his proposed "world-class resort and casino complex" at the site of the former Daily News and Inquirer offices on North Broad Street.  Tower Investments will present the architectural renderings for the project tonight at Tendenza at the Piazza on 2nd Street in Northern Liberties.

Not everyone of course if celebrating.  Neighborhood associations in Callowhill and Chinatown are opposed to the casino due to concerns about the impact a casino will have on surrounding communities, whether it's traffic, parking, crime and safety, or consistent development for North Broad.  As we remember the days of Sugar House and Foxwoods Casinos and the attached opposition by many Philadelphia residents, you may wonder why Blatstein is so confident his vision will win over or soften the opinions of these passionate NIMBY's.

Many however believe like myself, that this project would be an appropriate addition to North Broad Street, given only that Blatstein is committed to fully following through with the entire expansion of the project.  I personally have a big problem with these large phased in projects like Sugar House that may potentially never see a hotel, retail, restaurants and concealed parking.  Blatstein has a unique location, much better than the Gallery Mall and Delaware Ave., supported by an avenue already boasting with development proposals and growth. North Broad street perhaps is being molded into Philadelphia's next entertainment district, opposite the theatre district with the convention center, a slew of hotel proposals, casino, emerging restaurant scene, numerous residential projects and maybe a retail sector, mending the gap between emerging neighborhoods like Fairmount, Spring Garden, Northern Liberties, Chinatown, Temple University and Lower North Philadelphia, and a sea of development potential in Callowhill.

PhillyShark will keep you updated on the release of the Development Plans.

Source: Philly.com

SEPTA on Definite Track to Install new Fare System

SEPTA is finally on track to change over its outdated fare system to a new smart card system.  The entire system is scheduled to be in full effect late fall of 2014.  As of now the project is not even close to halfway complete, but we are not complaining, any progress is good progress.

SEPTA awarded a $129.5 million contract last November to ACS Transport Solutions Group of Columbia, Md.  much of the work has been invisible, with designers and consultants drawing up plans and timetables.  SEPTA currently has a laboratory set up for testing prototypes of new fare equipment on the 18th floor of its Center City headquarters.  A hallway there is lined with poster-size sheets detailing 5,600 steps that must be completed to make the smart-card system a reality.

Work will become more visible over the next few months on the fare system and $84 million in companion projects, such as new control centers and elevator modifications.  By spring, workers will begin installing new subway turnstiles with card-reading screens that will eventually replace all of the current turnstiles that accept tokens and magnetic swipe cards.  Simultaneously SEPTA's bus fleet will be outfitted with new fare boxes that can read the smart cards.

The new system will be one of the first in the country to use an "open" fare design, allowing riders to use a contact-less bank card, instead of a "closed" system that accepts only cards issued by the transit authority.  Chip-equipped cards will also be issued for riders to use.  You will even be able to pay with certain smart phones.

Following a 30-day evaluation period, the public will begin to use the system next fall/  SEPTA first will replace half of its subway turnstiles with the new equipment, to allow riders to shift slowly from old to new.  By January 2014, all 386 new turnstiles and 121 handicapped-accessible fare gates are to be in place in subway stations and 1,852 fare boxes are to be in buses and trolleys.  At the same time more than 200 vending machines will be installed in subway stations and bus terminals to sell the new smart cards and one-day magnetic-strip tickets for occasional riders.

Source: Philly.com

Spring Garden Connector Project

Last week an RFP went out seeking a designer for the Spring Garden Connector project improvements.  The project goal is to make walking or biking from Northern Liberties to the waterfront a more pleasant experience.  Link for RFP  The connector project is part of two larger projects, the redevelopment of the Festival pier and the Spring Garden Greenway project.

The RFP will remain open for bids for four weeks, after which candidates will be interviewed.  The work will stretch from Delaware Avenue/ Columbus Boulevard to 2nd Street, with much of the project focused on the area beneath the huge I-95 overpass.  The design will have to take into consideration that the overpass is going to be redone in about five years as part of the Revive 95 project.  DRWC is hopeful that many of the elements can be stored for inspection, and then put back once the highway work is completed.

