drbubb

"Bounce seems to be happening/coming in HK property. " It is possible. But I think it will be short-lived, and mainly in the Developer stocks, rather than the physical property market Let's watch it, and see how it develops This week's Index is in favor of your thesis Centa-City Leading Index] 131.76 0.76 %

NEXT HOT SPOTS? : (Lower) North Philly? Point Breeze? 'Proximity to the El is huge' welcome to the epicenter of the city's next big housing boom: North Philly. "I really see big things coming to this neighborhood. I've been a big fan of it," said Patton, 38, who grew up in Delaware County and once worked in computer science. "One thing it could definitely use is more amenities - and we're hoping to be one of them." Patton's wager is a risk that more and more developers, entrepreneurs and homebuyers are taking in neighborhoods like lower North Philly, Kensington and western Point Breeze. In those less-developed sections - many plagued by crime, blight and poverty - land and housing costs have remained relatively low, creating opportunities that are increasingly scarce in booming areas like Northern Liberties and the eastern portion of Point Breeze, where real-estate prices have skyrocketed. Developers, experts and residents note a handful of characteristics that make those neighborhoods stand out as likely places for the next big booms: easy access to public transit, proximity to Center City, hip amenities and real estate that's still affordable for young adults. Patton isn't the only one putting his chips on North Philly. Since 2009, developer Chad Ludeman, of Postgreen Homes, has been buying up land and building trendy, environmentally conscious housing in the neighborhood and along the outer fringes of Kensington and Fishtown, where empty lots once dotted many blocks like missing teeth. Ludeman's vision, he said, is to keep buying and building in areas within short walking distance of the Market-Frankford Line. "Proximity to the El is huge for us. That makes us comfortable going into an area that's still on the upswing," Ludeman, 36, said recently as he sipped coffee at La Colombe's new Fishtown outpost on Frankford Avenue. He said Postgreen plans to continue to press north along the train line, building smart, residential housing that sticks "as much as possible" to city zoning code, so as not to crowd neighborhoods and impede on residents who've been there longer. . . . Point Breeze Longacre said he's taking a gamble on the far edge of Point Breeze because it needs just a few more amenities to take off. "If you can find a neighborhood that maintains a decent amount of physical assets but is suffering from disinvestment, there's probably a pretty good likelihood that you can fix it by virtue of changing maybe just the thought process, the identity, putting in a couple new businesses, doing some residential infill," he said. "And then it'll happen." Three big ZIP codes If U.S. Census data for the areas on which Longacre, Patton and Ludeman have set their sights are any indication, their bets are good ones: The numbers show promising trends with increases in median income and residents with bachelor's degrees evident in three ZIP codes that cover the neighborhoods - 19145 in Point Breeze, 19122 in North Philadelphia and 19125 in Kensington. In Point Breeze's ZIP code, according to census data and American Community Survey's 2009-13 five-year estimates, the number of residents older than 25 with bachelor's degrees or higher increased from 10 percent in 2000 to 18 percent in 2013. In North Philadelphia, the number of residents with at least bachelor's degrees increased from 9 percent to 14 percent. In Kensington, an even more impressive jump: Compared with 8 percent of residents 25 and older holding bachelor's degrees or higher in 2000, an estimated 31 percent had that level of education in 2013. Median income and declining poverty levels paint a similar picture: From 2000 to 2013, the median income increased 44 percent in Kensington's ZIP code, 34 percent in Point Breeze's area and 28 percent in North Philadelphia. Percentages of residents living below the poverty line in the areas - all of which had more than a quarter of their populations below poverty in 2000 - decreased, but with less drastic changes than the increases shown. == > http://articles.philly.com/2015-03-27/news/60520951_1_housing-boom-north-philly-point-breeze

WHO, & WHAT IS DRIVING the Growth from the Center City? /1/ Who’s Moving to Center City Philadelphia? The short version: Most of the people who will occupy these new homes and apartments will fall into two growing Philadelphia demographics. They’re the young and employed, and those nearing or over retirement age. The urban aspirations of young professionals and empty nesters, “isn’t stuff we talk about generally, this is a very specific relationship,” Greenberger told me recently. Young people in particular, specifically those 25 to 34, he says, “want to be here because they can live the live city life they want, can get to work, and it’s more affordable than other cities.” An upscale housing market driven by millennials may sound counterintuitive. After all, headlines about the generation’s struggles abound. However, Steve Mullin says that in a metro region with six million residents, it doesn’t take too many people changing their behavior to result in market shifts. That is to say, the suburbs don’t have to empty out for the city to require new housing. Mullin, president of Econsult Solutions, adds that “for 50 years, Philadelphia basically had no new, quality housing.” Normally, he says, people move into more expensive housing as their income improves, freeing up better housing to the next income level until structures in the worst condition get demolished, and he didn’t see that happening in Philadelphia, for years. “What’s going on in Center City is causing it to expand outward,” says Victor Pinckney, vice president of the Homeowners Association of Philadelphia. He’s focused on rehabbing homes in Philadelphia neighborhoods north and northwest of Center City. == > https://nextcity.org/daily/entry/philadelphia-home-prices-real-estate-housing-bubble-2014 / 2 / Displacement : Profits at the Core, drive the growth into the Fringe City officials say it's that displacement from neighborhoods that are skyrocketing in price that propels new development in fringe neighborhoods. "Most of it is developers responding to what they perceive to be market demand, which comes from a burgeoning population, particularly of younger people who want to be here, are getting jobs here and can't afford to be buying $600,000, $700,000 properties at this point in the neighborhoods that fringe Center City," said Alan Greenberger, deputy mayor for economic development. "Let alone in Center City, which is even more expensive." Greenberger pointed to pricier neighborhoods just outside Center City - like Queen Village, Southwest Center City, Fairmount and Northern Liberties - as examples of how development has tended to push outward from the core. He said that he couldn't speculate on exactly where the next big boom might bring new young residents and development, but that some areas are under pressure because they're still affordable and are not far from the hubs where people work. "There's certainly development pressure on both the east and west sides of South Philadelphia, and there's development pressure in Fishtown/Kensington," Greenberger said. "It's a constant sort of stream of transitions, and [in] those areas, [they] are happening faster." Risky businessStill, those venturing into largely uncharted territory say being among the first is risky. "What we do, there are no [comparable projects] for," Longacre said. "So, I've got to go to the bank and say, 'Oh, yeah, by the way, I've got to borrow this money, and I understand there are no comps around that will substantiate our crazy idea, but here's why it'll work.' " == > http://articles.philly.com/2015-03-27/news/60520951_1_housing-boom-north-philly-point-breeze

