We Buy Houses Philadelphia

Some Stats on Haddington neighborhood of West Philadelphia

cmtrealestate — Sun, 05 May 2013 12:39:19 +0000

Saw this in the Philadelphia Inquirer today. The article discusses the Haddington neighborhood of West Philadelphia. Its borders are Haverford Avenue/Girard Avenue to the north, 52nd Street to the east, Market Street to the south, and 67th Street to the most western edge of the neighborhood. Rehabbed properties sell for $80,000 to $90,000.

Zoning Board Hearing on Canal Street Entertainment Complex in Fishtown

cmtrealestate — Fri, 03 May 2013 00:03:36 +0000

A Real Estate Developer received conditional approval for its development of the Penn Treaty Village that would include a bowling-alley, concert-venue, restaurant, distillery and a Toby Keith bar located on Canal Street in the Fishtown neighborhood of Philadelphia, PA.

The project would turn the vacant Ajax Building at the corner of Delaware and Frankford into a concert venue run by Live Nation; it would be a Fillmore venue, like the former TLA on South Street. The venue’s maximum occupancy would be 3,000, and a representative of Live Nation said the group plans to hold around 65 concerts a year.

The plan includes two surface parking lots, and it would make an existing non-accessory sign on the Ajax Building permanent.

To read more of this story…

Real Estate Development Plans For West Philly

cmtrealestate — Thu, 02 May 2013 01:28:39 +0000

The proposed 24-story Drexel University dorm building at 34th and Lancaster in West Philadelphia was discussed during the Planning Commission monthly meeting. The building will contain 351 residential units, accommodating 1,361 residents, and commercial space on the ground floor. Also, it would include 89 onsite parking spaces [I recommend more onsite parking spaces for 1361 residents].

The planning and zoning processes in Philadelphia are not proceeding perfectly. The new zoning code requires real estate developments to go through a fairly rigid series of steps, and the city generally wants to avoid piecemeal amendments to the zoning maps. At the same time, the Planning Commission is performing a neighborhood-by-neighborhood remapping, which is not supposed to be complete for the next few years. To learn more…

Philadelphia City Council mulls “gentrification relief” from property taxes

cmtrealestate — Wed, 01 May 2013 02:08:22 +0000

For more than a decade Graduate Hospital area of Philadelphia, PA has been one of the city’s fast developing neighborhoods. It continues to grow with new homes and skyrocketing home prices. While half the homes are filled with newcomers in Graduate Hospital, some homes are not.

These longtime residents in fast-growing areas are considered most effected to the real estate tax changes from Philadelphia’s property tax reform. Moving from the old real estate tax system to one based on the current market value of a property could mean an enormous tax increase to a home in Graduate Hospital. To read more….

Can the Navy Yard Stand on its own as an innovation hub?

cmtrealestate — Thu, 25 Apr 2013 00:06:02 +0000

More people are working in the Navy Yard (South Philly) then ever before. A Plan was developed to make the Navy Yard “a place for innovation”. To attracted companies and start-ups in physical sciences, energy and engineering sectors — a way to balance Philadelphia’s strength in the life sciences sector. Some highlights from the article:

Philadelphia Navy Yard hit the 10,000 jobs milestone this January
Just under half of the businesses at the Navy Yard fall into the tech or energy industry
Room for expansion: currently, 6.5 million sq.ft. of the Navy Yard’s 20 million square feet has been developed
partnering with the University City Science Center to open “Satellite Quorum”

Old City Philadelphia Objects to 205 Race St. Project

cmtrealestate — Fri, 12 Apr 2013 00:40:41 +0000

If you are a real estate developer and you want to build a 16 story, 128 dwelling mixed used project (bigger than the zoning allows) how do build the property?

1) Apply for variances, meet with the local community groups, and present your case to the Zoning Board of Adjustment

2) Or you can just avoid all that and just ask your Councilperson to change the zoning.

The actual real estate developers of this proposed development in Old City Philadelphia chose #2. Councilman Mark Squilla introduced a bill that would add a “Bridge Approach Area” to the Old City zoning overlay, providing size and density bonuses to buildings on parcels between I-95, 4th Street, Race Street, and New Street. The 205 Race parcel is the one of the biggest lots in that area. To read more of this story…

Student Loan Debt Hurts Housing Market

cmtrealestate — Thu, 11 Apr 2013 02:01:40 +0000

With home prices and mortgage rates both at historic lows, it seems like the perfect time to buy. First-time home buyers usually make up over 40 percent of the home buying population, but their share has hovered at or below 30 percent recently.

WHY? Student loans are standing in the way of many first time home buyers.

As total student loan balances nearly tripled between 2004 and 2012, according to a new survey from the Federal Reserve Bank of New York. Now $1 trillion in collective student loan debt is directly affecting the housing recovery.

I guess the $100,000+ in student loans for a job that pays $30,000 a year does not make sense after all. To read more…

Developer plans 40-unit apartment complex in West Philadelphia

cmtrealestate — Tue, 09 Apr 2013 23:27:25 +0000

A real estate developer is planning to convert a 14,000 square-foot garage in West Poplar into 40 residential units. It calls for partial demolition of the building and the construction of second- and third-story additions. The building will also have 20 parking spaces, 10 bike parking spaces, recessed 1st floor entrances and a 6 foot fence. To learn more…

Revamped Germantown Plan to launch July 1st

cmtrealestate — Tue, 02 Apr 2013 01:35:09 +0000

Last year, Philadelphia’s Planning Commission staffers spent months conducting a study of the Chelten Avenue corridor, part of an effort to bring back shoppers and a better mix of businesses to the commercial district off Germantown Avenue. There was a lot of talk about property values, trash, crime, etc. What resulted was the Central Germantown Business District Beautification Plan, which took stock of the business offerings, documented problems such as nearly 22 percent vacancy in the retail district, and made 25 recommendations for everything from streetscape improvements to future zoning approaches. The only questions left were how to implement the recommendations and how to pay for it all. To read more…

DIY: THE ELEMENTS OF A GREAT OUTDOOR SPACE

cmtrealestate — Sat, 30 Mar 2013 13:08:33 +0000

Big or small, inexpensive or extravagant, your outdoor living space is an investment toward creating your own personal sanctuary. It doesn’t have to be overly complicated, the three things to include fire, water and earth (and a little shade). There are several ways in which you can use these elements to create a cozy open-air refuge to call your own.

In a recent national survey, the number one request for an outdoor room is the outdoor kitchen. Although outdoor kitchens can involve pricey, extensive projects, the idea is to extend your home’s living space into the backyard. If a built-in gas grill with all the accoutrements isn’t in the budget, a charcoal grill will cook your meals up nicely. Whether you’re serving a few or a family feast, you can find a variety of stylish outdoor dining tables and chairs to suit your needs.

To read more of this story.