Source: PlanPhilly

The Gallery Mall's Future Just Got a Bit Brighter

Most Philadelphian's have been waiting for decades now for a downtown Mall that speaks to the shopping needs and standards of a diverse demographic of fashion conscious individuals.  They may not have to wait much longer.  The building complex is slowly changing ownership, with the exception of parcels owned by the Philadelphia Redevelopment Authority and SEPTA.  The Philadelphia Business Journal (PBJ) reported late last month that the Pennsylvania Real Estate Investment Trust is buying the 901 Market Street office building from Vornado Realty Trust.  The company will soon make an announcement about its total renovation plans for the Gallery along East Market Street.

The acquisition of the 430,000 square-foot building allows PREIT flexibility as it overhauls the Gallery  making it a potentially viable economic contributor on East Market Street.  The developer could use some space from the 901 to bolster the mall.  The overall project, including acquisition and renovation costs, is pegged at roughly $300 million.

PREIT currently owns 801 Market Street.  The company has long discussed a phased project that would transform the Gallery into a modern, upscale urban mall with more dining options and retailers that appeal to consumers who are fashion conscious and keep up with style trends.  The building would be turned inside out with storefronts overlooking Market Street. PBJ says PREIT had hoped to have started on the project last year but a launch is expected to be announced by year end.

Maybe something more like this past rendering of the City's vision

Divine Lorraine Hotel Gets Another Chance at Life

Philadelphian historians and locals alike, even politicians have developed a special place in their heart for the iconic Divine Lorraine Hotel on North Broad Street.  Many themselves have probably wished they could save her.  Well, the 11-story 118 year old building will very likely get a deserving facelift and an opportunity to usher in the 21st Century revival of North Broad Street aka. Avenue of the Arts North.

Developer Eric Blumenfeld recently acquired the building again for the second time in eight years.  He plans to convert the property into 126 rental apartment units with 25 units set aside for subsidized, affordable rate leases.  The ground floor would be used for restaurants or food outlets.  Blumenfeld said he would immediately try to finalize design plans, permits and financing for the renovation project.  The project is to cost about $43.5 million.  Blumenfeld said he already had secured more than half that amount from U.S. Bank and will seek tax-credit financing and a state grant for the rest.  He has also said he was in discussions with restauranteur Marc Vetri and Iron chef Jose Garces about taking space in the building.

The mayor says a revival of the Divine Lorraine is key to turning around North Broad Street.   Over the past few years Blumenfeld converted 640 N. Broad St. into loft apartments and  joined with another developer to redevelop 600 N. Broad and the former Wilkie Buick dealership.  He would also like to acquire the vacant land next to the Dive Lorraine to develop into a campus for public high schools.  There is no commitment for that project from the Philadelphia School District or any other parties.  The developer plans to begin renovations in 2013.

3737 Market Street Tower

Penn presbyterian Medical Center will be the future anchor tenant of another addition to the Science Center in University City.  The institution will occupy 155,700 square feet of space, allowing construction of the tower to proceed, filling in the abundance of parking lot space that dots the district.  Penn Presbyterian will located orthopedics and outpatient services in the building.  The remaining 88,000 square feet in the tower will be controlled by the Science Center and its joint venture partner, Wexford Science & Technology, and private Baltimore based real estate investment firm.

Noted in the Philadelphia Real Estate Blog, Stephen Tang, CEO and president of the Science Center, said Penn Presbyterian's expansion with the Science Center "strengthens University City's unparalleled reputation as an education and medical hub.  The project is expected to be finished in june 2014.

With the progressive expansion of Drexel University, the Science Center, and the University of Pennsylvania, University City is shaping up to becoming a ever more crucial asset to the City of Philadelphia.  The district continues to serve as and hub for education and medical research supplying all the necessary resources for an innovation cluster.  Future development needs to keep in mind balancing out the abundance of research facilities with housing, commercial and public amenities further establishing the districts identity as a desirable place to call home to both present and future companies and residents.

University of the Sciences Future Addition

A 55,000 square foot addition to the Science and Technology Center at 4306 Woodland Avenue for the University of the Sciences will soon break ground some time after Thanksgiving, and his scheduled to be completed by spring 2014.  The building will house the new Physician Assistance program.

The building itself will cost $29 million, which includes expansion of the central utility plant that will provide heating and cooling to the building.  Building a separate utility plant allows for the design to incorporate a complete green roof, serving the community and environment by minimizing the heat island effect, and capturing rain water, cutting the buildings contribution to storm water overflow.  The aesthetics of the roof and low height of the building help with blending in with the surrounding community and not appearing too obtrusive.