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Philadephia PA : Prices, Transport, Opportunities

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Philadephia PA : Prices, Transport, Opportunities ... USA Prices

PhilPA0_zps7efd39f8.jpg

Philadelphia PA Price Trend ... update : Ph.PA / prev. chart: see post#32

Prices for average Home in Philadelphia

PH-prices-15yrs_zpsnqfhttxg.png
Chart : source

Media Home prices, Seasonal, monthly
m : --2013-- : --2014-- : --2015-- : --2016- :
J. : 145,000 : 140,500 : 140,000 : 147,000 :
F. : 145,000 : 140,000 : 138,000 : 147,000 :
M : 144,500 : 140,000 : 133,250 : 148,000 :
A : 140,000 : 139,000 : 130,000 : 148,875 :
M : 139,900 : 140,000 : 135,000 : 148,400 :
J. : 145,750 : 143,250 : 145,000 : 155,000 :
Jl : 152,300 : 150,000 : 150,000 : 159,900 :
A : 160,000 : 155,000 : 155,250 : 168,000 :
S : 165,000 : 159,000 : 154,000 :
O : 160,000 : 155,000 : 152,000 :
N : 150,900 : 150,000 : 150,000 :
D : 143,000 : 142,000 : 148,000 :

Estimated Prices for average Home in Philadelphia
Qtr / Year : Ave.Price : /SqFt : =sqft. : (see Post#46)
Dec. 2010 : $125,000 : $115/sf : 1,087 :
Dec. 2011 : $139,000 : $129/sf : 1,078 :
Dec. 2012 : $140,000 : $130/sf : 1,066 :
Dec. 2013 : $141,000 : $130/sf : 1,085 :
Q1 - 2014 : $142,000 : $131/sf : 1,084 :
Q2 - 2014 : $144,000 : $142/sf : 1,014 :
Q3 - 2014 : $155,000 : $144/sf : 1,083 // $158 / 144 : 1,097
Q4 - 2014 : $139,000 : $128/sf : 1,081 // $142 / 123 : 1,154
Q1 - 2015 : $130,000 : $125/sf : 1,040 // $133 / 120 : 1,108
Q2 - 2015 : $145,000 : $130/sf : 1,115 // $145 / 130 : 1,115
Q3 - 2015 : $155,000?
Q4 - 2015 : $150,000?
===
Qtr / Year : Ave.Price : /SqFt : =sqft. :
=========

PH-MoChart-Aug15_zpssfopvpia.png
> source
Monthly-per Charts
Ave.Price
Year- : Jan.- : Feb. : Mar. : Apr. : May : Jun. / July : Aug : Sep : Oct. : Nov : Dec :
2014 : $000 : 000 : 000 : $000 : 000 : 000 / $000 : 155 : 158 : $155 : 150 : 142 :
2015 : $140 : 138 : 133 : $130 : 135 : 145 / $150 : 155 : 000 : $000 : 000 : 000 :
2016 : $000 : 147 : 148 : $149 : 148 :
Qtr-s : ---q1 $137.0 ---- : ---q2 $136.7 ---- / ---q3: $152.+ ??
.
Per SqFt
Year- : Jan.- : Feb. : Mar. : Apr. : May : Jun. / July : Aug. : Sep. : Oct. : Nov : Dec :
2014 : $000 : 000 : 000 : $000 : 000 : 000 / $000 : 141 : 144 : $140 : 131 : 123 :
2015 : $122 : 123 : 120 : $119 : 123 : 130 / $133 : 137 : 000 : $000 : 000 : 000 :[/u
Tulia is the main source for the above : http://www.trulia.com/real_estate/Philadelphia-Pennsylvania/market-trends/

RENTALS
RENTS, Philly (Trulia)
Year- : Jan.- : Feb.- : Mar.- : April : May- : June / July- : Aug.- : Sep.- : Oct.- : Nov.- : Dec.- :
2015 : $000 : $000 : $000 : $000: 1295 : 1350 / 1395 : 1350 : 1250 : 1200 : 1200 : 1150 :

2016 : 1100 : 1100 : 1200 : 1250 : 1300 : 1350 / 1300 : 1300 : 0000 : 0000 : 0000 : 0000 :
====
> http://www.trulia.com/real_estate/Philadelphia-Pennsylvania/market-trends/


RENTALS -------- 2015 ---------- : -------- 2016 ---------- :
Mon. Penn. : Philly : PH/PA / Penn. : Philly : PH/PA /
Jan. $0000 : $0000 : 000.0% / $1214 : $1491 : 122.8%
Feb. $0000 : $0000 : 000.0% / $1220 : $1548 : 126.9%
Mar. $0000 : $0000 : 000.0% / $1222 : $1513 : 123.8%
Apr. $1205 : $1489 : 123.6% /
May $1213 : $1526 : 125.8% /
June $1233 : $1518 : 123.1% /
July $1245 : $1515 : 121.7%
Aug. $1218 : $1458 : 119.7% (summer slump?)
Sep. $1210 : $1478 : 122.1%
Oct. $1206 : $1503 : 124.7%
Nov. $1200 : $1458 : 121.5%
Dec. $1213 : $1458 : 120.2%

===
Do Philly rents decline in the summer when students leave the universities?
It seems that the pressure after summer comes in the 1BR and 2BR properties
size- : studio : - 1 Br- : - 2 BR- : - 3 BR- :
Sep : $1063 : $1,144 : $1,478 : $1,726 :
Oct. : $1038 : $1,152 : $1,503 : $1,689 :
Dec. : $0995 : $1,130 : $1,458 : $1,690 :
Jan. : $0000 : $0000 : $1,491 :
Feb. : $0000 : $0000 : $1,548 :
Mar. : $0000 : $0000 : $1,513 :
Apr. : $0000 : $0000 : $1,519 :
May : $1152 : $1,199 : $1,579 : $1,747 :

Jun. : $0000 : $0000 : $1,621 :
July : $0000 : $0000 : $1,540 :
Aug. : $0000 : $0000 : $1,518 :
Sep. : $1136 : $1202 : $1,508 : $1,689 :
===
> http://www.myapartmentmap.com/data/cities/pa/philadelphia/


The median sales price for homes in philadelphia PA for Aug 14 to Nov 14 was $149,900.
PHILADELPHIA
This represents a decline of 3.3%, or $5,100, compared to the prior quarter and a decrease of 0.1% compared to the prior year. Sales prices have appreciated 2.8% over the last 5 years in philadelphia. The average listing price for philadelphia homes for sale on Trulia was $237,867 for the week ending Nov 12, which represents an increase of 0.3%, or $791, compared to the prior week and an increase of 0.4%, or $1,041, compared to the week ending Oct 22. Average price per square foot for philadelphia PA was $144, a decrease of 0.7% compared to the same period last year. Popular neighborhoods in philadelphia include Fairmount/Art Museum, Bella Vista/ Southwark, Queen Village/ Pennsport, Northern Liberties/ Fishtown, Manayunk, and Center City East.

Compare:
DETROIT :
Average price per square foot for Detroit MI was $35, a decrease of 36.4% compared to the same period last year. The median sales price for homes in Detroit MI for Aug 14 to Nov 14 was $38,000 based on 193 home sales. Compared to the same period one year ago, the median home sales price decreased 9.8%, or $4,133

BUFFALO :
Average price per square foot for Buffalo NY was $80, an increase of 3.9% compared to the same period last year. The median sales price for homes in Buffalo NY for Aug 14 to Nov 14 was $100,000 based on 93 home sales. Compared to the same period one year ago, the median home sales price increased 0.3%, or $300, and the number of home sales decreased 77.2%.