Time for Millennials to Buy? What Neighborhoods? // ... a good search?: xx ... // THREE HOT NEIGHBORHOODS ... Quattrone said the big thing homebuyers should take advantage of now is low interest rates — across the country, the Fed says interest rates will increase by October. While it’s not expected to be dramatic, Quattrone said the buying power one could have now is greater than it will be by late fall of this year. The key is to buy in a neighborhood where the buying power will be maximized. And from where Quattrone is sitting, three neighborhoods in Philadelphia stand out. And while they are considered “developing,” it’s worth noting that some see that as a nicer word for “gentrifying.” As young professionals and families push outside the limits of Center City, tax rates and rent prices are going up in neighborhoods that were once on the outskirts. . . . FISHTOWN (pop. 12,505; median price: $260k) E. of MFL: Girard, N. > Berks sta. This is probably a no-brainer. Over the last five to 10 years, Fishtown has exploded with bars, restaurants, amenities and new construction to accommodate and increasingly younger, artistic base of residents pushing out of Northern Liberties and other neighborhoods in the area. Quattrone said Fishtown still has room to grow — a lot of the construction is either rehabbing single-family homes and condos, or ripping down old warehouses that aren’t in use and building apartments on top. She said what sets Fishtown apart is that it’s been an occupied neighborhood (read: fewer vacancies) “for forever,” so infrastructure is already in place for amenities drawing in new residents. . . . FRANCISVILLE (pop. 9,613; median price: $309k, $225 psf) W. of BSL: Fairmount, N. > Girard sta. This area that was once seen as just the northern part of Fairmount has broken off and solidified itself as one of the hottest neighborhoods right now for real estate, but it’s different from Fishtown — Quattrone says it’s been gentrifying over the last four years, mainly because of new construction that’s for sale or rent. It has less amenities than Fishtown, but that’s quickly changing as a 24-hour gym, a brewery and a slew of brand-new apartments are being put in this year. But what’s really attractive about Francisville is its proximity to Center City and its accessibility via the Broad Street Line. Quattrone says this still-developing neighborhood will be valued for how close it is, and could easily become “the next Graduate Hospital” — a southwest Center City neighborhood that’s become a huge haven for ambitious developers and young professionals moving in. Its growth rate for young people is one of the highest in the city. . . . POINT BREEZE (pop. 16,391; median price: $165k) W. of Broad St: Washington. S. > Mifflin St. You’ve heard this one before: Point Breeze is changing. Extremely quickly. Neighbors have battled gentrification for years in this neighborhood, but young professionals who at one time would have liked to live in Graduate Hospital are now pushing south into Point Breeze. To accommodate that, the neighborhood is seeing a great deal of new homes, construction and rehab — making it one of the hottest ‘hoods for real estate in the city. == > https://billypenn.com/2015/06/09/buying-a-home-here-are-the-3-hottest-neighborhoods-for-philadelphia-real-estate/

Interesting article, that inspired me to make some Notes (see below) "Philly's rising real estate market is showing signs of genuine, sustained momentum" NOTES for First Time Buyers ====== (Budget: $150K - $300K) First Time Buyers + With average 1 BR rentals at $1,200 per month, or more in the Central City, it is a really good time to shift to ownership. Interest rates are low too, at mid-three to mid-four percent. Consequently, lots of starter home neighborhoods are experiencing a housing boom. Home values were up 5.2% in South Philly, and 4.4% in Kensington, Port Richmond, and Fishtown - and they are expected to rise this year too. Rule-1 : Be Ready to Buy, don't expect bargains to be around long. Get your mortgage commitment (if needed) lined up Rule-2 : Don't over-analyze; some info on Zillow, Trulia, or Redfin may be inaccurate. Find an agent you can trust Rule-3 : Don't get stuck on having parking, since that may be a budget-killer in the lower bracket; if you really need it, then look at further out areas, like East Falls, Germantown, and Mount Airy (where you might find driveways and garages), or Kensington or Brewerytown, where on street parking may be adequate Rule-4 : Be wary of renovation projects, and not doing inspections - old homes can have problems, such as out of date wiring AREAS: Brewerytown, Point Breeze, Port Richmond . (Budget: $350K - $800K) Move Up Buyers + It's a Seller's market, and days on-market is way down in nearly every zip code, while median prices are up by 45 percent since 2008, in neighborhoods like Fishtown and Kensington Rule-1 : Understand your requirements, and what you can compromise on (do you need a car?) Rule-2 : Project hassles may not pay off, but understand the tax abatement situation (new, & 85% gutted) Rule-3 : Sell first, then Buy (then you can negotiate from strength); maybe sell and lease back for a period. The average time on market now is 65 days, with closings taking another 30-60 days. Rule-4 : Be prepared to escalate (your price & space requirement), especially in hot neighborhoods, like Fairmount. Buy what you can easily sell, and that means 2-3BR and at least 1 1/2 baths. Smaller than that will shrink your buying pool Rule-5 : Not all new construction is equal. Research track records of builders, and architects. Energy-efficiency is something to be aware of (LEED, or Energy-star certified), the lumber used, and type of roof material. Rule-6 : Supply is tight, even/especially in the suburbs; and walkability matters there too AREAS: Spruce Hill /Cedar Park (West Philly, along Baltimore Avenue), Fishtown & South Kensington (Frankfort Ave); The Mount Airys . (Budget: ?? ) For Condo Buyers Rule-1 : ?? Rule-2 : ?? Rule-3 : Check condo fees. Surprises can come: Move-in fees, Rent-out fees, etc, Rule-4 : Careful! Many Condos limit renters - so be aware of renter ratio, some cap at 25%, price impact? Rule-5 : Walk-ups can be very hard to sell - esp. since boomers will not consider non-elevated buildings Rule-6 : Soundproofing can be an issue in older buildings Rule-7,8,9: Pets regulations vary. Condos can issue surprise assessments. Only 5 days to review docs? . (Budget: ?? ) High End Buyers Rule-1 : ?? Rule-2 : Prime locations stay prime. Some units near Rittenhouse Sq have appreciated 65% in 3 years Rule-3 : Supply is super-limited (for larger flats, especially in Center City; buy 2 and combine them? Rule-4 : Brownstones : Demographic changes are driving supply shifts, as boomers move from brownstones to new condos; but parking can be a big issue, effecting price Rule-5 : Suburbs : Boomers are moving to the city, but this factor has not hit its tipping point yet, so suburban supply is still limited

ETr List - certain Aus-Mining stocks followed AWV / Anova : 2-yrs : 1yr / 10d (345k) 5yr -- updated to 10/12/17: A$0.086 PRU / Perseus : 2-yrs : 1yr / 10d (27.5k) 5yr -- updated to 10/12/17: A$0.35 GCR / Golden Cross : 2-yrs : 1yr / 10d (20k) 5yr -- updated to 10/12/17: A$0.007

Steve Bassett and George Noory Talk Disclosure with Ron James on Bigger Questions

(From AX) : link "OK so nothing scientific but based upon the sentiments expressed, short to mid term confidence in the local market, among those present, has evaporated. I did not hear one opinion that prices won't fall further..." - GDEP I think that the Bearish consensus might last for some years. With some early birds buying dips, until we eventually see a Low, in 2019-2020 Or whatever. At some stage, there will be a good rally, perhaps lasting a year or so - but followed by new lows. That's the usual pattern - OTP

