PlanPhilly

Real Estate Development

    • Cecil B. Moore Avenue just west of Broad Street by Temple University (file) | Lindsay Lazarski / WHYY

Parsing income-based definitions of gentrification

What is the opposite of gentrification? By one definition, it might be happening in a small rectangular census tract in North Philadelphia, which runs from Broad to 19th streets from Montgomery…

    • Germantown YWCA, May 2016

Redevelopment Authority seeking proposals for Germantown YWCA, again

The Philadelphia Redevelopment Authority (PRA) issued a Request For Proposals (RFP) for the Germantown YWCA on Monday, seeking a developer to rehab the unoccupied property on Germantown Avenue, which has sat…

    • 205 Race under construction, July 2016

Density bonus for mixed-income housing at work around the corner from One Water Street

PMC’s 11th-hour jockeying with the city over how to meet the density bonus it was granted for One Water Street made waves after the company chose not to include the promised…

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 Philadelphia is often seen as a city that has outdated local controls, which in turn delays the development approval process.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