Parking may become zoning issue in Philadelphia apartment project
7/21/2013 | Real Estate Blog
When a developer is looking to move forward with a project, there are a number of critical steps that must be taken before ground is broken. In addition to securing funding, a real estate developer typically has to seek approval for his or her project from a local zoning board. Right now, a residential-commercial complex is being considered by a Philadelphia zoning committee.
In the East Falls Neighborhood, there is a proposal to build an apartment complex with 146 residential units and over 9,000 square feet of retail space. The building is expected to be five stories tall and be a “net-zero energy” project. Supporters of this plan are excited about the unique aspects of the space.
During a recent zoning committee hearing, parking issues dominated most of the discussion about the plan. The current proposal includes 11 street parking spots and 120 spaces in an on-site garage. Local residents have raised concerns about the amount of parking stalls relative to the expected demand. One man indicated that there are a number of street spots available in the area, so there may be too many parking spots included in the current construction plans.
Developers hope to move ahead with construction later this year or early 2014. Of course, however, they will have to clear a few steps in terms of zoning first. Disputes during zoning approval can stall a project, which can create a major headache for developers. Seeking legal advice might be a way to help clear the way for a project to succeed from the very first to the very last steps.
Source: NewsWorks, “Ridge Flats proposal heads to zoning board next month,” Joel B. Frady, July 18, 2013