MEMPHIS :
Average price per square foot for Memphis TN was $76, an increase of 0% compared to the same period last year. The median sales price for homes in Memphis TN for Aug 14 to Nov 14 was $114,900 based on 1,263 home sales. Compared to the same period one year ago, the median home sales price decreased 0.1%, or $100, and the number of home sales decreased 9.1%. There are currently 2,216 resale and new homes in Memphis on Trulia, including 33 open houses, as well as 838 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process.

The CBD: "Center City" etc : MAP w/close-ups : Heat-Map : Time-Scale
PhilPA_zpse1685f58.png

2 /
about_center_city_map_520_363.jpg

PhillyCC-2_zpsecp8borp.jpg

3 / Central SEPTA area - Full SEPTA Map : Subway map :
3764218.png
Philadelphia's Center City neighborhood is the business and cultural center of the city. Center City is centered on City Hall, located in Penn Square, where Broad and Market Streets intersect. Center City can be divided into three distinct sub-neighborhoods: Market East, Avenue of the Arts, and Penn Center.

Market East is the area surrounding Market Street between the Old City neighborhood and City Hall. This neighborhood began seeing activity in the mid-1800s as Old City became too crowded, and became the true business center of Philadelphia after City Hall was built. Businesses slowly began moving inward from Old City towards City Hall, and train service to the Reading Terminal provided access from outside central Philadelphia. Businesses continued moving westward to Penn Center in the mid-1900s, and Market East saw some decline. Officials tried redevelopment of the area, which saw mild success. Today, the area is a shopping and convention center.

Avenue of the Arts is the section of Broad Street just south and just north of City Hall. This part of Broad Street was named because most cultural centers and facilities in Philadelphia are located along Broad Street near City Hall. The area is the theater and performing arts center for the city, and also contains many museums.

Penn Center is the business district to the west of City Hall. The neighborhood was a run-down residential area until the Pennsylvania Railroad abandoned their small Broad Street Station. The 30th Street Station and Suburban Station were built for the Pennsylvania Railroad. The Broad Street Station was abandoned and demolished in 1953, and the above-ground railroad tracks along Market Street, known as "the Chinese Wall", were taken down. With the opening of the 30th Street Station and Suburban Station and their underground tracks, as well as the removal of the above-ground tracks, easily accessible land was opened up. Development began moving towards the stations, which made walking to work from the train stations easier for commuters coming from places in Bucks, Montgomery, and Delaware Counties.

==
Philly search on ssc :: http://forum.skyscraperpage.com/tags.php?tag=philadelphia
SkyscaperCity_Phil. :: http://www.skyscrapercity.com/showthread.php?t=1454740
Row House Guide... :: https://urbanrowhouse.wordpress.com/2009/04/01/the-philadelphia-rowhouse-manual/

GUIDE to living in Philly (locations) : http://catalog.usciences.edu/content.php?catoid=1&navoid=17

LINK to here--------- :: http://tinyurl.com/GEI-Phila : PS

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NEW BUILDINGS - Listed below

 

Comcast-bldg_zpsgwyn9fou.jpg

Comcast Innovation & Technology Center – office/hotel/retail – 59 floors – 1,121 ft

 

New Development Update - Over 10 floors

Completed Since 2013
Evo at Cira Centre South – luxury apartments/retail – 33 floors – 430 feet
2116 Chestnut – luxury apartments/retail – 34 floors – 379 feet
3601 Market – luxury apartments/retail – 28 floors – 320 feet
Morgan Hall – Temple University dormitory/retail – 27 floors – 312 feet
Penn Medicine South Tower– office/medical/research/academic – 19 floors – 302 ft
Buerger Center for Advanced Pediatric Care – medical/retail – 14 floors – 292 feet
The Summit – Drexel University Dormitory/retail – 25 floors – 279 feet
3737 Chestnut – luxury apartments/retail – 25 floors – 278 feet
Family Court Building – Government/court/municipal – 15 floors – 265 feet
Penn Medicine at Washington Square – office/retail – 18 floors – 260 feet
3737 Market – office/retail – 13 floors – 221 feet
Chestnut Square – luxury apartments/retail – 19 floors – 210 feet
The View at Montgomery – student luxury apartments/retail – 14 floors
1900 Arch – luxury apartments/commercial/retail – 14 floors
Drexel University LeBow College of Business – academic – 13 floors
2040 Market – luxury apartments/commercial/retail – 13 floors
AQ Rittenhouse – luxury apartments/retail – 12 floors

.

Looking South - with University City (West Philly) to the right

FMC9ToweratCiraCentreSouthRenderings-937

Under Construction
Comcast Innovation & Technology Center – office/hotel/retail – 59 floors – 1,121 ft
FMC Tower at Cira Centre South – office/residential/retail – 49 floors – 730 feet
500 Walnut – luxury condos/retail – 26 floors – 380 feet
Children’s Hospital of Phil. (CHOP) at 700 Schuylkill – office – 23 floors – 375 feet
1601 Vine – luxury apartments/retail – 32 floors – 370 feet
1919 Market – luxury apartments/office/commercial/retail – 29 floors – 337 feet
East Market – luxury apartments/retail – 21 floors – 281 feet
One Riverside – luxury condos – 22 floors – 260 feet
205 Race – luxury apartments/retail – 17 floors
One Water Street – luxury apartments – 16 floors
Museum Towers II – luxury apartments – 16 floors
1527 Walnut – luxury apartments/retail – 12 floors
The Study at University City – hotel/retail – 10 floors
Dalian on the Park – luxury apartments/commercial/retail – 10 floors

Site Prep
SLS International Hotel and Residences – hotel/luxury condos - 47 floors – 590 feet
W & Element by Westin – two hotels/retail – 52 floors – 582 feet
1900 Chestnut – luxury apartments/retail – 32 floors – 406 feet
Penn New Patient Pavilion – medical/research – 21 floors – 325 feet
1213 Walnut – luxury apartments/retail – 27 floors – 294 feet
2400 Market – luxury apartments/office/retail – 20 floors – 250 feet

1911 Walnut -- lux. residential tower - 51 floors -- 600 feet

=

> pg.18 / # 359

Philadelphia : Projects & Constructions

 

NEIGHBORHOODS and Walkscores : Trip-Advisor on Neighborhoods

 

Phil_Market_E-Neigh2_zpsbdea67d9.jpg

 

Focus on:

Philadelphia is a city of neighborhoods.The first area a visitor would see is probably the center of town. Native Philadelphians call it Center City. This area is broken into smaller neighborhoods, too.

There is Society Hill where all the fancy townhouses and historic dwellings meet with upscale condos and the beauty of Washington Square.

There is Washington Square West, the trendy neighborhood situated just west of Washington Square. There are smaller townhomes and luxury condominiums, but the buildings adhere to the old Philadelphia law of not going any higher than William Penn's Hat. This area has become a hotspot for bars and restaurants, especially around and along 13th street

. . .

At the heart of Center City is Market Street. There is always a lots of traffic and congestion there. But, this is a big city and that is what happens here. One of the best places in this area is theReading Terminal Market. It is a Farmer’s Market, and more --with vendors and food stands that boggle the mind, stimulate the appetite, and appeal to all your senses.

