March 28, 2016 |
There isn't much property available for redevelopment in and around Fitler Square. So when one of David Morgan's friends told him about a possibility on 24th Street between Spruce and Locust Streets, he was very interested. On that site, a block from the Schuylkill's banks and Carl Dranoff's 1 Riverside high-rise condominiums, Morgan will begin construction in late spring of Fitler Nine: nine four-story, 25-foot-wide townhouses on three sides of a landscaped courtyard, with parking for 18 cars beneath the greenspace.
March 14, 2016 |
Labor leader John "Johnny Doc" Dougherty says the nonunion workers pelted him with bricks, opening up a cut on his head. The nonunion bricklayers said Dougherty was the one throwing bricks, and that Dougherty hurt himself when he stumbled while advancing toward them. Responding police blamed both sides. "The situation escalated where objects where thrown at one another," an officer said. What seems beyond dispute is that an ugly confrontation took place that May weekend in 2014 at a big townhouse project in South Philadelphia, pitting Dougherty and some of his union members against nonunion workers.
March 13, 2016 |
Brian K. Friedman says he tried for more than 12 years to acquire Colonial Park West, a 96-unit townhouse apartment development in Prospect Park, before sealing the $8.725 million deal at the end of last year. The Delaware County community, built in the mid-1970s, had seen better days. Friedman, owner and president of Friedman Realty Group, an investment firm based in Gibbsboro, believed he could bring out the property's "full potential. " Despite the long wait, Friedman, who owns and manages 35 properties in Pennsylvania and South Jersey, was able to close the deal in 32 days.
February 29, 2016
Population: 15,807 (2010) Median household income: $86,082 Area: 13.5 square miles Settlements in the last three months: 43 Homes for sale: 43 Average days on market: 45 Median sale price: $299,000 Housing stock: 6,442 units; condos, townhouses, and single-family homes School district: Rose Tree Media SOURCES: U.S. Census Bureau; Barbara M. Mastronardo, Weichert Realtors, Media
February 22, 2016 |
Westfield 41 is so called because that is the percentage of the Limerick Township site on which developer Longview Property Group of Berwyn has planted 160 garden-style apartments and 32 rental townhouses. The remaining larger portion of the 37-acre location fronting Lewis Road just north of the Route 422 Expressway interchange is open space, including a scenic path that will someday be part of the Limerick Township Trail System. Longview, which has a long track record building shopping centers - Lansdowne Center, Limerick Square and Thorndale Center, among them - "understands that there is a shortage of multifamily" in this area, said Jessica Scully, president of Scully Co. of Jenkintown, which is managing Westfield 41. To meet the demand, Longview has more than a dozen multifamily projects in various stages of development, according to the company's website.
February 7, 2016
One in a continuing series spotlighting real estate markets in the region's communities. On one January Sunday, Kennett Square basked in bright sunshine and, according to the National Weather Service, a record-setting 65 degrees. It was a picture-perfect day for a visit to what is still considered "the Mushroom Capital of the World," even though there has been a lot of industry consolidation in recent years. Nursing- and rehabilitation-center giant Genesis HealthCare, with $4.4 billion in annual revenue and 90,000 employees, made 101 E. State St. its corporate headquarters in the late 1990s and has contributed to Kennett Square's growth and prosperity since.
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.