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Top News in Philly Development: April 2020

Ever feel like Philly changes so fast you can’t keep up? No sweat. We’ll be bringing you our favorite articles from the month on Philly development – North, South, East, and West. See below for a roundup of all the best local articles from March news.

Real Estate Trends and Market Updates:

PREIT: Selling Fashion District Philadelphia May Be The Only Answer
Where: seekingalpha.com
What: Developer PREIT might be forced to sell its stake in the new Philadelphia Fashion District to cover its debt.

Philly offices may never be the same again as the coronavirus pandemic boosts technology disruption
Where: The Philadelphia Inquirer
What: With the Coronavirus pandemic essentially putting life on hold for millions of people, there may be an evolution in technology and the workforce moving forward as more and more employees continue to work remotely.

Philly officials announce $9M bailout to curb economic loss for small businesses
Where: KYW News Radio
What: Struggling small businesses in Philadelphia may now apply for grants and loans from the city, to assist with staying afloat during the Covid pandemic.

Philly extends property, business tax deadlines amid coronavirus pandemic
Where: Philly Voice
What: Philadelphia real estate tax deadline has been extended to April 30, while the deadline for some business taxes has been extended to July 15.

Hahnemann building’s owner stymies city’s bid to lease it for COVID-19 cases
Where: WHYY.org
What: Hahnemann Hospital’s building owner Joel Freedman establishes high financial demands for use of the space to treat COVID patients.

Business for Good: Building a Better Work Force
Where: The Philadelphia Citizen
What: Post Brothers’ Matt Pestronsk is not afraid to be vocal about harsh economic truths facing the city of Philadelphia, and instead tackles these issues head-on.

Economics in Brief: As Part of Poverty Reduction Strategy, Philadelphia Floats Basic Income Plot
Where: nextcity.org
What: The City of Philadelphia has plans to look after its citizens by unveiling a new strategy that plans to lift 100,000 residents out of poverty by as early as 2024, through a mix of stipends, adult education and training programs, childcare services, and even a basic income pilot.

Philadelphia Was Supposed To Open The First U.S. Safe Injection Site. Residents And Officials Are Pushing Back.
Where: bisnow.com
What: Philadelphia residents are leading city-wide protests against the installation of the first U.S. safe-injection site.

Historic homes in Philly can now add garage or basement apartments
Where: The Philadelphia Inquirer
What: Previously, owners of historic homes were not permitted to add garage and basement apartments to their homes. Now, that’s changing with a new law that allows Accessory Dwelling Units.

Openings and Up-and-Coming Development Projects:

Five Teams Make Short-List for Philadelphia Navy Yard Project
Where: GlobeSt.com
What: The Philadelphia Navy Yard Project has narrowed down a large list of development requests to five lucky teams.

SS United States could be relaunched as hotel and entertainment complex
Where: businesstraveller.com
What: Historic ocean liner, S.S. United States, is being considered for conversion into a hotel and entertainment complex.

The Arts and Architecture:

In Bella Vista, a Beaux Arts Gem Hides in Plain Sight
Where: Hidden City Philadelphia
What: Visit the historic and hidden gem Coroneos Building in Bella Vista to see a stunning example of renovation by innovative real estate developer and interior designer, Sandy Ward.

Do you have questions about Philly’s changing neighborhoods and real estate trends? Reach out to Christina Briglia, Realtor, anytime at 267.231.5484 or phc.christina@gmail.com.

Category: News
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