Central Business District Is Headed West, Says Real Estate Analyst

 

Cira Centre against the West Philadelphia skyline | Photo: Jeff Fusco, for the Philadelphia Business Journal

Cira Centre against the West Philadelphia skyline | Photo: Jeff Fusco, for the Philadelphia Business Journal

  • Writing in the Business Journal, long time real estate advisor Glenn Blumenfeld considers the future of Philadelphia’s central business district. He feels strongly that, despite examples of continued market faith along West Market and Arch Streets, Center City rates can only climb so high without landlords initiating substantial redevelopment work to keep tenants content as technologies and business culture evolve. Once a critical mass is reached on the Schuylkill’s western bank, tenants will move on over to University City, enticed by the opportunities afforded by master planned districts like Drexel’s Innovation Neighborhood. The quality gap between such modern spaces and their aging counterparts in Center City could only then become more pronounced–the experiences of Washington DC, Boston, and even Philly itself tells us as much.
  • Theater arts group Just Act and the Germantown United CDC will split a $25,000 grant from the Pennsylvania Humanities Council that will allow the organizations to gather the stories of the neighborhood’s marginalized and, in so doing, recast them into engaged citizen planners. With the gleaning of such narratives, Just Act executive director Lisa Jo Epstein tells NewsWorks, “there’s validation, there’s affirmation, there’s identifying the ways that lived experience of people who have been left out matter.” Andy Trackman, the GUCDC head, speaks of his mission to bridge the geographic enthusiasm gap created by the very corridor they are looking to develop.
  • The Philadelphia Business Journal’s Natalie Kostelni discusses Temple University’s new $170 million library—whose renderings were released yesterday—with Craig Dykers, its lead designer. Dykers contextualizes the project within the academic traditions of ancient Athens, explaining that new technologies have reestablished the need for open, collaborative learning spaces. Recent work on North Carolina State University’s new library informed much of his team’s thinking for this similar project, yet he concedes there was some difficulty in anticipating how the design will interact with its eventual adjacent quad.
  • CBS speaks with some rather peeved residents of Fairmount who, as of last night, were still waiting for their blocks to be plowed after this weekend’s storm. “I pay my taxes just like everybody else, you know,” Karen Wernheimer told Eyewitness News. “I expect the services everybody else gets.”
About the author

Stephen Currall recently received his BA in history from Arcadia University. Before beginning doctoral studies, he is pursuing his interest in local history, specifically just how Philadelphians engage their vibrant past. Besides skimming through 18th century letters, Steve is also interested in music and travel.

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