Globally there is a slow road to recovery in the office market lead by shifting needs from end users, with owners, investors, and lenders reevaluating strategies taking into account interest rate and valuation concerns. A change has been the focus on wellbeing and work-life balance.
Post-pandemic, with some level of remote work here to stay, the global real estate industry is tracking an unprecedented reassessment of the office asset class. To paraphrase Mark.
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"The real beauty of PA Society weekend is that civil and respectful conversation isn't just commonplace it is expected," wrote Pennsylvania Society president Elizabeth Preate Havey in a recent op-ed.
Alterra Property Group and JKRP Architects have proposed a six-story, 352-unit apartment complex with more than 20,000 square feet of commercial space at the southwest corner of 42nd and Market Streets in West Philadelphia. The site sits in an area that projects to see continued population growth amid the Schuylkill Yards development project in University City. The nearby neighborhoods have a history of residential displacement, which has prompted pushback from affordable housing advocates against further development.