What We're Reading: Week of January 22, 2024

Here's what we're reading this week about the projects, people and policies driving local development:

Axios reports that Philadelphia’s office vacancy rate is lower than the average office vacancy rate nationally

🔗 Office building vacancies in Philadelphia better than national average - Axios Philadelphia

by Mike D'Onofrio, Isaac Avilucea, Jan 24, 2024

With addressing the drug markets in Kensington at the top of Mayor Parker’s first actions, NBC10 asked Kensington residents their reactions to the new mayor’s first announcements about addressing their neighborhood’s problems

🔗 Kensington residents react to Mayor Parker’s plan for community – NBC10 Philadelphia

by Hayden Mitman and Miguel Martinez-Valle, Updated Jan 4, 2024

The Philadelphia Business Journal asks three local residential real estate leaders for their predictions of the residential sales market in 2024

🔗 Philadelphia housing market experts 'cautiously optimistic' on 2024 - Philadelphia Business Journal

by Ryan Mulligan – Reporter, Philadelphia Business Journal, Jan 8, 2024

The Philadelphia Business Journal highlights a unique boutique office building for sale in Center City at 1760 Market Street, constructed in 1981 with floor plates under 10,000 SF per floor, making it flexible for residential conversion or lease to smaller commercial tenants who could have exclusive use of a single floor

🔗 1760 Market St. in Philadelphia listed for sale - Philadelphia Business Journal

by Paul Schwedelson – Reporter, Philadelphia Business Journal, Jan 25, 2024

WHYY examines Philadelphia’s plans to power a significant amount of energy in public buildings from solar farms located in upstate Pennsylvania

🔗 Philadelphia to power up to 25% of its buildings with solar energy from Adams County

by Susan Phillips, Dec 30, 2023

Bisnow looks at the rapid increase year to year in the number of new housing units being created nationally through conversion of existing office buildings, and that the median age of the buildings is creeping steadily younger, though still over 70 years old

🔗 Office-To-Apartment Conversions In Major Cities Quadruple In 4 Years

by Maddy McCarty, Jan 22, 2024

The Inquirer shows the updated rendering for Pearl Properties proposed residential tower on Jewelers Row

🔗 Updated plans released for Jewelers Row apartment tower

by Jake Blumgart, Jan 23, 2024

Axios Philadelphia reports on the opening of the first newly constructed public elementary school in North Philadelphia in 70 years

🔗 Newly built school opens in North Philadelphia - Axios Philadelphia

by Mike D'Onofrio, Jan 3, 2024

Philadelphia YIMBY shows renderings of the nearly completed Amy Guttman Hall at the University of Pennsylvania, built upon a lot that has been a parking lot that was slated for new construction for over three decades

🔗 Construction Nears Completion at Amy Gutmann Hall in UPenn in University City, West Philadelphia - Philadelphia YIMBY

by Vitali Ogorodnikov, Dec 31, 2023

CoStar reports on the largest commercial lease signed in the Philadelphia region in over a decade, a renewal of 800,000 SF in Collegeville by DOW

🔗 CoStar News - Dow Signs What May Be Philadelphia Market’s Largest Office Lease in More Than a Decade

by Mark Heschmeyer, Jan 16, 2024

Condo development is active in North Miami, included a proposed redevelopment of the collapsed Surfside site and a mixed-use development that includes a synagogue on site

🔗 Evacuated Surfside Condos Slated To Be Replaced With 10-Story Luxury Project

by Matt Wasielewski, South Florida, Jan 19, 2024

Bisnow reports on a 55-year-old, 44 story office tower in downtown Atlanta that is getting converted to 220 units of affordable rental housing

🔗 This Week's Atlanta Deal Sheet: Integral Group Chosen To Lead 2 Peachtree Housing Conversion (January 1, 2024)

by Jarred Schenke, Atlanta, Jan 18, 2024

Bisnow reports on the first steps Texas is taking towards resiliency of its infrastructure in light of changing climate conditions, as it allows connection between the state’s internal power grid and adjacent state power grids

🔗 Texas Moves To Link Its Power Grid To Other States After Heavy Property Losses 3 Years Ago

by Maddy McCarty, Houston, Jan 3, 2024