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Tuesday, May 25, 2010
Search of apartments in Philadelphia
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Friday, February 19, 2010
Two Doomed Buildings Draw a Last-Ditch Plea
. . .Although the alliance decided not to appeal Quigley's ruling, many came out in the freezing weather in the hope of persuading Gov. Rendell to issue a reprieve. Others just wanted a last look at the pair, once home to Philadelphia Life Insurance Co.
Thursday, February 18, 2010
Philadelphia Apartments - Touraine - Center City
Center City Philadelphia Apartment Rental
Located on a tree-lined street, midway between the refined brownstones and distinguished highrises of Rittenshouse Square and the revitalized business and entertainment district of center city Philadelphia, The Touraine stands tall as the epitome of elegance and sophistication. 
Built in 1917, The Touraine has served a variety of purposes over the course if its illustrious lifespan, from grand hotel to residential hotel to condominium. The property was given new life in 1983 when well-known developer, Historic Landmarks for Living, acquired The Touraine and spent $16 million to transform it into a luxury apartment building.
From the classic porte cochere entryway to the elegantly appointed lobby to the exquisitely detailed and generously-sized apartments, The Touraine has redefined the art of luxury living. As a resident you'll enjoy all the comforts of home, along with the sophisticated services that you'd find in a fine hotel.
Today, The Touraine towers above the dramatic resurgence of Philadelphia's downtown district, and our residents are right in the center of it all-the fine shops of Rittenhouse Row, an appetizing array of restaurants, theaters, cultural attractions, plus the spectacular Kimmel Center For The Performing Arts and the business center of the city. For discerning residents, there's no greater luxury than living at The Touraine.
Philadelphia Apartment Rental Leasing Office: 215.735.8618 Imagine living in Philadelphia in the dynamic early 1900's. The downtown expanded as businesses prospered and retailers flourished. Majestic banks and office buildings rose to dramatic new heights along Broad Street and neighboring streets to the east and west. The curtains went up on dazzling new theaters and movie palaces. Grand hotels like the Bellevue Stratford, Ritz Carlton, Walton, along with residential hotels and elegant apartment buildings dotted the area, surrounded by refined brownstones.
In 1917, on quiet, tree-lined Spruce Street, renowned architect, Frederick Webber, was hired to design an elegant hotel at 1520 Spruce, next to the towering landmark Drake Hotel. Webber drew his inspiration from the handsome midrise hotels of Chicago and New York's Park Avenue. His 13-story design featured a porte cochere entryway, a distinctive architectural detail that has virtually vanished from the landscape of today's Philadelphia. The lobby was small and elegant, appointed with marble-tiled floors, fluted columns, sparkling crystal chandeliers, hand-finished moldings and pediment doorways, design details that have withstood time and the various transformations of The Touraine over the years.
In 1983, the property was given new life when prominent developer, Historic Landmarks For Living, acquired the Touraine and invested $16 million to fashion a luxury apartment building. Great care was taken and no detail was overlooked during the restoration to create a quality of life that was second to none. The unique details of the building's distinctive exterior were painstakingly restored. The grand lobby was lavishly refurbished and acessorized with handsome furnishings and accents. A 24-hour doorman and front desk man serve as a sophisticated welcome. But it is the residences themselves that are the defining qualities of The Touraine.
Captivating, spacious floor plans were created to present a sense of home-style comfort. Large, leaded glass windows and French doors now invite plenty of natural light and impressive views into most residences. Many apartments feature ornamental fireplaces with hand-carved mantels, hardwood oak floors, intricate woodwork, European-style gourmet kitchens and an abundance of space. Historic Landmarks preserved the best details of the past and complemented them with a host of luxurious amenities.
The Touraine offers all the elegance, all the quality, all the comforts you'd expect living in a landmark. Come experience a lifestyle that towers above the rest, in a building that has no equal in Philadelphia.
Philadelphia Apartment Rental Leasing Office: 215.735.8618
Wednesday, February 17, 2010
Earthlink Bids Philly Adieu
The Philly deployment had less than 6,000 subscribers and the city government had bowed out long ago. EarthLink, which has said it has spent more than $20 million on the deployment, has filed a federal lawsuit asking that its future responsibility be limited to $1 million as specified in its original agreement with Philadelphia.
