PlanPhilly

Real Estate Development

    • A vacant lot in North Philadelphia.

Philadelphia halts most public land sales, pending reforms

The Philadelphia Redevelopment Authority has put the brakes on a large portion of public land sales. The move follows a blistering Philadelphia Inquirer report that showed political meddling and chronic undervaluation…

    • Arts & Crafts Holding advertises 1217 Spring Garden Street as

'Spring Arts' remake dogged by tenant complaints, code violations

When Arts & Crafts Holdings bought the property at 1217 Spring Garden St. for $15.7 million in April, the Philadelphia development company pitched tenants in the aging loft building on a…

    • Rendering of new coffee shop for Dilworth Plaza

Tiny Starbucks coming to Dilworth Park

A second Starbucks is coming to Dilworth Park this spring. “From the time we opened Dilworth in 2014, we watched how people used it, we looked at things we wanted to…

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 Philadelphia is often seen as a city that has outdated local controls, which in turn delays the development approval process.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