PlanPhilly

Real Estate Development

    • Proposed elevation of Royal Theater's historic South Street facade incorporated into a new building | J Davis Architects

Royal redevelopment clears design hurdle

After 40 years of neglect and several false starts a path is being blazed to demolish South Street’s Royal Theater and replace it with a new mixed-use building that incorporates the…

    • City Council President Darrell Clarke addresses the concerns of Francisville residents who fear they will be priced out of their neighborhoods by developers. (Emma Lee/WHYY)

Key part of Clarke’s affordable housing gambit appears scuttled by HUD - for now

City Council President Darrell Clarke organized a press conference a year ago in which developers, labor leaders and other elected officials endorsed his initiative to build thousands more affordable homes and…

    • Broad and Washington | Passyunk Post

Blatstein plans at Broad & Washington to get nudge in Council

This may sound ridiculous, but the lot at the corner of Broad Street and Washington Avenue is the marquee vacant property in South Philadelphia. On Thursday, City Councilman Kenyatta Johnson will…

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 Philadelphia is often seen as a city that has outdated local controls, which in turn delays the development approval process.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