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Top News in Philly Development: November 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 October news.

Real Estate Trends and Market Updates:

Tenants’ rights guide: Leases

Where: Philly Inquirer
What: There’s no immediate trick to leases – you have to read the whole thing – but PA’s plain-language regulations regarding consumer contracts do make this easier.  And this article.

Philly region’s hot real estate market continued through September

Where: Philly Inquirer
What: Everyone in the Philly metro area is wondering just how long the red-hot market will last – it definitely didn’t let up in September.

Luxury Home Sales Surge 42% in the Third Quarter

Where:  Daily Record
What: Luxury home sales have skyrocketed throughout most major US metros – but not Philly.  We’ve seen a surge of luxury home sales in the suburbs as more luxury homeowners move out to the suburbs.

Philadelphia offering $20M in coronavirus relief

Where:  PA Business Report
What: Philadelphia targets $20M more in its allocation of PA’s COVID-19 small business relief funds. This is the second such distribution to small businesses in low-to-moderate income areas.

Philadelphia Zoning, Land Use, and Construction COVID-19 Update – October 2020

Where: JD Supra
What: Law firm Ballard Spahr is doing heroic work tracking complex land-use issues in Philadelphia related to COVID-19. There’s too much here to brief, but important to peruse!

How AI (artificial intelligence) is changing the real estate sector

Where:  Digital Marketing News
What:  AI is expected to make buyer, seller and agent interactions more efficient and easier as programs become even better at weeding out what people don’t want in a real estate transaction.

How Long Can Philly’s Office Market Tread Water?

Where:  Bisnow
What:  You may think the office rental market in Philly has been decimated due to Covid-19, but studies show over 50% of workers, especially young ones, want at least some time in the office. Most office closures thus far have been pre-planned and the market is notoriously long-term in nature.

Covid drives historic demand for life sciences real estate and these REITs

Where: CNBC
What: Covid has fueled a somewhat predictable spike in demand for life science (IE biotech) commercial real estate – and Philly’s the 7th biggest spot for this in the country.

Tips for buying a home in Philly’s red-hot real estate market

Where: Philly Voice
What: The market is very hot and inventory is very low – and houses are selling quickly.  Spoiler alert – plan ahead and move quickly if you’re looking to buy.

The Arts and Architecture:

We’ve Entered the Guy-Fieri-Opening-Restaurants-in-Philly Circle of Hell

Where: Foobooz
What:  A sharp opinion piece on the either awful, ok, or fantastic arrival of Guy Fieri restaurants within the city limits of Philly at the new casino opening in South Philly.  Whatever your good, bad, or neutral opinions of Mr. Fieri, it’s a fun read.

Cemeteries, Segregation, and the Funerals of Henry Jones

Where: Hidden City
What: Interesting piece humanizing the perhaps necessary practice of reinterning cemeteries farther afield for the sake of urban development.  The author delves into the case of Henry Jones, an African-American caterer from the Civil War era, whose burial met racist opposition and became the subject of a lengthy court case.

Category: News
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