Philadelphia Metropolitan Area Real Estate Law Blog

Philadelphia real-estate developer Ori Feibush had an article published in the Daily News last week in which he recounted how the Philadelphia Redevelopment Authority had ignored him after he made numerous calls expressing interests in purchasing or leasing a run-down vacant lot next to his coffee shop. Frustrating with the long-time non-responsiveness and the harm being done to his business, Feibush went ahead with some improvements on that property.

Earlier this week, the Philadelphia Planning Commission approved the development of several new apartment buildings within walking distance of a new park at the Race Street Prier. The projects have reportedly been criticized due to their deviation from standards set out in the new waterfront master plan and zoning code. The projects were approved, however, on the premise that they would help stimulate the new neighborhood near the waterfront.

According to the Pittsburgh Post Gazette, Philadelphia developer PMC Property Group is quickly becoming a leading property owner in downtown Pittsburgh. The developer recently bought a 30,000 square-foot building downtown for $525,000. The purchase pushes PMC very close to the 1 million square feet mark in terms of real estate ownership.

A number of recent changes in Philadelphia have been positive from the perspective of land use planning and development. As we’ve written, a new zoning code promises to make development easier for businesses. To take another example, a new public space outside the city’s train station, named The Porch, has been quite an improvement over what was in its place before.

In our last post, we noted that Philadelphia has official begun implementing its new zoning code. The event is an important one for business owners and real estate developers, who will have fewer zoning issues to deal with along the way.

This Wednesday, the city of Philadelphia made the switch to a new, updated zoning code which is supposed to simplify the development process and modernize the city’s housing. The new code replaces the one that has been in use since 1962. At the time that code was put in place, Philadelphia was primarily a manufacturing center. The new code will support efforts to rebuild Philadelphia’s residential neighborhoods and accommodate a much-changed business landscape.

Two of the most prominent developers in the Philadelphia area, after working on projects together since 2010, are now locked in a legal battle involving allegations that one siphoned money from two projects the other had undertaken and excluded him from another project. The plaintiff in the case seeks $1.4 million in damages and the right to inspect documents related to each of the three projects. The defendant in the case has called the allegations unfounded.

At a recent meeting of the National Association of Realtors in Philadelphia, representatives from the housing industry expressed concern over what they called “over-tightening” of credit in the wake of the 2008 financial crisis. The result, they said, has been that too many creditworthy borrowers have become unable to qualify for mortgages. Another result has been that builders have become unable to finance even modest residential-construction efforts.

Development disputes throw off many a project time table, but delays don’t typically last as long as a recent one that was recently resolved. Last Thursday, Upper Merion Township supervisors voted unanimously to settle a dispute involving the former Valley Forge Golf Course. The property is apparently the last undeveloped tract of land in King of Prussia.

On Tuesday, the Philadelphia City Council decided to table–after hours of testimony before the Rules Committee– a proposed zoning change that would have allowed a developer to redevelop acres of green space near the Philadelphia International Airport.