PlanPhilly

Real Estate Development

    • w hotel rendering

Unanswered NID/TIF questions for hotel project at 15th and Chestnut

Neighborhood Improvement Districts (NID) typically assess an additional fee for income-producing properties in particular areas to pay for special services. Does it make sense to use the revenue stream from NID…

    • Cascia Center rendering

Senior housing proposed for new St. Rita's center on South Broad

Back in 2014, church leaders at St. Rita of Cascia, on South Broad just below Washington Avenue, unveiled a proposal for a new conference center building on the large vacant lot…

    • One Water Street

PMC submits new zoning application for One Water Street, seeks alternative height bonuses

PMC Property Group has filed a new zoning permit application for One Water Street with the Department of Licenses and Inspections. Rather than providing the 25 reduced-rate units they initially agreed…

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 Philadelphia is often seen as a city that has outdated local controls, which in turn delays the development approval process.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