Allegheny West / 22nd St. has a TOD plan "Other issues: expanding and enhancing open space near Tacony Creek, reuse of abandoned railways, and maintenance of traditional neighborhood commercial corridors at 22nd & Lehigh, Broad & Erie, and 5th & Lehigh. Rail stations at Broad & Glenwood and 22nd & Allegheny create opportunities for higher density, mixed-use development..." - Excerpt, 2035 Plan : for the NORTH District "Our 22nd Street Transit-Oriented Development Plan is designed to develop for-sale and rental housing units and renovate vacant industrial space within close proximity to the Allegheny Avenue regional rail station. The development of newly renovated housing units and retail space within walking distance of the train stop presents an opportunity for residents and small businesses to connect more easily to the surrounding region. Residents working outside the city will find their new homes’ proximity to the R6 Norristown line a pleasant convenience, and the short distance between the proposed new retail units and public transit provides potential consumers with easy access to goods and services. In total, this project calls for the development of 70 units of for-sale housing, 100 units of rental housing, approximately 40,000-square-feet of retail space and the redevelopment of approximately 50 acres of light industrial space." == > http://www.awest.org/transit-oriented-dev.php

Silver looks too cheap, relative to Gold I have begun to sell some gold, and replace it with calls on SLV. The idea here is to keep the upside in precious metals, and maybe get more upside, and to have some real downside protection Sell Gold $1233.7 : Buy Silver $15.14 :: r- 81.49 Sell GLD: $117.92 : Buy SLV : $14.41 :: r- 8.183 Sell July SLV Calls : $12.0 Calls : $2.66 : IV: $2.41 / TV: $0.25 SLV at $14.66 (Strike + Prem) locks in what Silver Price? Today's ratio of Silver/SLV is (15.14 / 14.41 = 1.0507) I expect that ratio to rise by 1% every three years (to cover SLV mgmt, storage, etc) That's 1.00% / 36 = 0.028% a month. So that's 5 mos : 0.028 x 5= 0.14% x 1.0507 = 1.0522 . So: The July $12 calls lock in : $14.66 x 1.0522 = $15.42 (or 28 cents higher, + 1.8% higher) If Gold stays where it is now ($1,233.7), and Silver is: $15.42: the ratio locked in would be 80.00 In effect, the high ratio, helps to pay for the Time Value in the SLV Option

Tough Luck for the once-Lucky . New stamp duty land tax extra three per cent charge could hit parents who want to help their children get onto the property ladder, tax experts warn . If you're currently saving to give your son or daughter a helping hand onto the property ladder, you might find you need to put aside a little bit more than you bargained for to cover tax charges. The Chartered Institute of Taxation (CIOT) yesterday cautioned that the additional three per cent charge on stamp duty land tax (SDLT) announced in last November's Autumn Statement, which was intended to apply to those purchasing a buy-to-let property or a second home, could also be applicable to parents who are jointly purchasing a property with their children. "A joint purchase may be made for reasons that have a clear social value and not a bid to set up a buy-to-let business," said Brian Slater, chair of the CIOT’s Property Taxes Sub-Committee. "Life is complex and there are many situations where parents want to support their adult children in buying a home. Taking even a small interest (while owning another property) means that the extra three per cent is payable on the whole of the purchase price." Read more: Landlords have been hit by 14 tax changes in four years

Weak Rents, Falling Prices - reports the SCMP Economic Woes take toll on Leasing "Rents at blue chip estates are falling faster than prices" Rents are down 16% at Taikoo Shing, and are also weak at other estates as middle class families cut their rental budgets in anticipation of a weaker economy. Recent news of pay and hiring freezes at banks and brokerage firms are adding to the deteriirating sentiment Yuen Long to see biggest growth in new flat supply Eleven new projects - comprising a total of nearly 4,200 flats are due to be launched in coming months. The secondary market is nearly dead as agents focus on new properties - which are more lucrative for them SHKP released the first batch of 108 units at Twin Regency in Yuen Long at an average of HK$11,360 per sf, about 15 per cent lower than Cheung Kong Property's Yucci Square. After a discount of 11%, prices are HKD10,138 psf. And the cheapest flat costs $9,372 psf - that's 299 sf at $2.8 million

The Unlikely Boom of Chicago's Chinatown : (Lessons to Learn?) Next City-6 hours ago Only open since August, the new library is a nexus for Chinatown. .... Between 1853 and 1873, the height of westward expansion, nearly 14 million .... Boston and Philadelphia for pushing policies that accelerate “the gutting of ... . . . With its emphasis on civil rights, public safety and livability, the plan makes it clear that Chicago Chinatown wants to be a place that people call home — not just a tourist attraction, or a historic curiosity. But there is a fundamental tension in envisioning the polyglot Chinatown of the 21st century. In Chicago, New York City, San Francisco and other cities, Chinatowns are the direct result of racism. Segregationist housing practices pushed Chinese immigrants into isolated enclaves where they banded together in a society that enshrined its distaste for the Chinese in law. Whether it was in places of worship offering services in Mandarin and Cantonese, or community banks catering to immigrants, Chinatown was a place where day-to-day life wasn’t stunted by exclusion. . . . While their appeal as a weekend destination was growing, Chinatowns were seeing the start of a residential exodus. Prompted by urban unrest in the 1960s and ’70s and corresponding white flight, many Chinese people chose to move to the suburbs — or to the “ethnoburbs,” as some have dubbed them. D.C. residents moved into Maryland and Virginia. In New York, Chinese families shifted to the outer boroughs, especially Flushing, Queens, and Sunset Park, Brooklyn. Los Angeles residents headed to the San Gabriel Valley, which today is home to eight of the 10 cities with the highest proportion of Chinese-Americans. Monterey Park is believed to be the first suburban Chinatown. More than 30,000 attendees crowded Chicago’s Chinatown for the Lunar New Year Parade on February 14. The Chinese are the fastest-growing immigrant group in Chicago, and the city’s third largest overall. The Chinatown on the South Side is its second location, established after the first Chinatown in The Loop — founded by Chinese people fleeing racism on the West Coast — was pushed out by mounting discrimination, overcrowding and economic pressure. But in its present location, Chinatown is a bustling center of services and commerce. It’s also home to 8,000 residents, a number that has risen even as the overall population of Chicago has fallen. Residents are also increasingly arriving from different regions of China, bringing with them new-to-Chicago traditions and foods. . . . One of the most potentially transformational — and difficult — recommendations in the community vision plan is creating a better high school option. David Wu, executive director of Pui Tak Center, says that the nearest secondary school is poor and “almost no one goes” to it. Some attend selective schools, but not every kid gets into them. Those who are left behind don’t have many choices, Wu says. “Immigrants come here so their kids can have an opportunity and a chance. They’ve really put their hope in education.” . . . Most modern Chinatowns are serving less as a singular manifestation of Chinese-American life than as a central gathering place for people to experience Chinese culture — whether or not they have a Chinese heritage. And indeed, Chinatowns themselves were often built on the ground of former ethnic enclaves that had organically dissolved; the one in Manhattan has previous incarnations as the Irish Five Points and Little Italy.But as Chicago’s Chinatown demonstrates, this is not a predictable story. More than a hundred years after its founding, the neighborhood has a dynamism that can’t be neatly scripted. “Chicago Chinatown is the only one in the country that has not been gentrified and also has been expanding,” says Wong, of the Chinese American Service League.

