January 11, 2016 |
One might think that with his 500 Walnut high-rise starting to poke its head above the fence enclosing it at Fifth and Walnut Streets, developer Tom Scannapieco would have little else on his mind. One would be wrong. With "construction just a few weeks behind" and sales of multimillion-dollar ultra-luxury condos "ahead of schedule," the developer is going full speed ahead on what might be described as the suburban version of 500 Walnut. The Residences at Rabbit Run Creek, in Solebury Township, Bucks County, will be within walking distance of downtown New Hope, built on a 23-acre tract of second-growth forest Scannapieco bought when he saw how well nearby Waterview, his first ground-up project, went over with affluent buyers - many of whom already had two or three houses elsewhere.
January 4, 2016 |
Some developers breeze into a neighborhood, with no concern whose toes they step on. Then there's Gary A. Jonas Jr., who saw an opportunity in the Art Museum area for an apartment project but listened to the neighborhood and instead is building 10 luxury townhouses for at least $1.75 million each. His willingness to listen and then compromise has really paid off. "Even before being able to finish three of our models, five were under agreement," said Jonas, a principal in How?
September 28, 2015 |
It had been a parking lot and, before that, back in the 19th century, the story goes, there were four buildings there, one of them a store. But that was a long time ago. These days, no place in Center City and adjacent neighborhoods remains empty very long. Since midsummer, the spot in question at 22d and Lombard Streets has been a construction site for three townhouses, with foundations for all three in and ready for framing crews. The townhouse planned for the corner of South 22d and Lombard Streets is listed at $2.1 million.
September 4, 2015 |
The developer of the luxury Parke Place townhouse project in the 1300 block of Bainbridge Street has filed for Chapter 11 bankruptcy protection but says he remains "100 percent committed" to completing the work there. In an interview Wednesday, Donovan Clarke, of Clarke Real Estate Development L.L.C., of Philadelphia, attributed his decision to file for Chapter 11 reorganization to a "timing issue" with his lender. The bankruptcy follows mortgage-foreclosure actions by Clarke's original financial partner, the Dietz & Watson Defined Benefit Pension Fund for workers at the Northeast Philadelphia cold-cuts company, which resulted in listing several of the Parke Place properties for sheriff's sale.
August 3, 2015 |
Realtor Joanne Davidow makes her way up the gypsum-caked stairs of one of the three townhouses being sculpted from historic carriage houses in the 2100 block of Sansom Street. The day is a warm and humid one, but the veteran agent's enthusiasm for the interior reworking of the 19th-century building is not affected by the weather. "Look at the detail in those windows," said Davidow, vice president, sales manager, of Berkshire Hathaway Home Services Fox & Roach, as she looked at something one is more likely to find in a church than in a carriage house that had been converted to office use. A work in progress, these rehabs are just three pieces of an 11-unit townhouse project on Van Pelt Street between Sansom and Walnut that is bringing prices from $950,000 to $2.3 million, she said.
July 20, 2015 |
Three years after the fact, Sarah Peck still expresses some surprise that Arbor Heights, her first venture into the long-neglected Norristown real estate market, was as successful as it turned out. Built in 2011-12, the 12 townhouses at DeKalb and Elm Streets - a block shy of an area once known as Millionaires Row and a few blocks from the Montgomery County Courthouse - sold about as fast as they were completed, she said. In a real estate market where average prices often struggle to get above $120,000, Arbor Heights' townhouses easily averaged $135,000, and the one resale since was $20,000 higher than that, she said.
July 6, 2015 |
One in a continuing series spotlighting real estate markets in the region's communities. Even on a warm day in mid-June, a visit to New Britain Borough can be a walk in the park. In this case, Covered Bridge Park. Whether you drive up Routes 202, 309, or 611 to this Bucks County community a few miles from Doylestown, or take the train to the New Britain station and walk across Butler Avenue up Keeley Avenue, the park is well-worth the visit. With just 1.3 square miles and 3,152 residents, the borough, which is engaged in attracting more businesses and creating a walkable community, does not have much real estate activity, says Frank Dolski of Coldwell Banker Hearthside Real Estate in Lahaska, who has been selling houses there for a decade.
April 2, 2015 |
Despite persistent opposition, a large redevelopment project in Washington Township that appeared destined to remain tied up in court may be heading toward construction, after officials authorized a tax deal for the plan. An attorney for the redeveloper planning the Washington Square project said Tuesday that his client intends to move "full speed ahead" toward site plans and that two business tenants had already been secured for the mixed housing and commercial project. Last week, the township council approved a payment-in-lieu-of-taxes (PILOT)
March 16, 2015 |
One in a continuing series spotlighting real estate markets in the region's communities. If you want the scoop on Bensalem, just ask Mayor Joseph DiGirolamo, a lifelong resident of the Bucks County community just over the Philadelphia line. "When I was growing up, 75 percent of the township was produce farms," recalls the affable DiGirolamo, who ran his family's operation from age 26 until he retired at 51. "It wasn't until after World War II, and especially in the 1960s" that the township's fields filled with houses and apartment buildings, he says, somewhat nostalgically.
March 14, 2015 |
A deal in Washington Township between elected officials and school leaders may help temper opposition to a housing and commercial project initiated seven years ago. The township council approved a measure Wednesday to allocate 44 percent of the revenue from a proposed tax agreement for the Washington Square redevelopment project to the school district. Resistance to the project from residents and school officials has centered on concerns that the planned housing components and a payment-in-lieu-of-taxes (PILOT)