One of the newer trendier neighborhoods in Center City Philadelphia is Old City. This is the area just north of Market Street and centered along 2nd and 3rd streets. The area is home to the historic Philadelphia Locations such as the Liberty Bell and Independance Hall. Many of the older industrial buildings have been converted to luxury condos, but there is still a slightly gritty feel to the neighborhood. Used restaurant supply stores still survive amidst the numerous art galleries and chic clothing and furniture boutiques. The first Friday of each month is, not surprisingly, First Fridaywhen all the art galleries are open to the public and hordes of hipsters, suburbanites and artists stroll the streets. There are usually street performances as well that night and the neighborhood has a definite party atmosphere.

> More Neighborhoods: http://www.tripadvisor.com/Travel-g60795-s204/Philadelphia:Pennsylvania:Neighborhoods.html

 

PHILADELPHIA Walkscores /sealevel: 41ft = 12m.

Overall : WS-77 : Trans-67 : Bike-68

Neighborhood - WS

Center City E. : 98-99

Center City W. : 90-100

Schuylkill SW. :

Point Breeze-- : 81-92

University City : 70

Grays Ferry--- :

 

livinginthecenter.gif

> http://www.visitphilly.com/directions-maps/

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Employment & Transit

 

SEPTA_Regional_Rail_zpslst7xrl2.png

> Larger Map : http://en.wikipedia.org/wiki/List_of_SEPTA_Regional_Rail_stations#/media/File:SEPTA_Regional_Rail_Diagram.svg

 

PH-pubtranscommute_zps1f0a575f.png

> larger map : source:

 

Recent research suggests that job location is intimately connected to transit ridership, residential development potential and the ability to reduce family commute costs. This featured topic contains resources related to TOD and Employment with studies that range from Jobs and Sprawl to Transit and Employment.

==

> http://www.reconnectingamerica.org/resource-center/online-tools/map-room/philadelphia-employment-and-connectivity-maps/

> Median Income ------ : http://www.reconnectingamerica.org/assets/Uploads/RegionalPhiladelphiaMedianIncome.pdf

> Employment Cluster : http://www.reconnectingamerica.org/assets/Uploads/Philadelphia-Employment-Clusters.pdf

> Distance from CBD- : http://www.reconnectingamerica.org/assets/Uploads/RegionalPhiladelphiaDistancefromCBD.pdf
> Type of Station ------ : http://www.reconnectingamerica.org/assets/Uploads/RegionalPhiladelphiaStationType.pdf

 

Also : http://www.strongtowns.org/journal/2013/9/3/width-and-the-perception-of-width.html

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Line to Airport

PH-SEPTA_Airport_Line_map_svg_zps45183b2

 

FORECLOSURE Listings

 

map_homes_philly.png

 

Distress Sales resulting from bank foreclosures often represent a great way to get a fantastic deal on a home. It's not easy for the average home buyer to find these deals, because you have to keep searching to see when one comes up.

If you're the type of person who recognizes what a great deal some of these properties could represent, you will be interested to know about a new free service which automatically searches out and downloads a current list of all such properties day in and day out. When you receive this free, no obligation service, you're automatically plugged in to the most current list of Foreclosure Properties on the market, in the price range and area that interests you. You can also have access to updates of the list as new properties are added to it.

Here's how it works. You will receive a FREE report listing the current Foreclosure properties (including photos) in your desired price range and location. There is no cost for this information, and absolutely no obligation. This insider information, sent to you in an incredibly simple and efficient format, will give you a huge advantage over other buyers in the marketplace.

 

> http://www.delval-realestateinformation.com/gold_distress.asp?cty=Philadelphia&view=3

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BUILD COSTS : Will be tough to get under $100 per sf in Philly (excl. Land)

 

Historical - 2007:

Calculating the Cost Of Building a New Home - WSJ

Nov 12, 2007 - Answer: According to B4UBuild.com, which sells books on the subject of cost estimating, the average cost-per-square-foot to build a home on site is between $95 and $150.

 

(2008 Detail): source

What does it cost to build a single-family house? This all depends on many factors. If we look at the current "average" home we would have a good base upon which to build this discussion. According to the 2008 U.S. Census the size of the average home was approximately 2,520 square feet, which assumes a two-story structure with a "footprint" of approximately 24'x50'.

The building of such a home is never viewed in terms of a "DIY" project and usually requires a knowledgeable contractor, an architect, a team of subcontractors, and cooperative homeowners to get the job done in under a calendar year.

For the building of a single family home, the typical costs include:

  • According to the Craftsman Book Company a home as described above, with mid-range materials, a normal foundation with full basement, efficient doors and windows, all appliances, and "turnkey" finishing would run at an average of $295,000 to complete. This does not include acquisition of the acreage or any furnishings.
  • The above figures place this construction at a $117 per square foot cost, though national average stands at $125. This pricing structure assumes that carpenters, masons and excavators charge an average of $70 per hour, electricians between $65 to $85 per hour, painters between $20 and $35 per hour and plumbers between $45 and $65 per hour.
  • This home has $146,454 in materials, $144,819 in labor, and also works in a budget of roughly $5200 for machine costs as well.

 

PH-cost-Bldg_zps59c080a1.jpg

> 2013-source: http://www.staufferandsons.com/wp-content/uploads/cost-of-building-custom-home-2013.jpg

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What is your Big Idea for Philadelphia?

More Effective Transit to Nurture a Philadelphia in Renaissance

 

Slide_01sm_How+to+get+from+here+to+there

 

Philadelphia, long in decline has turned the corner in the last decade, as can be seen from renovations and new construction expanding outwards from center city. There is still a lot of work to be done in improving the quality of life in our city. In the nation’s fifth largest city, it is still possible to bicycle (or sometimes walk) from one corner of the city to another faster than any means of public transportation. What about the many who do not feel safe or cannot bicycle, how do they get around easily day to day? It is time to begin pursuing an enviable transportation future for our city.


Philadelphia has inherited from its great past many open and underused spaces: abandoned railroad right of ways, wide boulevards with excess capacity, abandoned factories and vacant lots. It is possible to string these spaces together to form right of ways for new dedicated inner city light-rail transportation in areas that are currently underserved.

This would make it easier for many to travel to and from work, shopping and save countless hours of productivity lost waiting for bus transfers. It would spur and nurture investment around new and existing transit stations. The resulting increase in investment and property values would greatly contribute to the tax base and help to fund its own construction.
==

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Three addresses

=====

1 / 1413 S 53rd St. Ph-PA 19143 : $?? : Z-$49.14k/$858/mo. (3/15)

3-BR, 1b, 1,132 (?? /Z43.4 psf), b.1925

Next to "Little Sisters"*Home, S.of 49th St Sta, Chester St.

2 / 1438 S 27th St. Ph-PA 19146 : Sold-$69.1 : Z-$45.8k/$900/mo. (3/15)

3-BR, 1b, 1,070 (64.5 /Z42.8 psf), b.1925

Dead area below Transit ? (bl/ SW Ctr City)

3 / 6111 Wheeler St. Ph-PA 19142 : $?? : Z-72.59k/$897/mo. (4/15)

3-BR, 1b, 1,092 (?? /Z66.5 psf), b.1940

==

PH-LSisters_zps77e767a6.png : 1801.jpg

 

* "Little Sisters of the Poor" : Location in Google Maps : search, G-images

The Little Sisters of the Poor arrived in Philadelphia on August 24, 1869, to respond to the needs of the elderly poor in Philadelphia at the time. Jeanne Jugan was still alive to witness this spreading of her work to the far reaches of the earth. The work of the Little Sisters began in the heart of Philadelphia at 18th and Jefferson Street. Later, it expanded to include St. Michael’s Home in Germantown, PA and Sacred Heart Home in Southwest Philadelphia

==

> http://www.littlesistersofthepoorphiladelphia.org/index.php/our-home

 

SEPTA | 49th Street Station

49th Street & Chester Avenue Philadelphia, PA 19143.