GERMANTOWN & Wayne Junction Weinstein Proposes Lofts in Germantown / Wayne Junction area Ken Weinstein, entrepreneur and developer, is well-known for rehabbing properties in Mount Airy. Now, he's turned his sights on Germantown, buying and refurbishing historic or vacant buildings and turning them into modern apartments and stores. "Germantown is still high-risk, low-cost, as far as development goes," Weinstein said in a recent interview. "It's not hot yet, but it's growing. Mount Airy shows what Germantown could be." . . . Across from the Y is Weinstein's newly renovated Cobblestone Flats at 5301 Germantown Ave., 11 apartments and a street-level café opening this year after conversion from a storage facility. Weinstein bought the building in 2011 for $5 million; the café will be run by Marvin Graf, owner of the East Falls Tavern, who plans a brick-oven pizza restaurant. > http://gregorymcs.blogspot.hk/2015/01/ken-weinstein-moves-to-rehabbing.html / 1 / Developer composing a new image for former Wayne Junction industrial site Glad that I can finally post development news about Germantown, a place I think of as the most single most important neighborhood in Philadelphia. This is balancing its extraordinary potential, history, architectural diversity and cache against the vast array of tangible hazards that threaten those characteristics - namely structural decay and crime. I think this project could be a winner. Given the fact that there are already successful lofts near the Somerset station area, I don't think it's that far fetched to imagine artists seeking space in a comparatively well-heeled area of G-town. / 2 / One block west of the Max Levy building (up on the palisades) is the furthest extent of the gentrification, and it doesn't really pick up along Wayne Avenue or Greene Street until about a mile north of the Max Levy building. That odd missing mile of gentrification is very frustrating, as the Wayne Junction train station is incredibly useful and it would be even more useful if more people actually used it - very many trains don't actually stop at Wayne Junction due to low ridership. Still, today it offers sufficiently frequent service to Center City that I rarely check the schedule when I use WJ, since there's generally a train to CC every few minutes. With the station renovation and the rerouting of the CHE line onto the main platform, the guessing game of which platform to use will go away, which will be a huge improvement. Adding people and activity to Wayne Junction would be a great thing. It has amazing rail and road connections, and it is criminal that it and the area around it are so underutilized. / 3 / Interesting point - with the exception of Suburban Station, all of the main line train stations are easily accessible to each other - 30th Street, Market East, Temple, and Wayne Junction, but what's the point? It's not like there's much there there at any of the stations; with the exception of Suburban Station, they're mostly just transportation hubs with not much of interest around them. I had thought it was Wayne Junction that was the outlier, but maybe not so much. Still, that's changing, with much change in store and ongoing at just about all of those stations that is livening them up and will continue to do so, even around Suburban Station, too. At the risk of stating the obvious, I think the area around Suburban Station is a good example of the TOD model that all of these stations will gradually move towards, and as Drexel moves towards 30th Street and the hipness of 13th Street takes over Market East and Temple builds up a residential area in the wastelands around the Temple U station then by necessity Wayne Junction's star will rise, just as Fishtown's and Northern Liberties' ascendance is helping the el and nearby stops on the el. Six minutes from Wayne Junction to Temple. Four more to Market East. Five more to Suburban. Five more to 30th Street. Not too shabby, once there's more reason to go to those stations. / 4 / Another major barrier to making this a better place to invest is the intense blight going north on Wayne Avenue. it's the corridor itself that is severely blighted, not nearly so bad east or west. It's technically mixed use, but obviously failing today. > http://www.philadelphiaspeaks.com/threads/weinstein-proposes-lofts-in-germantown-wayne-junction.32855/ / 5 / We'll bet Comcast-Spectacor is licking its chops already over this possibility; SEPTA's Wayne Junction makeover could spark further new development in a neighborhood already on the mend; and since this daily link roundup comes out around the lunch hour each weekday, why not catch up on your reading with fine fare from some of the city's most creative mobile chefs? The city's looking for new vendors to join the current lineup too - but hurry, the application deadline's tomorrow: Pa. Convention Center could wind up in private hands by summer (Newsworks|WHYY) Town By Town: Wayne Junction area is right on track / 6 / . Crossing Germantown Avenue just north of Germantown's historic center, Chelten Avenue emerged as a shopping street to rival Chestnut and Market streets in the late 19th century, after the Pennsylvania and Reading railroads extended lines to the area and built stations where their routes crossed the street... > http://www.phillyliving.com/blog/germantown/?p=4 MANTUA - Another place that may get TOD grants City's housing plan: Fix it up and sell it - Philadelphia ... www.bizjournals.com/.../stories/.../story14.html?... Aug 3, 2009 - To do that, the city would focus the grant funds on transit-oriented development. The area of the Wayne Junction train station, Mantua and Point ..

On the Ground: The Future of Chinatown "...the struggle to expand Chinatown. The neighborhood's historic core is quite small" (Now constrained by the Vine St Expressway; Will it spread elsewhere?) : Jake Blumgart | February 09, 2016 Philadelphia's Chinatown is a historic oddity. A thriving neighborhood packed with independent restaurants, scrappy markets and hip dining destinations, it is distinct from both its struggling counterparts in the Rust Belt and its upmarket rival in New York City. That is no accident: The community has an activist tradition that stretches from the battle against the Vine Street Expressway to the fight against the Phillies' stadium to more recent anti-casino campaigns. The neighborhood also boasts a set of robust institutions and longstanding Asian landowners, a bulwark against the wasting deaths from suburbanization and gentrification that befell its equivalents in Baltimore, Cleveland, and Washington, D.C. Today Chinatown continues to face the nebulous forces of downtown reinvestment. Housing prices and land costs are skyrocketing, checking the neighborhood's expansion and making affordable housing difficult to find. Similar circumstances have transformed Washington D.C.'s Chinatown into a Potemkin village, with an iconic welcome gate and Chinese iconography but very few Asians or immigrants of any kind. "There's a legacy of cohesion in Philadelphia's Chinatown, because it fought to protect its territory," says Kathryn E. Wilson, Associate Professor of History at Georgia State University and author of the 2015 book Ethnic Renewal in Philadelphia's Chinatown. "Although the same kinds of pressures were effecting each of those Chinatowns [in New York and Boston], Philadelphia had the greatest sense of stability. What makes gentrification so challenging is it's not something that's easy to mobilize against. It's the private market working the way the private market works." The most obvious manifestation of this trend is in the struggle to expand Chinatown. The neighborhood's historic core is quite small, bounded by Filbert Street to the south, 13th Street to the west and 9th Street to the east -- beyond which lie major institutions such as The Gallery underground mall, the Pennsylvania Convention Center and the Independence National Historical Park. To the north is the sunken track of the Vine Street Expressway, beyond which lies an erstwhile industrial neighborhood that traditionally boasted few residents (despite David Lynch’s well-documented time there). In the 1980s it seemed to offer a point of egress for the growing Chinese population. That area has been dubbed "Chinatown North" by community leaders. Indeed, the Philadelphia Chinatown Development Corporation's (PCDC) boundaries as a Registered Community Organization (RCO) stretch up to Spring Garden Street. Though it hosts key sites for the Chinese-American community -- including Holy Redeemer Church, the Folk-Arts Cultural Treasures (FACT) Charter School and headquarters for PCDC, all of which are clustered just above the highway -- the neighborhood is known to many Philadelphians as Callowhill. (The area is also included in the Callowhill Neighborhood Association's RCO boundaries.) Little of the vibrancy and culinary variety of historic Chinatown has crossed above the expressway. In 2013, an Asian American Legal Defense and Education Fund report found that almost all of Chinatown's Asian restaurants were found in the historic district south of Vine, whereas the area's only remaining manufacturing businesses were based in Chinatown North -- and often served as the backend for the eateries, providing foodstuffs like noodles, fortune cookies and tofu. Most of the neighborhood's population increase is due to a recent influx of high end loft apartments and condominiums. Rents across Chinatown are higher than the Philadelphia average ($893 for 5.6 rooms) -- which makes sense considering the prime location -- with the highest being in the Census tract that covers Chinatown North at a monthly average of $1,271 for 3.2 rooms. One-bedroom apartments are the most common form of housing in Chinatown, and in both the census tracts that cover historic Chinatown about half of those units cost over $1,000 a month. Forty-five percent of renters pay at least 30 percent of their incomes in rent in one census tract; 52 percent do so in the other. (All of the numbers in this paragraph come courtesy of PCDC.) That's been the experience of Joe Chou, a manager at the Happy Sign store on 10th Street. "I'm a Philly guy, it was my destiny," says Chou, who moved here from Taiwan 16 years ago. "It's a historic city and Chinatown is wonderful. I have a job here." But he's never lived in the neighborhood. "The rent is very expensive in Chinatown," explains Chou, who resides in South Philadelphia. "But it would be more convenient for shopping and getting to work." As a result of the neighborhood's rising housing prices, more working-class Chinese immigrants (like Chou) and Chinese Americans have been moving to South Philly and the Northeast over the last couple decades. The city's Chinese population is not large enough to have produced regional satellite Chinatowns, such as Monterey Park near Los Angeles, Sunset Park in Brooklyn or Flushing in Queens, but perhaps that could change if immigration patterns continue. "We are no longer the place where all the Chinese immigrants go through and live," says Sarah Yeung, Capacity and Projects Manager for PCDC. "Much of that is due to where we are and how densely we are built, as well as the increasing rate of immigration." == > http://www.flyingkitemedia.com/features/futureofchinatown020916.aspx Connecting Big Banking to Community Investment There’s a New Plan to Fix Detroit’s Broken Homebuying System

