Daily News | Philly area developer Bill Glazer warns a commercial real estate slowdown is coming
labs. Ceiling heights at least 12 feet, we have 14. Floor load capacity, 200 pounds per square foot. Vibration tolerance. Engineering tolerance. Curtis was built for heavy printing presses.The Public Ledger was broken up into condominium ownership units. So they can’t do this.
Philadelphia became a leader in converting buildings from offices to other uses. One thing it has going for it is a lot of historic buildings, which [qualify for] tax credits — that’s really helpful. Costs are one of the big challenges in converting offices to apartments. Tax credits are really helpful.
Philadelphia hasn’t had such extraordinary high [prices as New York and other big cities], and it doesn’t fall to great lows. We haven’t had a lot of speculative projects that would add too much supply to the market. And we have some developers who have arranged some sensational projects as we come into this part of the cycle — Ron Kaplan [PMC] with his high-rise towers on the Schuylkill, Robert Zuritsky [Parkway Corp.] finishing the Morgan Lewis headquarters [2222 Market St.
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