This station is served by: Media/Elwyn Line Regional Rail.

300px-49THSTR.jpg

49th Street is a railway station in the Kingsessing section of Southwest Philadelphia, Pennsylvania, on the SEPTA Media/Elwyn Line.

In 2013, this station saw 62 boardings and 52 alightings on an average weekday.

Located at 1104 S. 49th Street, on the southwest corner with Chester Avenue, the station is a sheltered shed that sits on one platform; the other platform has a ramp to the Chester Avenue bridge. The station is handicapped-accessible.

Chester Avenue carries the SEPTA Route 13 trolley, which is part of the Subway-Surface Trolley system. The trolleys use an alternate track embedded in 49th Street when the tunnels are closed.

==

> http://en.wikipedia.org/wiki/49th_Street_(SEPTA_station)

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Gentrification in Philadelphia

Everything you wanted to know but were afraid to ask.

 

By Liz Spikol | October 23, 2014 / 3 Comments

"The whole gentrification issue is really the story of the outward spread of Center City. The rest of the city is still stuck in the 1970s. I would say proximity and accessibility to Center City is not just the primary thing driving gentrification in Philadelphia, it's the only thing. The main thing that is driving it is how quickly and easily you can get to Center City, because that's where the good-paying jobs are."

 

daily-news.jpg

The DN’s special section appears in today’s print edition as well as online.

 

The seven articles that comprise “The Problems and the Promise: Gentrification in Philadelphia” is a pull-out section of the print edition and a microsite at philly.com. It illuminates the issues around the word that’s probably the most contested and least understood of any used to refer to real estate and development battles in the city.

. . .

The key takeaway is that gentrification isn't necessarily what you think. Gentrification, writes Earni Young, is "the change of a block or neighborhood from low value to high value." It's "a natural phenomena that has been with us since Benjamin Franklin," Temple professor Carolyn Adams tells Young, who notes that "Kensington and Fishtown, for example, were traditionally blue collar white neighborhoods. And in San Francisco white middle class professionals are being shoved aside by higher income earners in the tech industry." Of course, San Francisco is overwhelmingly white.

 

Philadelphia is the 9th most racially segregated metro area in America. That makes gentrification here seem inextricably linked to race. The actual inextricable link is class, and that's tough in this town too, because, as Young writes, Philadelphia is "one of the poorest U.S. cities, with 26.9 percent of residents deemed poor by federal standards."

 

But gentrification isn't taking its toll on homeowners who live below the poverty line.

My guess is that Adams is referring primarily to homeowners here. The story is quite different for renters, especially those who rely on public assistance. Higher rents, more than anything, seems to be what changes a neighborhood's population and identity

 

[T]he economic pressures created by rising home values and higher taxes feed the fears that longtime homeowners will be forced to sell because they can no longer afford to stay.

But Adams says there is little direct displacement due to gentrification.

"When housing specialists use that term, they really aren't talking about displacing people," she said. "They are talking about market pricing that makes it impossible for people who are looking to move into that neighborhood who cannot find an affordable unit. That really is more the dynamic of gentrification now."

==

> MORE: http://www.phillymag.com/property/2014/10/23/gentrification-in-philadelphia/#v6oiYr3y5H5phWUR.99

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The issues that can divide a changing neighborhood
By Earni Young

Alda Ballard has lived in her Catharine Street brownstone since buying it with her husband in 1980 for $20,000. She's lived in the neighborhood for 70 years.

Like many Philadelphians, Ballard clings tenaciously to her memories of her Center City West neighborhood in its heyday, before things went bad, when houses became empty shells that eventually collapsed or were torn down to be replaced by lots overflowing with trash.

That period was bad, to be sure, but now her neighborhood is experiencing another wave that troubles her: an influx of new people who are younger, wealthier — and whiter.

For the past few years, people have been offering to buy her seven-bedroom brownstone. She feels besieged by strangers who view her home as a valuable commodity and her presence as a nuisance.

"They are always knocking on my door telling me they want to buy my house," she said. "Well, I am not selling."

The same goes for the several rental properties that she owns in the area. "I keep my rents low, nothing higher than $850. It's not easy with the tax increases, but you do the best you can."

It is part of her effort to provide a place in the neighborhood for black tenants who don't earn enough to pay more.

Ballard is not worried about having to move for now. But in neighborhoods all around the city, longtime residents express fear of being forced out of their homes as waves of wealthier residents move in and spur property values to rise dramatically — a process known as gentrification.

 

Those who study property values and other trends believe it is an established reality in neighborhoods like lower North Philadelphia, Francisville, Northern Liberties, Fishtown, Kensington, Fairmount, Center City West, Hawthorne, University City, Point Breeze and Grays Ferry, to name a few.

Home-sale prices in these neighborhoods, which circle the city's central business district, have skyrocketed since 2000. Some momentum was lost during the recession, but sale prices resumed their steady climb in 2010.

 

Gentrification is not new, of course. The change of a block or neighborhood from low value to high value, is "a natural phenomena that has been with us since Benjamin Franklin," said Carolyn Adams, a professor in the Department of Geography and Urban Studies at Temple University.

Also the neighborhoods affected by gentrification aren't always black. Kensington and Fishtown, for example, were traditionally blue collar white neighborhoods. And in San Francisco white middle class professionals are being shoved aside by higher income earners in the tech industry.

 

For the last half of the 20th century, many parts of Philadelphia were on a downward spiral as the city lost population and business.

Now, the tables have turned. The city's population is on the rise, growing by 58,897 to 1,547,607 from 2006 to 2012, according to the most recent census estimates.

 

Many of these newcomers are choosing to live in Center City and nearby neighborhoods that offer quick access to job centers. Although the collapse of the real-estate market and the recession slowed development, the pace is picking up now that the economy is on the mend.

Despite concerns over gentrification, the city can't afford to slow development. So, it must find ways to encourage growth while protecting long-term homeowners and creating neighborhoods that are economically and racially diverse.

It might be easier to achieve world peace.

 

Philadelphia is ranked as the ninth most racially segregated metro area in America based on an analysis of the 2010 Census. Many Philadelphians live in neighborhoods where a single racial group represents 75 percent or more of the population.

It also is one of the poorest cities, with 26.9 percent of residents deemed poor by federal standards.

While population is on the rise, homeownership is declining, dropping to 52.2 percent from 59.3 percent.

Thirty-eight percent of homeowners earn less than $35,000; and 40 percent of homeowners do not have a mortgage.

==

> MORE: http://www.philly.com/philly/news/Gentrification_in_Philadelphia.html

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810 S 3RD ST | PHILADELPHIA, PA 19147

3 bed | 1 full bath | 0 sqft | Condo/Townhouse

810 S 3rd. St. ph-PA 19147 : Sold-$510k : Z-$493.6k/$1828/mo. (3/15)

3-BR, 1b, 1,670 ($305 /Z295.6 psf), b.1829

Beautiful three bedroom circa 1829 home within the Meredith Catchment Area in sought after Queen Village. This home has four fireplaces and is full of original details and character. The random width hardwood floors are believed to be Carolina Pine. The separate living room and dining room both have fireplaces with King of Prussia Blue Marble Mantles and high ceilings. The newly remodeled fully equipped kitchen has granite tops, a subway tile back splash, recessed lighting, a tile floor and a picture window that overlooks the lovely garden. The second level has two spacious bedrooms with fireplaces, the mantles are believed to be Clean Sap Pine. The large remodeled bathroom has a Jacuzzi Tub, tiled shower, and a towel warmer. The third floor has a nice sized bedroom with a large closet and an additional bonus room. This property goes street to street. There is a large garden and room for parking behind the home.