My hopes have faded ... But I do want to listen to this interview Mike Harris did with Keshe in the last few days before giving up Short End Of The Stick with Mike Harris: MT Keshe is the guest MP3 : http://media.blubrry.com/vtradio/p/content.blubrry.com/vtradio/The_Short_End_of_the_Stick-with_Mike_Harris-2016-02-18_guest_Keshe_half_hour_final_edit.mp3 (in edit): More claims from Keshe. No evidence was provided

Not too far from Wayne Junction is... Logan Triangle - an area with a checkered past - but large enough for ambitious redevelopment The Triangle is one of the largest vacant lots in the city and easily the biggest planning concern in Logan. But it’s not the only one. Last summer, Logan CDC was in the midst of carrying out a neighborhood plan when it ran into financial problems and abruptly shut down. The work, which was funded by Wells Fargo Regional Foundation, has languished since then. But the PRA has now taken it upon itself to see the neighborhood plan to fruition. It has reengaged WRT, the Philadelphia design firm that was working with Logan CDC on the neighborhood planning and resident survey, to finish the job. “First of all, I want to say I know the city has been absent for too long,” said Abernathy at the beginning of the meeting. “I know we haven’t served your community well over the last 30 years, and I apologize for that.” Abernathy said he’s working to gain the trust of the community, and that he feels confident work at Logan Triangle—which has seen a series of failed proposals over the last three decades—is on track this time. Construction could begin within two years, Abernathy said, though he was careful to point out that Goldenberg himself is less firm on that timeline. . . . Goldenberg’s most visible built legacy in the city are big box stores, the IKEA complex on South Christopher Columbus Boulevard and the Park West Town Center at 52nd and Parkside. The latter was partially subsidized with a tax increment financing package (TIF). His most visible unbuilt legacy is the Disney Hole, the massive surface parking lot at 8th and Market streets. Goldenberg had worked on a proposal to help develop a Disney theme park on the site in the late 1990s and early 2000s, a proposal which later fell through, leaving Philadelphia taxpayers out $10 million. The developer, who was once among former Mayor John Street’s most generous campaign donors, most recently sought to build the Market8 Casino on the same site, but was passed over for a casino license from the state gaming board. Abernathy said on Tuesday night that Goldenberg is the right choice to redevelop Logan Triangle for a number of reasons. For one, he’s the only developer who has shown continuous interest in building something on the site, according to Abernathy. == > http://planphilly.com/articles/2015/09/30/goldenberg-group-selected-to-redevelop-logan-triangle

