PlanPhilly

Real Estate Development

    • municipal waffle | Steve Ives, EOTS Flickr Group

Developers cheer as L+I adds offices plus inspectors to equal demand from Philly’s real estate boom

For years, Philadelphia’s developers have complained and fretted about staffing at the Department of Licenses and Inspections (L+I). In 2017, the agency may finally be able to come close to giving…

    • Society Hill Acme

Lease of Society Hill's Acme extended, concluding heated community battle

Earlier this week, Alterra Property Group officially abandoned their plans for a mid-rise residential tower on the site of Society Hill's 5th Street Acme Market.  On August 30, Alterra signed an agreement…

    • Christopher Williams and Brandon Irving

In Germantown, real estate developer Ken Weinstein sees value in jumpstarting his competition

Brandon Irving and Christopher Williams are standing in front of an unpretentious, stone-clad twin on East Germantown’s Rittenhouse Street and thinking about the future. They bought the house in April for…

VIEW MORE

ABOUT REAL ESTATE DEVELOPMENT

Though it often has a negative connotation, development represents the absolutely crucial element of demand to use the urban form. Once completed, the development project ends up helping to define the built environment for future generations. Without development, there would be no city to plan. Despite the stigma often attached to it, development can meet both community needs and earn a profit when its design and program contributes to the larger urban framework.

It is important that development be regulated so that it supports the public health, safety, and welfare of a neighborhood, though this can be difficult to achieve today given the pressures facing the public sector due to rising social services needs and decreasing tax bases. Private developers often have leverage in these cases, which can lead to some unhealthy compromises that negatively affect our built environment. It is possible for development to be over-regulated, which often discourages investors from investing in particular cities. Philadelphia is often seen as a city that has outdated local controls, which in turn delays the development approval process. However, the re-zoning process currently underway by the Zoning Code Commission should go a long way in addressing this.  The goal is to set standards that encourage a balance of public good and private development.

UPCOMING EVENTS IN REAL ESTATE DEVELOPMENT

  • Oct 12, 2017
  • Nov 9, 2017
  • Dec 14, 2017
VIEW MORE

Logging in via Facebook

Log in

Subscribe to our mailing list

* indicates required
Which weekly emails would you like to receive?