= > http://www.kw.com/homes-for-sale/19147/PA/PHILADELPHIA/810-S-3RD-ST/3yd-TRENDPA-6487639.html

County: PHILADELPHIA

Property Type: Condo/Townhouse

Subdivision: QUEEN VILLAGE

Annual Taxes: $5,197

Year Built: 1829

==========

 

Pronounced Seasonality

 

Philadelphia PA Price Trend ... update

PHPA-graph_zpse8ef65bf.png

 

The median sales price for homes in philadelphia PA for Aug 14 to Nov 14 was $149,900.

PHILADELPHIA

This represents a decline of 3.3%, or $5,100, compared to the prior quarter and a decrease of 0.1% compared to the prior year. Sales prices have appreciated 2.8% over the last 5 years in philadelphia. The average listing price for philadelphia homes for sale on Trulia was $237,867 for the week ending Nov 12,

 

MEMPHIS :

Average price per square foot for Memphis TN was $76, an increase of 0% compared to the same period last year. The median sales price for homes in Memphis TN for Aug 14 to Nov 14 was $114,900 based on 1,263 home sales. Compared to the same period one year ago, the median home sales price decreased 0.1%, or $100, and the number of home sales decreased 9.1%. There are currently 2,216 resale and new homes in Memphis on Trulia, including 33 open houses, as well as 838 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process.

 

Memphis is even more pronounced

AB_zps1f895074.png

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VIDEOS - Showing Philadelphia

 

Center City Philadelphia & More

https://www.youtube.com/watch?v=P3qaBn6cZPk

 

West Philadelphia Bicycle Ride

https://www.youtube.com/watch?v=oNttsES0mw8

Published on Feb 6, 2013

This is my daily commute from my place in West Philly to work. The video encompasses several things common in west philly -- drivers turning on a red light, detritus on the road, various vehicles parked in the bike lane, and crazy busses.

 

El Ride through North Philly to Girard Station 06/25/2010

https://www.youtube.com/watch?v=kqDkGUon60Y

 

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MODES of Transport - what do they look like ?

 

SEPTA-signs-market-frankford-line-1_zpsc

==

PH-30th_st_station_zpsa0f25a68.jpg : Phl_30th_Street_Station_zpsb509538c.jpg

30th Street Station - a key center point of transport

 

 

PRR_LC_30th.jpg

30th Street Station

 

mqdefault.jpg

 

+ Market-Frankfort Line (main E-W line)

+ Broad Street Line (main N-S line)

+ Regional Rail, North: various

+ Regional Rail, South: Elwyn, Newark, Airport

+ Trolley Lines

+ Buses

+ Norristown High Speed Line

+ CCT Connect

...

Phil-30thSt-Amtrac_zpsd009d4b8.jpg

 

S6300669.jpg

 

Jefferson Station is served by all Regional Rail lines except the limited-service Cynwyd Line, which terminates at Suburban Station. In FY 2005, the average total weekday boardings at this station was 11,848, making it the second busiest station in the Regional Rail system. Jefferson Station has also been identified as Amtrak's preferred Philadelphia station for future high-speed rail lines in the Northeastern Corridor.

Intermodal Connections

 

Phil-Jeff-sta_zpsaf9bd65d.png

 

The station is connected underground to SEPTA's heavy rail Market-Frankford Line and Broad-Ridge Spur and also the PATCO High Speed Line at their shared 8th Street station. There are also below-ground pedestrian connections to the Market-Frankford Line's 11th Street, 13th Street, and15th Street stations. Jefferson Station is adjacent to various SEPTA and New Jersey Transit bus routes that travel on Market Street. Finally, the Philadelphia Greyhound Terminal is immediately north of the station across Filbert Street.

==

> http://en.wikipedia.org/wiki/Jefferson_Station_%28Philadelphia%29

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WHAT's a "STRONG TOWN"?

 

MP3 : http://shoutengine.com/StrongTownsPodcast/StrongTownsPodcast-0197-strength-test-5218.mp3

 

"We need to leave flexibility for the future..."

Considering what really works

 

The Engineers (from S.T. org) can save us, by helping us to see that present Zoning codes

and planning is NOT WORKING.

 

We need to reconsider what really makes a neighborhood a place that people want to live in

 

> More : http://www.strongtowns.org/journal/2014/11/15/strong-towns-strength-test

: from http://strongtowns.org

 

Here are ten simple questions we call the Strong Towns Strength Test. A Strong Town should be able to answer “yes” to each of these questions.

  1. Take a photo of your main street at midday. Does the picture show more people than cars?

  2. If there were a revolution in your town, would people instinctively know where to gather to participate?

  3. Imagine your favorite street in town didn’t exist. Could it be built today if the construction had to follow your local rules?

  4. Is an owner of a single family home able to get permission to add a small rental unit onto their property without any real hassle?

  5. If your largest employer left town, are you confident the city would survive?

  6. Is it safe for children to walk or bike to school and many of their other activities without adult supervision?

  7. Are there neighborhoods where three generations of a family could reasonably find a place to live, all within walking distance of each other?

  8. If you wanted to eat only locally-produced food for a month, could you?

  9. Before building or accepting new infrastructure, does the local government clearly identify how future generations will afford to maintain it?

  10. Does the city government spend no more than 10% of its locally-generated revenue on debt service?

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Is SEPTA’s Market East becoming ‘Jefferson Station’?

It wouldn't be the transit agency's first foray into selling station naming-rights — and it might not be the last. Is this SEPTA's new map?

jeffstation.jpg

 

A tipster sent us the above photo of a printed-up SEPTA transit map.

What’s new? Market East has been replaced with “Jefferson Station,” complete with the new logo of nearby Thomas Jefferson University.

“It’s nothing we are ready or able to talk about publicly,” SEPTA spokeswoman Jerri Williams told Technical.ly Philly.

It wouldn’t be the transit agency’s first foray into selling station naming-rights. And it might not be the last.

“We’re definitely open to those discussions,” Williams said, adding that selling naming rights is a revenue stream benefiting SEPTA’s bottom line.

A five-year, $5 million deal that turned Pattison Station into AT&T Stationnetted SEPTA $3.4 million, with the remainder going to transit advertising firm Titan, according to news reports in 2010. That deal is up for renewal next year.

Of course, “Jefferson Station” could be another false alarm. Whether a deal has been finalized or these maps are merely mockups is unclear.

In June, Philadelphia City Paper reported that Suburban Station might soon become “Verizon Station.”

> Aug. 2014 : http://technical.ly/philly/2014/08/26/septa-market-east-becoming-jefferson-station/

 

20140905_jeff_1024.jpg

 

Thomas Jefferson University Hospitals will pay $4 million for a five-year deal to put the Jefferson name on SEPTA's Market East commuter rail station in Center City.

For an extra $3.4 million, Jefferson can keep the naming rights for an additional four years - a decision it will make at the end of its initial term.

SEPTA will get 85 percent of the money, and its New York-based advertising agency, Titan Worldwide, will get 15 percent, officials said.

The new Jefferson Station name was unveiled in ceremonies Thursday morning at the 30-year-old subterranean rail hub.

Stephen Klasko, president and CEO of Thomas Jefferson University and Jefferson Health System, said the name would raise Jefferson's presence in the region and demonstrate its desire "to provide access to everyone."