NOTES : On Commuting from Philly > NYC ====== AMTRAC : US$1,350 Monthly : cheaper options below / 1 / Philadelphia / NY commute: is it that bad? Depends on how much you make and where you live. My accountant lives in philly and works in nyc. However his firm is 2 block away from penn station and he lives few blocks away from 30th st station. He says it's about 3 hour round trip for him. Also it isn't cheap. Unlimited monthly is about 14-15k a year.* However my accountant saves far more than that by not paying NYC income tax due to how much he makes. Worth to note though he did ***** about fact that before 2005-2006, it was half that and around 600 bucks or less but price started to be jacked up. Hopefully your job pay and difference in taxes make this worthy daily travel for you. *($15,000 / 250 working days : $60 per day; or $30 each way?) / 2 / Why not look for a job in Philly while you still work at the NYC job? A 2 to 2.5 hr commute will wear you down, bro! (2 hrs via car, 2.5 via train and this is just getting to nyc. do you have to take a train to the nyc job?). If you're single, this will kill your social life. If you start work at 8 or 9, you will have to wake up like at 4-5 am. / 3 / I had a business associate who was doing the reverse (living in NYC and working in Philadelphia.) After about a year, he couldn't take it anymore and sold his place in the city and moved to the Philly area.(A nutty idea - since the economics are completely AGAINST the reverse commute: Home prices, taxes, salaries) / 4 / We had an employee in our office who moved to Philadelphia and tried to keep his job here. After only a few weeks, he started coming in routinely late and leaving early, calling in a few days a week sick. He was eventually told that he needed to be at work on a regular basis or be fired. It's just not worth it if you have to show up in person at regular hours in NYC. However, if you can work out a deal where you telecommute a few days a week and have flexible hours that would make it better. Read more: Thnx CityData / 5 / Getting from New York to Philadelphia Taking Amtrak from Penn Station New York to 30th Street Station Philadelphia takes between one hour and eight minutes on the Acela high-speed train, and one hour and 26 minutes on a regular-speed train. One-way tickets start at $43 for a regular regional train and $81 on the Acela. A business-class upgrade costs $22 on the regional train and $61 on the Acela. A monthly pass for commuters costs $1,098, but that allows unlimited travel between the two cities on any train, excluding the Acela. When I did the trip after work one night, I couldn't believe how fast it was. I hardly had time for a nap. / 6 / my fiancee does this every morning, five days a week, the R7 to Trenton, then NJT to NY Penn station. Takes him two hours. It has been five months so far, and it is really getting to him. He listens to his ipod, and reads books to pass the time. we are trying to move to NJ, to help him with the commute. I say it's doable for a short period of time, with an end in sight. If you have any other questions, feel free to pm me. Read more: http://www.city-data.com/forum/philadelphia/241690-commute-nyc-via-septa-nj-transit.html#ixzz40xn8Afns / 7 / I've done it before (from both sides). It's a terrible commute IMO. My weekdays would often consist of waking up at 5:30 am, getting to work at 8:45, leaving work, getting home around 8:30, eating dinner, going to bed, rinse, repeat. Under normal circumstances it's 2 hours on the bus, or 2.5 hours on the cheaper regional trains (Septa+NJTransit). Amtrak is a nicer option, but it will cost $1400/month and maybe save you 30 minutes, or more for Acela, which will save you 45 minutes) (Unless it's delayed, which happens approx 20% of the time). The bus isn't especially cheap either, comparable to regional trains, but will likely have frequent traffic issues during commuting times. PLUS you have to add to that time on the bus or train however long it takes to get to and from Penn Station(NY) to the office, and to and from your place in Philly to the bus or train station. Not even counting delays in any of the stages, this means it could easily be a 3 hour door to door commute each way. Read more: http://www.city-data.com/forum/philadelphia/1424277-anyone-here-commuting-into-new-york.html#ixzz40xniV49m / 8 / Look at the SEPTA and NJ Transit schedules for the NEC. They both show the connecting trains of the other agency at Trenton. What you would want is to take a SEPTA train to Trenton and then connect to a NJT express train that runs non-stop from Princeton Junction to Newark to make the trip time bearable. A fair number of people do this, although they may commute from a station north of 30th St to Newark and then take PATH to southern Manhattan. There are NYP-PHL daily commuters who take Amtrak, but they are either compensated for it or make enough money to afford it. / 9 / If you don;t mind buses, Megabus and Bolt Bus run non stop service from Philly to NY. I've taken Megabus many times. Fares start at a dollar and rarely go over $15, unless you book less than a week in advance. They drop off at 28th and 7th and the pick up is at 34th and 11th. Both buses have pick up in Philly about two blocks from 30th St station. / 10 / You must use Amtrak, the NJT/SEPTA route will drive you INSANE before the 1st week is over....Amtrak is really the only way to do this commute and keep your sanity. - Unless you're going to be commuting 5 days a week for certain, DO NOT get the Monthly Pass, Its a huge waste of $$$ IMO if you commute any less than 20 days a month. - Buy your tickets while the 14-day Advance Ticket pricing window is open (14 days or more in advance). I buy mine for a month 1 to 1 1/2 months ahead of time. My monthly cost comes out to be around 800-850$. / 11 / The cheapest option for 20 round trips a month is the SEPTA/NJT combo with the change of trains at Trenton. The monthly SEPTA pass is $191. The monthly NJ Transit pass is $440. The total monthly cost is $631 - less than half the cost of Amtrak. One plus is that the monthly SEPTA pass permits use of any SEPTA rail station and also SEPTA bus, trolley and subway lines. The Amtrak pass requires you to get to 30th Street Station, and depending on where you live, that could be an additional cost. The SEPTA/NJT trip to New York is not fast and comfort is arguable, but next to Megabus or Bolt Bus, it is pretty much the cheapest way to go> MORE: http://discuss.amtraktrains.com/index.php?/topic/55382-philadelphia-to-nyc-commute-affordability-help/

TRANSPORT - Enhancements specified in the 2035 Plan Excerpts g Expand the intermodal transit center at 30th Street Station to connect bus, regional rail, high speed rail, and pedestrian and bicycle networks. h Rehabilitate City Hall and 15th Street Subway Stations. i Expand the intermodal transit center at Market East to connect intra- and inter-city systems and consolidate inter-city buses. j Utilize existing regional rail infrastructure to create “City Rail”, an enhanced regional transit network with frequent service and extended hours. k Support restoration of regional-rail service to points outside the city AND: Support continued investment in existing and updated rail infrastructure in the Northeast and Keystone rail corridors to link Philadelphia to Washington, D.C., Boston, Pittsburgh, and intermediate points by high speed rail. Encourage increased investment in high speed rail to decrease travel times between major metropolitan areas and increase the connections between Philadelphia and other east-coast cities AMTRAC : Philadelphia (30th St) > NYC (Penn St) / Current time to NYC, about 1 1/2 hours # : Mi.: PhnStop : Usual : 0 : 104 : 0700A : 0750A : Philadelphia, PA - 30th Street Station (PHL) 1 : 109 : 0708A : -------- : Philadelphia, PA - North Philadelphia (PHN)* 2 : 121 : 0723A : -------- : Cornwells Heights, PA (CWH) 3 : 137 : 0737A : 0833A : Trenton, NJ (TRE) 4 : 147 : -------- : -------- : Princeton Junction, NJ (PJC) 5 : 163 : -------- : -------- : New Brunswick, NJ (NBK) 6 : 171 : -------- : -------- : Iselin, NJ - Metropark (MET) 7 : 183 : -------- : -------- : Newark, NJ - Airport (EWR) 8 : 185 : 0812A : 0906A : Newark, NJ - Penn Station (NWK) 9 : 195 : 0830A : 0926A : New York, NY - Penn Station (NYP) D : 091 : 130m. : 136m. : MILES & minutes == > Amtrac / Keystone : https://www.amtrak.c...e-service-train 4.1.2. / Case Study : High Speed Rail in Philadelphia Philadelphia is ideally positioned in the center of the Northeast Megaregion and would greatly benefit from high-speed rail service (HSR). The Northeast Corridor route has a culture of rail ridership, population growth, and a demand for inter-city travel that cannot be met by current transportation modes. The Amtrak Northeast Corridor route has historically been the most popular route in the national passenger operation system. Recent national momentum is building towards true high-speed rail, which could reach speeds of up to 220 mi/hour and travel the entire distance of Boston to Washington, D.C., in less than 3.5 hours. In 2010, Amtrak created a high-speed rail department in Philadelphia and, in early 2011, requested proposals for financing a new high-speed corridor from Boston to Washington, D.C. Projects in Philadelphia as a result of a high-speed rail system could include a seven-mile tunnel beneath the city connecting the International Airport and Market East Station and new tracks and station infrastructure to accommodate the system. The proposed HSR system would bring 10.5 million additional people within one hour of Philadelphia, which will enable Philadelphia businesses to draw from a larger workforce and allow for new levels of collaboration across industries. == > http://phila2035.org/wp-content/uploads/2011/01/Connect_Transportation.pdf Trains are necessary ... in China... (and maybe most other countries too): - so says the South China Morning Post: "China has been aggressively investing in high-speed rail, and operates a total mileage of more than the rest of the world combined. If costs such emissions, pollution and accidents are all taken into account, high-speed railways are far more sustainable than aviation. It is probably the only way to cater cater for super-larger traffic volumes for a market of China's size. In the first 10 days of the Lunar New Year period, high speed railways carried 34 million passengers or 46 per cent of total rail traffic... It is too expensive to build airports to cater to the highest possible congestion" - Slowly getting there / Fioaowen Fu, INSIGHT page, A13, Feb. 22, 2016

