Amazon's Official deadline (Oct.20) now passed - Winner to be named in early in 2018?
Philly’s official Amazon HQ2 bid names University City, Navy Yard as possible sites
“We’re gonna win this” - says Mayor Kelly
The city also launched an immersive website that include the official bid, interactive maps, the three proposed sites, and all of the videos that tout Philly’s livability, talent, and logistics, with cameos from restauranteurs and entrepreneurs to Penn’s president Amy Gutmann to Comcast CEO Brian Roberts.
More than 200 local business leaders, as well as various community development groups, students, and people from all over the city participated in the creation of the bid. Although the the announcement was made six weeks ago, much of the bid process was squeezed into three weeks, said Marc Coleman of Tactile Group, which developed the website.
Amazon first broke the internet a little over a month ago when it announced that it was looking for a new place in North America for its second headquarters. It is currently located in Seattle on a 8.1-million-square-foot campus.
The requirements included a location within a North American city and metro area of more than one million people that could attract and retain tech talent. And of course, enough land to build its mega-campus.
Philly was one of the first cities to pitch itself as a “prime” location from Amazon HQ2. Over the past few weeks the city put out an open call to residents to help shape its proposal, started a social media campaign called #PhillyDelivers, and finally, published a series of videos in the final days leading up to the October 19 deadline that touted its location, transit systems, talent pool, and livability.
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Amazon HQ2 bids: The good, bad, and the totally embarrassing
Cities are thirsty for Amazon. Is that a good thing?
by Patrick Sisson / October 19
The pursuit of Amazon’s #HQ2 has been compared to an urbanist’s Super Bowl.
But as today’s final deadline for proposals has led to a flurry of activity by planners, mayors, and civic boosters, it seems more like a reality show: Lots of squirming for attention, occasional displays of desperation, and one unlikely suitor winning the rose in a over-the-top finale.
As Recode noted, anxious cities are already reading into anything tweeted out by an official Amazon account.
It’s true that Amazon has taken the entire process, including its detailed request for proposals, very seriously. The potential boon to cities, estimated to be 50,000 high-paid employees and $5 billion in investment from the retail giant, could be transformative.
But, as more than 100 cities submit bids, including all the U.S. cities Curbed covers, would landing Amazon’s second home have it own set of downsides? Seattle’s experience suggests that cities need to plan far ahead to deal with the growing pains and transit issues Amazon may bring to their neighborhoods, and studies suggest HQ2 may bring rising rents at a time when cities are already dealing with shortages of affordable housing.
Cities mentioned: Detroit, Calgary, Kansas City, Birmingham, Missouri hyper-loop, Denver, Toronto, Newark, Little Rock
> source: https://www.curbed.c...artment-housing
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How might Amazon’s HQ2 impact Philly rents?
Amazon could bring 50,000 employees to whatever city it chooses for its HQ2. What does that means for rents in Philly, a city that consistently touts its affordability?
A new report finds out.
If Amazon picks Philly to build its second headquarters, it could mean colossal changes—both good and bad—for the city, including an influx of an estimated 50,000 new jobs. But with potentially thousands of people moving to Philly, what does that means for rents in Philly, a city that consistently touts its affordability?
Rents in the Philadelphia metro will increase an additional 0.6 to 0.8 percent each year with Amazon HQ2, costing a Philly renter up to $6,506 more over the next 10 years, according to a new report released today by Apartment List. Those numbers are on top of the already 3.1 percent average baseline rent growth that Philly has experienced each year from 2005 to 2015.
Compared to the 15 other major metros that Apartment List analyzed, a 0.6 to 0.8 percent additional increase places Philly in the “moderately impacted” category. Meanwhile, fellow Pennsylvania city Pittsburgh, also in the running for Amazon HQ2, would experience a much larger rent hike, estimated at 1.2 to 1.6 percent each year.
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For Philly, the analysis found that with a vacancy of 9.0 percent, Philly is actually pretty well-equipped to handle the 50,000 Amazon employees, if you compare its current stats to other cities. Take San Jose, for example, whose average rent already rose an astonishing 57 percent between 2005 and 2015. It also has the lowest vacancy rate out of all the 15 metros studied.
Therefore, the researchers suggest that the Philly metro’s population size and high vacancy rate will prevent any extreme rent increases. But, things aren’t all perfect. The researchers caution that rents will still rise no matter what, “due to the difficulty of building in the metro.”
Historically, the metro has issued 10,882 building permits on average each year. That rate would need to increase, says Apartment List, if the metro wants to be able to handle the job growth and new Amazon folks. This finding is in line with a separate report, which found that Philly already isn’t building enough housing—affordable housing, at that—for its projected population growth.
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This report does account for potential Amazon employees opting to buy versus rent. Their expected salaries are estimated to be around $100,000 (Philly’s median household income is currently around $41,000) so they could certainly afford a downpayment a one of the homes in Philly’s market.
It’s a different story though because although the city’s rental market has a decent vacancy rate, the amount of homes for sale in Philly is at an all-time low. That means with Amazon’s influx of workers, even more people bidding to buy a home. Only, Amazon’s employees would likely be able to afford the increased home prices.