Jefferson, the hospital, is just two blocks south of the station.

Thomas Jefferson, the person, wrote the Declaration of Independence four blocks east, at Seventh and Market Streets. His iconic silhouette is featured on the train station marquee, as it is on the hospital signs.

Jefferson Health System will position shuttle buses on 10th Street between Market and Filbert Streets to transport patients from the train station to the hospital, Klasko said.

SEPTA will use the Jefferson money to make customer improvements at the station, including upgrading entrances and restrooms, SEPTA assistant general manager Fran Kelly said.

=

> http://articles.philly.com/2014-09-06/news/53606289_1_pattison-station-jerri-williams-septa

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HOME Prices in London Surpass Hong Kong - SCMP Headline

.

==========: US$/SF : %Lon.: F/X : Lcl-FX/ SF : x 10.76 (/SM)

London------ : 3,380 : 100 % : 1.57 : GBP 2,153 :

Hong Kong- : 3,290 : 97.3% : 7.75 : HKD 25,498 :

New York--- : 3,042 : 90.0% : 1.00 : USD 3,042 :

Sydney------ : 2,030 : 60.1% : 0.83 : AUD 2,445 :

Paris--------- : 1,860 : 55.0% : 1.24 : EUR 1,500 :

Singapore -- : 1,605 : 47.4% : 1.31 : SGD 2,102 :

Los Angeles : 1,500 : 44.4% : 1.00 : USD 1,500 :

Tokyo ------- : 1,380 : 40.8% : 119 : JPY 164,220 :

Mumbai----- : 1,225 : 36.2% :

Milan/Rome : 1,000 : 29.6% : 1.24 : EUR 0,806

OTHER Cities)

Philadelphia: $ 102 : 03.0% : 1.00 : USD$142,300/house (1400sf.Est)

Washingt.DC : $ 198 : 05.9% : 1.00 : USD$443,000/house (2237sf) almost 2X larger

Makati, Phil.- : $ 298 : 08.8% : 44.5 : PHP 13,267 : 142,750/sm

Bangkok,Th. : $ 303 : 09.0% : 32.8 : THB 09,944 : 107,000/sm

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$1.86B sale of Philadelphia Gas Works is dead
20141028_inq_pgw28z-a.JPG
The Nutter administration had hoped to sell the Philadelphia Gas Works to a Connecticut utility company for $1.86 billion.

City Council's leadership on Monday drove a spike into the proposed $1.86 billion sale of Philadelphia Gas Works without bringing the matter to a vote, apparently killing a signature effort by Mayor Nutter to reduce the city's pension-fund deficit.

 

Council President Darrell L. Clarke said Council would not hold hearings on the proposal to sell PGW to UIL Holdings Corp. of New Haven, Conn. Nutter billed the sale as a way to divest the city of a burdensome asset and raise money for its underfunded pensions.

"The simple fact of the matter is that there is not support on the City Council," Clarke said at a news conference, surrounded by the entire Council leadership. He said Council instead would schedule hearings to examine other options for the 176-year-old utility.

 

Nutter blasted Council's decision to nix a deal in which his administration invested more than two years. PGW has spent more than $2 million on financial, legal, and communications consultants to organize an auction supervised by investment bankers to attract bids from more than 30 potential buyers.

"What we saw today is the biggest cop-out in recent legislative history in Philadelphia," the mayor told reporters.

. . .

The lengthy consultants' reports, which Council released only Monday afternoon, called into question one of the Nutter administration's central assertions - that the sale was expected to net the city from $420 million to $631 million after all PGW pension and debt obligations were paid off.

 

Council said its evaluation concluded that the city would net $200 million less because the administration had not calculated the loss of the $18 million annual payment PGW makes to the city. That payment was suspended for seven years recently when the utility was in financial trouble.

The administration said that it did include the loss of the $18 million annual payment in its calculus, and that the sale proceeds were structured to offset the reduced annual payments from the larger reduction the city would need to make to its pension plan. The administration had proposed legislation to formalize that arrangement for future administrations, but Council has declined to introduce the bill.

 

Nutter said Monday the city would need to find other sources of money to reduce the pension obligation.

"Unfortunately, the only other option to generate that kind of money would be to either take it from the general fund or increase citizens' taxes," he said.

Nutter had said that it was an opportune moment to sell the utility because interest rates are low and investors are paying high prices for utilities.

==

> http://articles.philly.com/2014-10-28/news/55525996_1_concentric-energy-advisors-city-council-uil-holdings-corp

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This Is What Philadelphia Will Look Like in 15 Years

No, this isn’t a look at how Philly might advance technologically, (do you really think flying cars will be zooming down the Schuylkill Expressway in 2030?) rather, it’s a glimpse at how our germinating population (which has surely proved itself as one of the main driving forces behind all the retail projects and new constructions sprouting up), will continue to shape over the course of fifteen years.

 

screen_shot_2015-01-22_at_12.53.39_pm1.p

 

Using ever-useful “historical trends and census data”, The Urban Land Institute has developed a nifty interactive tool (you can zoom into various cities and alter data trends like birth and death rates for different outcomes) that shows us how continuing population shifts will affect us.


The results?

It's estimated that the Greater Philadelphia Area could see a 6.50 percent population increase.


Read more at http://www.phillymag.com/property/2015/01/22/philadelphia-population-growth-in-15-years-urban-land-institute/#AXvPKBkIlQ2is760.99

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US HOME OWNERSHIP : Lowest in 20 Years

 

Rising household formation owing to stronger labour market and easing of credit seen boosting home building in the year ahead

 

US homeownership fell to a 20 year low (ie. since Q3-1994) in Q4-2014.

But a sharp rebound in the rate at which Americans are setting up home, is expected to drive a pick-up in housing

 

+ The Ownership rate peaked in in 2004 at 69.4 percent, and fell to 64.3 percent at the end of 2014

 

+ Household formations were at 1.7 million in Q4-2014, up from 356,000 in Q4-2013, with gains driven by renters

 

+ Housing has lagged the acceleration in the economy, but with growing economy, and steps to ease credit, it is expected to gain

 

The combination of: a high percentage of young adults living in the parental home, falling rates, and loosening credit should

help buying demand for homes (says Paul Diggle, at Capital Economics, in London)

"We are optimistic for the next few years."

 

Residential Rental vacancy rate dropped 0.4% to 7.0% in Q4-2014, the lowest since 1993.

This will help to raise rental costs, and make home-buying more attractive.

 

"The decade long decline in the share of the population that own their home, may now be drawing to an end,"

says Diggle.

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Singapore investors seem to be finding compelling opportunities in the USA

http://www.tnp.sg/news/investors-spore-pumped-almost-15-million-troubled-us-home-scheme#sthash.sk0UNzJI

 

About 300 investors in Singapore pumped US$11 million (S$14.9 million) into CTL Global's plan to buy up distressed houses in the US.

 

The New Paper on Sunday found out after contacting Ms Clara Tan, the company's founder. Ms Tan, who is in the US, spoke via Skype from the US city of Indianapolis, in Indiana, on Feb 6, saying: "We have about 100 investors who bought property in Memphis (in the US state of Tennessee) and 200 who bought in Indianapolis. Sent using ShareThis

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Philadelphia’s New Boom

 

The city is changing dramatically, with new buildings, revitalized neighborhoods and inviting public spaces emerging all at once. Here’s an inside look at what’s behind this New Boom — and a preview of what our revitalized city will be.

