What We're Reading: Week of October 16, 2023

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

Bisnow covered the groundbreaking for the first building being constructed at the Bellwether District, which has completed its environmental remediation a year ahead of schedule and is far along with agreements on hiring and contracting on site

by Matthew Rothstein for Bisnow Philadelphia, Oct 16, 2023

WHYY summarizes the latest upcoming deadline for the designated developer of the Germantown Y to secure financing and highlights how Councilmanic prerogative has repeatedly delayed redevelopment of this historic neighborhood icon

by Aaron Moselle, Oct 16, 2023

🔑 Bisnow reports on the blockage at the Land Bank for mixed-income development proposed in line with the City’s “Turn the Key” affordable homeownership program, with incentives for city employees, due to opposition by neighborhood groups that only want deeply affordable rental development, even if there is no public funding to make that a reality

by Matthew Rothstein for Bisnow Philadelphia, Oct 12, 2023

The Philadelphia Business Journal reports on 2116 Chestnut Street coming to the market, a 34-story residential rental tower built in 2013 with 321 units, that is being marketed as a “value add” proposition, in the midst of a commercial building and resale boomlet in the area west of Rittenhouse Square

by Paul Schwedelson, Oct 10, 2023

Three major real estate trade groups reached out to the Federal Reserve, as reported by Bisnow, raising alarms that further Fed interest rate increases would risk a crash in the already stressed housing market, which is seeing a dramatic decline in new home starts and new home mortgage applications

by Matthew Rothstein for Bisnow Philadelphia, Oct 10, 2023

Billy Penn takes a deep dive into what is keeping Allan Domb busy now that his run for mayor is over

by Meir Rinde, Oct 9, 2023

The Real Deal includes an opinion piece on the maintenance challenges presented by rent caps, and predicts that NYC’s affordable rentals will deteriorate as the cost of repairs exceed the increase in revenue to pay for repairs

by Erik Engquist, Oct 5, 2023

Joanne Epps sudden passing was tragic for Temple University, and it is also posing a challenge for PREIT, where she sat on the board during its equally, if not greater, time of turmoil

by Matthew Rothstein for Bisnow Philadelphia, Oct 6, 2023