Wayne Junction - MORE on its TOD Developments - it is in the 2035 Plan / Philadelphia2035 Citywide Vision Wayne Junction, a SEPTA regional rail station located at the crossroads of Germantown, Wayne, and Windrim Avenues, is an excellent candidate for transit-oriented development. In 2008, it was the focus of the PCPC’s Germantown and Nicetown Transit-Oriented Plan. Wayne Junction’s frequent rail, bus, and trackless trolley service already attracts high ridership, but the surrounding former industrial sites lay fallow. Through zoning changes to allow mixed-use commercial and residential redevelopment, historic certification of significant buildings, marketing and sale of city-owned sites, and renovation of the station by SEPTA, Wayne Junction has the potential to become a major transit-oriented development su... == > http://phila2035.org/wp-content/uploads/2012/06/Thrive_Neighborhoods.pdf == > source: http://www.ksk1.com/#!page3/cee5 Development News On the Ground: Wayne Junction upgrades spark private investment Greg Meckstroth | Tuesday, February 26, 2013 < before redevelopment The Wayne Junction SEPTA Station renovation has been underway for a little over a year and already developers and community groups are buying up nearby property, anticipating increased demand for living and working close to one of Philly's busiest transit hubs. The Frank Furness-designed station was rebuilt in 1900. It sits at the nexus of Germantown and Nicetown, and serves five different regional rail lines, making it one of the most heavily trafficked train stations in the city. Now, a $25 million renovation will bring the neighborhood anchor into the future, and hopefully spark the area's transformation. Though progress has been slow, private investment has begun to pick up on the Germantown side of the station, notably in the Wayne Junction Industrial Historic District. Lower Germantown has tremendous potential -- it is rife with beautiful, historic, underutilized buildings. Last year, developer Ken Weinstein of Philly Office Retail bought the former Max Levy Autograph Co. building on Roberts Avenue. "I was really encouraged by SEPTA's investment in upgrading Wayne Junction," says Weinstein, "otherwise I wouldn't have bought the building." This past summer, Weinstein and company got to work removing asbestos and clearing the vacant structure of hazardous materials. Weinstein hopes the building can eventually be utilized as offices, lofts and artist studios. Weinstein has also bought other buildings close to Wayne Junction, including the former Germantown Settlement Charter School (that project was detailed in a recent issue of Flying Kite). Transit proximity was a key factor for the school's new tenants, GreatnessIsInYou!, a community performance space, and the non-profit New Directions for Women. On the south side of Wayne Junction, the public sector has entered the fray. Nicetown Court II, a collaboration between the Nicetown Community... == > http://www.flyingkitemedia.com/devnews/WayneJunction022613.aspx . : Larger Map Philadelphia City Planning Commission Germantown and Nicetown Transit-Oriented Plan Real Estate Strategies, Inc. was part of a consultant team that prepared a plan for the Germantown and Nicetown neighborhoods of Philadelphia. The neighborhoods have five SEPTA regional rail stations including the Wayne Junction station that is a major transfer point, as well as numerous bus routes. The goal of the study was to explore residential and business district revitalization strategies that take advantage of the neighborhood’s rich transit resources. RES served as market analyst for the team, preparing economic and demographic profiles of three sub-sections of the study area and advising on market issues influencing development plans. In particular, the profiles have identified specific real estate market opportunities within each of the areas, particularly as they relate to redevelopment around the train stations. RES also participated in stakeholder outreach and a community visioning session and assisted with the development of the plan’s implementation strategy. == > http://www.resadvisors.com/?page_id=1066 Bright Idea for SEPTA: Regional Rail LiteLess costly, more frequent service could become possible as soon as next year. Will SEPTA seize the day? Read more at http://www.phillymag.com/news/2014/01/30/septa-regional-rail-lite-rapid-transit/#Zu6h2yFbqOfOj4Cg.99 Philadelphia's Regional Rail network used to have many more — and more closely spaced — stations than it does now, and it used to extend further into the city's hinterlands and operate on more corridors. Those corridors were served by diesel rail cars operating out of the Reading Terminal. When the Commuter Tunnel and its Market East Station replaced the terminal in 1984, SEPTA eliminated all non-electrified service because diesel-powered trains could not run in the tunnel. That's still true today. But with recent improvements to facilities just outside the tunnel, it is possible to run diesel trains to stations equipped to handle transfers well. On the Reading side, the rebuilt Wayne Junction makes an ideal transfer point. On the Pennsylvania side, 30th Street Station's suburban platforms could be re-extended to handle the extra trains. Service of this type could be operated more frequently as well, and it could be done with smaller crews than are required for the mainline railroad trains. More frequent off-peak Regional Rail service would not only be good for Center City, it would unlock the potential for transit-oriented development and redevelopment of our region's suburban town centers as well. Given all the upside potential, SEPTA would be wise to give this idea a good hard look. Read more at http://www.phillymag.com/news/2014/01/30/septa-regional-rail-lite-rapid-transit/#Zu6h2yFbqOfOj4Cg.99 ==== 1.1.3. a Definition | Transit Revitalization Investment District (TRID) / per the 2035 Plan The Transit Revitalization Investment District Act of 2004 (TRID) is Pennsylvania legislation that promotes transit-oriented development. TRID designation accesses planning monies, prioritizes state funding, and allows value capture areas that function like tax-increment financing districts for funding transit improvements.