BY PHILLYMAG |

MARCH 1, 2015

 

Were you here in 1987? (Actually: Were you even born?) If you were, maybe you remember the thrill of One Liberty Place rising in the sky — an honest-to-God Philadelphia skyscraper at last, looking down on Billy Penn’s hat. How about the early ’60s, when Society Hill emerged from a hardscrabble neighborhood and Penn Center gave a new sleekness to downtown?

We find ourselves in one of those moments again — a period when our physical surroundings are changing quickly and drastically around us. What’s different this time is the breadth of the change, with new buildings and revitalized neighborhoods and inviting public spaces emerging all at once all across the city. We’re calling it the New Boom, and on the following pages we give you an inside look at the eight trends that are fundamentally reshaping Philadelphia — and a sneak preview of the revitalized city we’ll live in for the next half century.

Edited by Ashley Primis Trend #1: The Public-Space Revival

From repurposed rail lines to new plazas, it’s Philly’s turn for an extreme backyard makeover. By Nicole Scott

image: http://cdn.phillymag.com/wp-content/uploads/2015/03/MO-new-boom-sister-cities-chris-sembrot-940x540.jpg

MO-new-boom-sister-cities-chris-sembrot-

Sister Cities Park near Logan Square, a well-received Center City District project. Photograph by Chris Sembrot

Who would have thought a plain old boring boardwalk — one that’s only 2,000 feet long, hovers over the brownish Schuylkill, and gives a great view of, um, I-76 — could have caused so much excitement?

Take one step on it, and you’ll get it, too — the Schuylkill Banks Boardwalk, which debuted last fall, is pretty special. For decades, many public city spaces were left to age. But in the past few years, there’s been a serious push to revive them, with civic-oriented nonprofits — Center City District, University City District and others — leading the charge.

==

> http://www.phillymag.com/articles/philadelphia-new-boom/#gIk212lpaiFcZBSL.03

Read more at http://www.phillymag.com/articles/philadelphia-new-boom/#LA4ukT146Jjqu0B7.99

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Apartment Cap Rates Reached Historic Lows in H2'14

Aug. 06, 2014

 

Multifamily Executive reports: Cap rates in the U.S. apartment sector reached historic lows in H1’14 as competition fueled the major markets, specifically in New York, Boston, Washington, Los Angeles, Northern California, and Seattle.

“There is so much capital pouring into those big six markets that even if many investors are concerned about valuations, there are plenty of investors still competing fiercely for those properties that the investors with concerns have passed on,” says Ben Thypin, Director of Market Analysis at Real Capital Analytics (RCA), a global data and analytics firm focused exclusively on commercial real estate.

Cap rates fell to 4.4% in H2’14, a percentage that equaled the historic low established in H2’06, RCA reported in US Capital Trends – Apartment 2014 Mid-Year Review. Yields for mid/high-rise properties reached 3.9%, surpassing 2013 lows. Overall, cap rates for garden and mid/high-rise properties were below 6.5% and 5%, respectively.

The report showed sales in secondary and tertiary markets posted the strongest growth; meanwhile, average and top quartile yields for garden properties in Non-Major Metros also grew.

Included in the mid-year review were H1’14 market rankings, which showed the strongest climbs from Philadelphia, Portland, and Baltimore.

View the full article on Multifamily Executive: Apartment Cap Rates Reached Historic Lows in H2'14


Articles related to this topic:
RCA-E-logo-static.gifMultifamily Financing Not Readily Available in Manhattan

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Philly Heats Up Limited supply coupled with an ever-growing renter population has rates rising and vacancies dwindling, especially in Center City.

Investors are starting to swoon again in the City of Brotherly Love.

Multifamily properties are trading at healthy numbers, and fundamentals are steadily improving as the Philadelphia apartment sector ascends out of the recession. Vacancy rates, now at 5.5 percent, are down from a recession high of 6.9 percent at year-end 2009. And rent growth has slowly but surely gained momentum since 2009, hitting 3.2 percent this year and forecasted to average 3.25 percent through 2015, according to Boston-based market research firm PPR.

==

> http://www.multifamilyexecutive.com/business-finance/transactions/philly-heats-up_o

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Four Addresses;

====

IStkzlqrj82zwb0000000000.jpg

2102 N Wanamaker St * Ph-PA 19131 : $127.5k: Z-$120.8K /+5.5%
12% @1,650/$0,000 : 2-BR, 2b, 1456 sf (87.6 / Z83.0 psf), b.1935
Lot: 1,293 sqft - M ???? : May 2006 $112.0k
12.0p : tax: $1,617

6614 Lebanon Ave. Ph-PA. 19151 : $112.5k : Z-$88.35k / +27%

3-Br, 1.5b, 1062 sf (147.3 /Z83.2 psf), b.1925

Lot: 2,412 sqft - Masonry: 9/30/13 : $24.9k (pv. 13.6, 38.0)

11.0p

 

1520 N. Conestoga St. Ph-PA 19131 $67.0k: Z-$82.6k / -19%
11.8% @850 /$907 : 3BR, 1,078sf (62.2 /Z76.6 psf), b.1916
Lot: 1,306 sqft - ??? : May 2007 : $28.0k

3116 N. 15th St. Ph-PA. 19132 : $221k : Z-$146.53k / +51%

5-units: 1br, 1br, 2br?, 2790 sf (79.2 psf /52.5 psf), b.

Lot: 3,808 sqft - Masonry: 6/8/05 : $110k (pv. 7.0, ?)

13.7p

Z: Very high rate of return investment. Entire building was completely rebuilt within 10 years. Completely rented and always a demand for rentals. Tenants pay for gas and electricity. There are 5 separate gas heaters and water heaters. All tenants are on a month to month lease. Tremendous upside with possibility of student housing with 2 students per bedroom with rents reaching up to 600/month per student. Great opportunity for student housing with a police station being built across the street.…

=== ===

 

*Nearby :

2112 N Wanamaker St
An income producing investment close to City Ave and S. Joseph's University. These is a Duplex of one bedroom each unit. Each unit has a living room and plenty of space in the kitchen for a dinning room table. One unit is occupied. Features a front yard with a garden area. Also a garage currently used as a storage. It needs some cosmetics but at that price you will not be disappointed. All separate utilities.

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March 20, 2014 | by Stephen Ives

 

52ndst_mainst-660x440.jpg

Past patriotic reminders of West Philly’s Main Street, from before SEPTA’s reconstruction of the el at 52nd Street station

 

In the heart of every city neighborhood and small town in America is a Main Street. Everyone’s back yard, picnic table, after-school hangout, Saturday mainstay. In West Philadelphia, just look down at the sidewalk medallions for confirmation: “52nd Street, West Philly’s Main Street.”

 

For decades the mile-long strip of 52nd from just north of the Market-Frankford Line south to Baltimore Avenue has been the heart of business, culture, and soul in West Philadelphia. And though its status as such has changed little since the advent of The El, its complexion has. The forces that worked to changed the social landscape of the strip decades ago are once again knocking on the door with possibilities that current tenants and residents aren’t necessarily welcoming with open arms. The “Penntrification” effect that has taken hold of much of West Philadelphia seems poised to do what once may have been unthinkable—cross the hard and fast psychological boundary of 52nd Street, a place that for me was always where ‘home’ began.

 

IMG_6423-300x199.jpg

The nexus of West Philly’s Main Street: under the el at 52nd & Market | Photo: Stephen Ives

 

Having lived in various parts of West Philadelphia for almost my entire life, I’ve watched slow but steady waves of change wash over places that for years seemed to be unchangeable. I grew up accustomed to the grit, the lack of polish, and the general types of sights that people who understand city living on only the most cursory level would expect to see. In my childhood, the red awnings and street side tables of 52nd Street weren’t a threatening hodgepodge of grifters and shady merchants. They were just part of the landscape in the same place where we made weekend stops to buy shoes and fish.

