PlanPhilly

Real Estate Development

    • Municipal Services Building | Michael Klusek, EOTS Flickr Group

Ballot Question: Should Philadelphia have a Community Reinvestment Commission?

On Tuesday voters will decide whether they like the sound of amending the city’s charter to create the Philadelphia Community Reinvestment Commission. This new commission is the brainchild of City Council…

    • PlanPhilly tour w/ NKCDC enters Orinoka site April 2017

Site Visit: Orinoka Civic House and walking tour with NKCDC

Last Friday, PlanPhilly readers got a first look at the nearly complete Orinoka Civic House, the mixed-use, affordable housing development and soon-to-be home for New Kensington CDC (NKCDC). Orinoka Civic…

    • Rendering of Faith and Liberty Discovery Center, SaylorGregg. | May 2017 Art Commission

Faith and Liberty Discovery Center gets initial blessing from Art Commission

Independence Mall is beset by monstrously large buildings that offer no succor to tourists or to human beings of any description. Come for the Liberty Bell stay for, well, maybe the…

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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 Philadelphia is often seen as a city that has outdated local controls, which in turn delays the development approval process.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

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