In Today's Legal

Categories

Twitter Updates

    follow me on Twitter

    « Greenberg Traurig Says it is Financially Sound | Main | Fresh Ink: Inside Today's Legal »

    Wednesday, August 15, 2012

    TrackBack

    TrackBack URL for this entry:
    http://www.typepad.com/services/trackback/6a010534a0800c970c0176173f8cb9970c

    Listed below are links to weblogs that reference How Philadelphia Can Foster Development Without Speculation:

    Comments

    Shimon Guy

    Generally - a great idea!

    Greg Whedbee

    I read your blog with interest, having done commercial real estate brokerage for over 28 years and working with and for several developers during that period both in Philadelphia and throughout the Southeastern Pa area.
    As I consider your plan I think it has some merit,however I have some concerns including the following:
    •Of the 40,000 properties many are in very blighted areas that make economic viability or even break-even scenarios impossible for a developer.
    •Many if the properties on the lists are encumbered with other debt or legal and environmental issues that make it almost impossible for the developer to clear title in a timely manner even with city cooperation
    •Zoning, local neighborhood approvals and council representatives need to sign off on most projects that impact their particular area, making some uses impractical or impossible
    •A developer must do a build-to-suit to have a user in hand in order for a project to go forward without speculation. On larger projects it takes months or even years to get a new development occupied.
    •Many development or redevelopment projects require approvals and/or cooperation of other agencies, state and federal in order to move forward.

    Your blog is not without merit and stimulates thought on how to address some issues that must be addressed in order for this great city to move forward.
    Thanks

    digital options

    The economic crisis is profound and almost every sector of our every life is concerned. I think it's better to grow and be an independent city investing in the future and apparently that's the procedure this great place called Philadelphia has decided to choose.

    The comments to this entry are closed.