 

That place, though, doesn’t exist anymore. The Stacy Adams store with its impossible-to-miss sign is gone. Punchey’s, with its ever-present scent of shortening and trays of breaded seafood that were staples of my youth, exists only as an empty storefront and weathered sign. Indeed much of the strip now stands as painted over memories.

 

Young natives of West Philadelphia know a 52nd Street that has little difference from other commercial corridors in poorer parts of the city. There’s nothing particularly distinctive about the street beyond the volume of activity and the architectural quality of some of its buildings. There aren’t a tremendous amount of long time businesses still there, something generally indicative of the overall health of a commercial area. Having recently moved from another part of the city back to West Philly, just off of 52nd Street, I started getting reacquainted with it, and that was the first thing that that I noticed. A decade ago I lamented the loss of Big George’s Restaurant on Spruce Street, one of the few decent places in the city to get a plate of grits. What exists now—take-out delis, hair salons, convenience stores—is what fills the void left by mom and pop businesses who provided daily essentials (and non-essentials). In some cases, the replacements are arguably as bad as nothing at all.

 

IMG_6408-300x200.jpg

Bushfire, built as Locust Theatre in 1914 | Photo: Stephen Ives

 

One of the first places I noticed along 52nd Street in my first few days there was the Urban Art Gallery at Delancey Street, owned and operated by Kalphonse Morris. Plainly visible from the storefront window, the paintings inside drew my attention. Certainly a different kind of visual offering from the neighborhood standard and that was precisely what Morris had in mind when he opened the space last April—wanting to bring “beauty, culture, and a new style” to place that sorely needed it. We were both of a mind on the general state of the strip. The character that once existed had long since been paved over. With the exception of The Bushfire Theatre and Malcolm X Park, no true landmarks remain and in his opinion the landscape there now is “worth losing” if the changes at the doorstep bring entities that thrive and add vitality to the neighborhood.

 

But this potential for change obviously stirs up conflicting feelings for long time neighbors. While revived storefronts, a new assortment of businesses, and a larger base of shoppers and residents add to a place that is stagnant compared to its glory days, what then becomes of what currently is? If it’s true that so much of what made 52nd Street a distinctive place is now gone then would anything truly be washed away by the incoming tide?

 

Of course any real discussion about neighborhood growth Philadelphia is always going to have elements of race and class—the G-word—and keenly so here. The ever expanding sphere of influence that the University of Pennsylvania has in West Philadelphia has been making westward progress for as far back as I’ve been paying attention. Six-figure housing prices and overnight building renovations on blocks that haven’t seen a sheet a drywall in years tell the tale. The residents of my own building, a racial mix that certainly would not have set foot here a decade ago, are leading indicators.

 

IMG_6402-300x200.jpg

The old meets the new on Rue 52 | Photo: Stephen Ives

 

It’s a story that plays out in several different parts of Philadelphia, from Point Breeze to Kensington to Germantown. There’s always a level of discomfort felt by the people who already live and work in a place that someone from outside of their world has declared ‘the next horizon,’ and though no advertisements proclaim 52nd Street the next bountiful frontier, the sense that someday it will be hangs slight and still, but unmistakably, in the air. Some say bring it on ...

 

> continues : http://hiddencityphila.org/2014/03/the-future-of-52nd-street-from-the-inside/

 

SEPTA_Regional_Rail_zpslst7xrl2.png

> Larger Map : http://en.wikipedia.org/wiki/List_of_SEPTA_Regional_Rail_stations#/media/File:SEPTA_Regional_Rail_Diagram.svg

 

Paoli /Thorndale Line - on SEPTA
27 stops (28 w/closed 52nd st):
++ includes (Villanova, Bryn Mawr, Haverford)
: Merion
: Overbrook
: 52nd Street (closed 1980)
TO: 30th Street Station (and on to ...)
+ then, extends to Suburban Station /
TO: Jefferson Station (and on to AMTRAC)

===

Wiki:

52nd Street is a closed train station that was located at the intersection of North 52nd Street & Landsdowne Avenue[1] (just north of Lancaster Avenue [uS-30]) in the West Philadelphia section of Philadelphia, Pennsylvania, United States. It was built by the Pennsylvania Railroad (PRR) at the junction of its Main Line and its Schuylkill Branch. Today, these lines are the SEPTA Regional Rail Paoli/Thorndale Line and Cynwyd Line, respectively.

At 52nd Street, the Main Line is on an embankment at-grade, while the Schuylkill Branch is on an elevated structure including a Parker through truss spanning 388 feet (118 m) over the Main Line on an extreme skew.[2] A lit sign informed inbound passengers which platform the next train to Center City, Philadelphia would depart from. Only a few trains in each direction stopped at this station, mostly serving reverse commuters heading out to jobs in the Main Line suburbs in the morning and returning home to the city in the evening.

Through merger and bankruptcy, the station and the trains serving it passed from the PRR to the Penn Central to Conrail, which abandoned all service to the station in 1980.

 

> http://en.wikipedia.org/wiki/52nd_Street_%28Pennsylvania_Railroad_station%29

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Why Main Line high-end home sales are way down

Mar 16, 2015

 

lb99db344-m0r*304xx720-480-0-30.jpg

 

The Main Line luxury home market — those residences priced at $1.5 million and up — is down.

Prices are off by 10 percent to 15 percent, according to Berkshire Hathaway HomesServices Fox & Roach, and sales have declined by nearly 50 percent from their peak in 2006 when 81 homes priced in that echelon in Lower Merion traded.

Last year, just 43 residential properties priced at $1.5 million or more sold in that part of the Main Line, which is the heart of the community and includes such areas as Gladwyne, Bryn Mawr and Villanova.

. . .

Buyers for properties in this price range are limited but demand is also on the decline. Smaller and more efficient housing has become sought after and is likely having an effect on some sales. "Some people don't want these big homes," Gordon said.

Though economic indicators point to a strengthening economy and low interests usually lure people into the housing market, there are other forces at work including demographic shifts to renting and urban living.

 

"The re-urbanization of Philadelphia is a direct competitor to Lower Merion and the Main Line," Krauss said.

Krauss points to sales trends showing that a segment of those high-end sales have gone to Center City. In 2005 in Philadelphia County there were 32 residential transactions at $1.5 million and up. Last year, there were 65, according to Long & Foster research. Empty Nesters from the Main Line have been a driving force behind those moving and buying in the city.

Job growth hasn't been all that strong in the region and few new companies have moved in, which is also playing a part. Communities that cater to those 55 and older are also believed to be taking a portion of those high-end Main Line sales. "That is a major competitor," Krauss said.

Many 55-plus properties are priced a $1 million and less and are located throughout the region including the Main Line.

Another issue in play could also be that the Main Line tends to have older housing stock, these experts said. Some properties have become so dated they are obsolete and that has pushed prices down, especially if someone looks at a house and figures they needs to spend a certain amount to bring it up to contemporary standards.

Gordon and Krauss agree that houses in the $600,000 to $1.1 million range seem to be a sweet spot in the market with bidding wars breaking out on them and sales happening within days of a property being listed. And, even though luxury sales are off and likely will continue to slide as these trends continue, the Main Line will always have appeal.

 

> more: http://www.bizjournals.com/philadelphia/blog/real-estate/2015/03/why-main-line-high-end-home-sales-are-way-down.html?page=2

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