Ouch!! That is the collective assessment of commercial developers and property owners in these still-rough post-recession times.
With city and suburban vacancy rates lingering in the double digits, the focus now is keeping tenants and luring new ones. For property owners, that means keeping up with what’s in demand – from more energy-efficient building infrastructure to work spaces that are less cubicle and confining and more free-flowing and interactive. For developers, the search for financing is still a frustrating one, meaning that new projects will require partnering.
Here’s a look at readjustment efforts of the region’s commercial real estate market.
A green park above the old Reading Viaduct train trestle north of Chinatown might be beautiful if it happens, but some neighbors fear it would be built "on the backs" of working-class people.
Changing Skyline: Revising strategies on Dela. waterfront
Philadelphia’s waterfront has shifted identity many times since William Penn first stuck his toe in the Delaware. And now it's being prepped to take on a new role - as a 21st-century lifestyle city.