PlanPhilly

Real Estate Development

    • A rendering of a proposed 2201 E. Somerset St. condo development submitted to Philadelphia's Civic Design Review board.

Kensington's hottest address? New homes to rise across from scene of scrapyard fire

Three months after a Kensington scrapyard erupted into a massive, four-alarm fire that inspired Elmo and enraged neighbors, a developer has won city approvals to build new homes across the street…

    • A Passyunk Square municipal complex is slated for redevelopment.

City to redevelop industrial corner of booming Passyunk Square

Philadelphia officials are looking for a developer to remake a valuable tract of city-owned land just off South Philly's thriving East Passyunk corridor.   Bounded by 11th and 12th streets, Wharton and Reed, the…

    • Rendering of Temple's proposed

City Council recalls Temple community center project

Temple University suffered a setback in City Council on Thursday when City Council President Darrell Clarke recalled a zoning bill that would have enabled the construction of a four-story preschool and…

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 Philadelphia is often seen as a city that has outdated local controls, which in turn delays the development approval process.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