PlanPhilly

Real Estate Development

    • 2010 Wharton Zoning Hearing

Dozens pack zoning board for hearing on Feibush project at 2010 Wharton

Ori Feibush must not be totally broke. On Wednesday, he was attempting to get zoning approvals for the last property that he owns outright, a former warehouse at 20th and…

    • DVNLRN, Photo by Jeremy Marshall

Committee OKs renovations for Divine Lorraine

Eric Blumenfeld visited City Hall on Tuesday to present his plans for renovating the former Divine Lorraine Hotel on North Broad Street to the Architectural Committee of the Historical Commission. The…

    • Pearl Properties | 1906 Chestnut Boyd

Committee approves designs for new building next to Boyd Theater

The Philadelphia Historical Commission’s architecture committee voted on Tuesday to approve plans for a new commercial building on the 1900 block of Chestnut Street in Center City, in between the former…

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 Philadelphia is often seen as a city that has outdated local controls, which in turn delays the development approval process.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