Wayne Junction and TOD / Transport Oriented Development > REPORT : The Case for TOD (2007) / TOD refers to a mixed-use development in close proximity to a public transit station, which provides a community with a variety of transportation options, multiple uses in a compact setting, and pedestrian-friendly design. If done well, TOD can confer a variety of benefits to residents and to a region / Building Walkable & connected neighborhoods Image from CargoCollective site MAP : slide show: Case Study 003: Economic and Transit-Oriented Development, Wayne Junction The reconstruction and modernization of Wayne Junction Station is SEPTA’s most ambitious and complicated station renovation to date. ...a total project cost of over $20 million. The Wayne Junction project is not only about making improvements to a train station, it is part of a much larger and coordinated project: a Transit-Oriented Development or TOD. In addition to SEPTA, various other public, non-profit, and private entities are undertaking efforts that leverage Wayne Junction’s high-frequency, quality, multi-modal public transportation for neighborhood revitalization and economic development. More information about these coordinated efforts are on the reverse of this page... SEPTA has committed to investing in one TOD project every year. So what is TOD and how does it make neighborhoods livable and sustainable? TOD is more than just construction or renovation of houses or shops close to a transit station, rather it is development that creates “location efficiency”. Location efficiency allows people to be automobile independent by providing convenient access to jobs, housing, shops, and community assets such as schools and cultural institutions by clustering them near transit. Transit is the catalyst for community growth and revitialization in a TOD. TOD is sustainable because encourages a healthy lifestyle by promoting walking and biking for daily commutes and errands; frees up money used for personal vehicles to be spent on other needs; and creates a sense of community and place by clustering activities and destinations. == > PDF-SEPTA : http://www.septa.org/sustain/pdf/Wayne%20Junction%20Case%20Study.pdf Wayne Junction Quick Facts: Location: Gateway to the Nicetown and Germantown neighbrohoods, 4494 Germantown Avenue, Philadelphia, PA 19144. History--: The architects were Wilson Brothers & Company. Constructed: 1901, for the Reading Railroad and is on the National Register of Historic Places. Routes: Regional Rail: Airport, Chestnut Hill East, Fox Chase, Lansdale-Doylestown, Warminster, West Trenton Lines; Route 75 Trackless Trolley; Bus Routes 23 & 53. Ridership: Over 190,000 riders annually, across all rail, bus, and trackless trolley lines. Weekday ridership at the train station averages over 600 passengers. Project Cost: Over $20 Million. / Project Completion Date: Spring 2015. Nicetown Court 1 == Nicetown Court II - from UniversalCompanies In a neighborhood short on new developments and long on challenges, just about any project is welcomed. In Philadelphia's Nicetown, a transit-oriented development (TOD) project known as Nicetown Court II is being viewed as a key piece in the neighborhood's comeback puzzle as it would bring low-income housing and retail to the community around the Wayne Junction train station. Nicetown Court II is designed with 50 low-income rental units and ground-floor retail, according to Richard Redding, the director of the Community Planning Division of the City Planning Commission. The complex would be at the intersection of Wayne and Windrim Aves, across the street from Wayne Junction. The apartments would be mostly two- and three-bedroom, with a few four-bedroom units. In addition, Redding adds there would be around 5,000 sq. ft. of retail, which could be frequented by Court residents, other Nicetown residents, or train commuters. . . . There will be a stop for SEPTA’s Route 23 bus right outside the Court that can take residents to Northwest, North, and South Philadelphia, and Center City. The complex is also a pebble’s flick away from Wayne Junction. “This is a train station that is being re-constructed,” says Redding, who adds that this development is in line with his agency’s TOD plans for both Nicetown and Germantown. = > (2012) : http://www.flyingkitemedia.com/devnews/redding42412.aspx

The Long term, Property Cycle in the USA is contra-cyclical to Asia. . And so, property there may perform well, while it is weak or falling in Hong Kong, China, and some other countries in Asia . . This is one of the reasons why I am investing in Philadelphia. I do think Philly may show some impact from a weak stock market (if we see that). But Philly property is not overvalued in the way that it is in NYC, etc

The Long term, Property Cycle in the USA is contra-cyclical to Asia. . And so, property there may perform well, while it is weak or falling in Hong Kong, China, and some other countries in Asia . . This is one of the reasons why I am investing in Philadelphia. I do think Philly may show some impact from a weak stock market (if we see that). But Philly property is not overvalued in the way that it is in NYC, etc

Worth a listen / or a viewing Author of ‘The Martian’ thrills Lab employees Sept 2015 He's funny ! Which makes this very easy to listen to Here's an interview: Adam Savage Interviews 'The Martian' Author Andy Weir - The Talking Room Adam Savage, Astronaut Chris Hadfield, and Andy Weir Talk 'The Martian' Published on Oct 29, 2015 Recently, Tested hosted a screening of 'The Martian', the new film based on the acclaimed book by Andy Weir. After the screening, Andy and astronaut Chris Hadfield joined Adam Savage on stage to discuss the movie, space technology, and NASA's real mission to Mars.

REVIEW OF OPERATIONS - GROUP RESULTS . For the financial year ended December 31, 2015, total revenue of the Group decreased by 46% to HK$9,528 million because of fewer residential units sold compared to a year ago. Correspondingly, total operating profit decreased by 48% to HK$6,955 million. Revenue from property leasing increased by 7% to HK$8,330 million driven by continual growth of mainland China and Hong Kong portfolios. Underlying net profit attributable to shareholders decreased by 53% to HK$2,700 million. When including a smaller revaluation gain on investment properties against a year ago, net profit attributable to shareholders decreased by decreased by 53% to HK$3,211 million, Earnings per share decreased similarly to HK$2.37. Revenue and Operating Profit HK$ Million----- Revenue ----------------------- Operating Profit------ --------------------- : -2015: -2014: change : : -2015: -2014: change :: Property Leasing : : Mainland China : 4,625 : 4,354 : + 6 % - : : 3,005 : 3,090 : - 3 % - : : Hong Kong ----- : 3,705 : 3,438 : + 6 % - : : 3,105 : 2,897 : + 7 % - : Property Sales -- : 1,198 : 9,814 : - 88% - : : 0,845 : 7,419 : -89 % - : ------------ TOTAL : 9,528: 17,606: - 46% - : : 6,955: 13,406: -48 % - : The board recommended a final dividend of HK61 cents per share for 2015 (2014: HK62 cents) to be paid by cash on May 18, 2016 Shopping Malls Our eight shopping malls in mainland China collectively generated HK$3,287 million rent in 2015, up 6% year-on-year. The eight shopping malls are located in six cities on the including two each in Shanghai and Shenyang, and one each in Jinan, Wuxi, Tianjin and Dalian. The last two are the newest. Riverside 66 in Tianjin commenced operation in September 2014 and Olympia 66 in Dalian was unveiled on December 18, 2015. Amidst a challenging retail environment in Shanghai, total rental income of our two flagship malls in Shanghai, Plaza 66 and Grand Gateway 66, was up 6% year million. Plaza 66 and Grand Gateway 66 posted 9% and 3% rental growth to HK and HK$1,196 million over a year ago, respectively. The two malls continued to enjoy positive rental reversions in 2015. Their occupancy rates both stayed at 97% at the reporting date. Retail sales of the malls at Plaza 66 and Grand Gateway ... despite sliding high-end sales on the Mainland. Our asset enhancement programs in Shanghai were progressing well... . . . Our newest mall, Olympia 66 in Dalian, was unveiled on December 18, 2015. This 220,000 square-meter landmark building in Dalian is currently our largest shopping mall in mainland China. The mall is designed to bring fascinating entertainment, leisure and shopping experiences to Dalian with a world auditoriums has 400 seats. Against the backdrop of weak retail spending and with most international brands either contracting or freezing new shop openings on the Mainland, 124 tenants representing occupancy of 21% had commenced operations at the reporting date. Another 83 tenants accounting for additional 33% are fitting out at the same time. When including committed tenancies, occupancy rate reached 63% at the end of 2015. Office Revenue of our office portfolio in mainland China leaped 9% to HK$1,203 million in 2015. The whole office portfolio comprises five Grade A office towers, including three office towers in Shanghai, i.e. two at Plaza 66 and one at Grand Gateway 66, plus one and Forum 66 in Shenyang which commenced operations in October 2014 and January 2015, respectively. Total rent of the three office towers in Shanghai retreated 1% amidst an increasing supply of offices space. Revenue of the Plaza 66 office towers retreated by 2% year-on-year because of acceptance of marginally lower rent in order for quantum expansion by world-class tenants. Regular renewals and new lettings were achieving rent at the top range of the market. ===