Around the Block: 2/28/25

2/28/25

Witty takes, can't-miss Philly updates, insider info, and curated listings - by Jeff "City" Block

Spring Market/Good News for Philly

Hamilton Hall in 1851

Image courtesy of the Library of Congress via hiddencityphila.org.

Hi Readers,

I am always looking for some good news to share, so here is some recent local news and information:

1. It is not every day that the good guy wins, the right policy decision is made, and the future of the City of Philadelphia comes out on top. Well, that is exactly what happened with the bankruptcy auction of University of the Arts’ Hamilton Hall--the winning bidder was Scout, the developer of the Bok Building. There are multiple layers of positivity to this story, which you can read in the Inquirer here, here and here. (The Philadelphia Inquirer did a superb job covering this story).

Hamilton Hall is situated as the keystone to the Avenue of the Arts. In the Bankruptcy proceeding, the favorite to win the bid was a residential developer of apartments. While they at least planned to include an art gallery and some space for artists, at its core, Hamilton Hall would become an apartment building, which would have marked a significant loss for the arts on the Avenue of the Arts. Scout on the other hand is in the position of creating a Center City version of Bok—including local maker spaces, artisan businesses, and bespoke vendors—and did you know that the Bok has a wait list of 600, so filling this space will be a breeze. What a perfect use for this historic building at this seminal Avenue of the Arts location. A win for the arts and the city. And that apartment developer actually won the bid for an apartment conversion across the street--a perfect use for that particular building. So a win for everyone.

Also, for a fascinating history of Hamilton Hall, designed by John Haviland in 1824, and the past 200 years of architecture on South Broad Street, see this fascinating article from Hidden City.

Final Note on this topic--in the early 70s, I went to Pre-K (then called nursery school) at the Jewish Y (now Gershman Hall) noted in this Hidden City article. That YMHA building stands catty corner to Hamilton Hall.

2. The Philadelphia Tax Reform Commission came out with its long-awaited report, and it came through with some important proposals—Eliminate the Business Income & Receipts Tax (“BIRT”), reduce the Wage Tax below 3%, and raise the minimum wage to $15/hour. The BIRT puts an onerous tax on the city’s businesses and affects mostly small businesses. It has long been a killer of city business and our economy. The same with the Wage Tax. These recommendations are meant to play out over the next decade and of course still need to be approved by the City Council and signed into law by the Mayor. Philly’s taxes are a true mess, and you have got to start somewhere. Read all about it here.

3. Real Estate sales nationwide are at longtime lows, but Philly continues to be steady. This early spring market is off and running, and things are getting busy. If you are looking to buy or sell this spring, now is the time to reach out. If you want to discuss a more extended timeframe, please reach out as well.

4. Philly is Super Bowl Champions. GO BIRDS!

5. Now we need the Phils to win the World Series, the Flyers to make some solid trades and have an awesome draft, and the 76ers to win the NBA Lottery. Trust the Process! Oy vey.

Have a great weekend everyone!

Warm regards,

Jeff

Spotlight Property

Featured Listings

Center City West

1811 Chestnut Street, #501

2 BD | 3 BA | 1337 SF | $525,000

University City - BRAND NEW LISTING!

835 South 49th Street

5 BD | 2 BA | 2754 SF | $629,000

Rittenhouse Square - PENDING

1515 Locust Street # 301

2 BD | 2.5 BA | 1855 SF | $695,000

Germantown

54 E Penn Street

3 BD | 2.5 BA | 2452 SF | $545,000

Fox Chase

709 Chandler Street

3 BD | 2 BA | 1600 SF | $445,000

University City

5040 Larchwood Avenue

3 BD | 2.5 BA | 1700 SF | $525,000

Cobbs Creek

6200 Ellsworth Street

Triplex | 3015 SF | $495,000

BREWERYTOWN - PENDING

3026 Baltz Street

2 BD | 2 BA | 960 SF | $247,500

Cobbs Creek - PENDING

5759 Catharine Street

3 BD | 2 BA | 1122 SF | $200,000

Graduate Hospital - Brand New listing!

2639 Bainbridge Street

3 BD | 1 BA | 1026 SF | $469,000

Know Someone Looking to Buy or Sell?

As always, please know that I’m humbled by and appreciative of your introductions and referrals. If you have a friend, colleague, or family member that is in need of Expert Real Estate Representation, please have them contact me.

Be assured, I will do my best to exceed their expectations! Thanks for taking the time to read this issue of Around the Block.

GO BIRDS!! GO PHILS!!

Some imagery in this e-newsletter was sourced via visitphilly.com and Canva.