PlanPhilly

Real Estate Development

    • 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…

    • The Frankford Chocolate Factory at 21st and Washington Streets is in the process of demolition.

South Philly group asks chocolate factory developer for community benefits

South Philadelphia residents are playing hardball with developer Ori Feibush over a  $100 million residential redux of the 150-year-old Frankford Chocolate Factory on Washington Avenue. The South of South Neighborhood Association…

    • The Budd Co. plant in Nicetown will hit the auction block on Oct. 4.

A Nicetown factory goes to auction

When O’Dell Brown first moved to Nicetown, 42-years ago, there was no escaping the Budd Manufacturing Company. The car, airplane, and rail parts factory looms just across the street from Brown’s…

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 Philadelphia is often seen as a city that has outdated local controls, which in turn delays the development approval process.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