EarthLink has been turning over its muni Wi-Fi networks to city governments or otherwise extracting itself from various deployments since late last year. It recently pulled out of New Orleans and turned over networks to Corpus Chisti, Texas, and Milpitas, Calif. Other deployments, in San Francisco and Sacremento, never got beyond the planning stage.
That leaves Anaheim, Calif., as its last Wi-Fi deployment. It's still negotiating its exit there with city officials.
New CEO Rolla Huff has refocuces the company on its ISP business, receiving judos from Wall Street for putting it on the road to profitability.
This may put a damper on some who use free Wi-Fi networks frequently. Many apartments, lofts, and other living communities provide free wireless, and soon, may be losing the privaledge. If you are looking for free wireless in downtown Philadelphia, head to the Packard Motorcar Building. Historic landmarks is proud to offer free Wi-Fi it the common area of the building.
Monday, February 15, 2010
City's Property Market, at Least, Defies Curse
Some sports fans in Philadelphia feel their teams are victim of a real-estate curse.That is because none of the city's major professional teams -- the Phillies, Flyers, Eagles and 76ers -- have won a championship since before 1987, when Malvern, Pa.-based Liberty Property Trust's One Liberty Place rose above a statue of William Penn that tops City Hall. Mr. Penn's hat previously set the bar for the city's skyline.
The American Commerce Center, shown in renderings, would change the look of Philadelphia's skyline.
Fortunately, Mr. Penn doesn't seem to have focused his chagrin on the real-estate market.
So far the Philadelphia area's commercial real-estate leasing market has held steady in the midst of the growing economic carnage. The city's office market, more than the suburbs', has benefited from "steady, unspectacular growth married with little supply," says John Gattuso, senior vice president and regional director of Liberty's urban development group.
While the metropolitan area's office vacancies rose to 14.5% in the second quarter (and rents are expected to decline slightly in the second half of the year), they are still below the national average of 15.6%, according to Boston-based Property & Portfolio Research, a real-estate research firm. Apartment, retail and warehouse vacancies rose in the second quarter but held at or below averages for the 54 major metro areas surveyed by PPR, while rents were still rising in all but the retail sector.
To be sure, the geographic proximity of the region to the crisis on Wall Street -- with Philadelphia about two hours south of Manhattan, give or take -- is a concern among the area's real-estate professionals. As with most markets globally, sales of office, retail and apartment buildings have slowed since the credit crunch began in the summer of 2007, although sales of office buildings valued at $5 million or more this year through August fell just 14% compared with last year's period. That is better than a 77% drop nationwide over the period, according to Real Capital Analytics, a New York-based research firm.
The Philadelphia metro area, home to about 5.1 million people, saw continued growth in its education and health-services sector. And so far overall job growth has remained in the positive territory as of July compared with the year-earlier period, albeit just barely at 0.1%, according to the Bureau of Labor Statistics.
For now, the new 975-foot-tall glass-encased Comcast Center tower that officially opened this year seems to reflect the market's strengths. Designed by Robert A.M. Stern Architects, the building has created a buzz with a 25-foot tall high-definition video screen in its lobby.
The building also has leased all of its roughly 1.2 million square feet of office space, much of it as the new headquarters of cable giant Comcast Corp., says Liberty Property's Mr. Gattuso. It has also done so despite skepticism early on from some brokers who said asking rents in the $40-per-square-foot range were too rich for the City of Brotherly Love, Mr. Gattuso said.
That success may be encouraging other developers. One project planned near the Comcast Center is the American Commerce Center. If built, it would rise about 1,500 feet high and include office, hotel and retail space, according to Peter Kelsen, an attorney for Philadelphia-based Hill International Real Estate Partners LP, which is developing the project.
Citing Hill's joint-venture relationship with a large pension fund, Mr. Kelsen said he's confident the group will have the financing. Developers also need some preleasing commitments and for the city to remove a height limit on the property, he says.
The scale is just one of the project's striking elements. New York firm Kohn Pedersen Fox Associates' design includes a glass facade and futuristic-looking cutouts as well as a lower section that abuts a higher tower that together look something like a chair. "It's not going to be very colonial," Mr. Kelsen says, referencing the city's past architectural leanings.
There's even hope that the tall-building curse may soon vanish. The new Comcast Center gave a nod to Mr. Penn by welding a small statue of the city's founder to one of its beams.