Monthly Archives: November 2015

There are many things that go into a community being strong economically. One of those things is the real estate market. According to a report recently released regarding real estate in Philadelphia, the market is doing well.

While new construction seems to be popping up all over the place, not all commercial developments involve constructing new buildings. In some cases developers spend large amounts of money redeveloping buildings already in existence. This is illustrated in the purchase of 401 N. Broad St., a year and a half ago by Netrality Properties, an affiliate of Amerimar Enterprises.

US House of Representatives passes resolution to establish the North American Free Trade Agreement.

There are many issues that could arise the course of a construction project. They may be between the property owner and the developer or contractors and subcontractors who have been hired to work on the project. While some issues are resolved as they arise, others result in litigation. Construction defects are could lead to a lawsuit being filed. Multiple things fall under the construction defect umbrella. We will address some of them in this post.

As any developer likely knows, when it comes to building projects, zoning can be a help or a hindrance to the process. Zoning rules not only designate how land can be used, but provide guidelines regarding the designation of structures and buildings as well. These rules are made at the local level by zoning commissions appointed by local politicians and can impact not only the businesses that exist in a specific area, but also the demographic of those who reside there.

When a developer seeks to put a development plan into place there are many issues that could arise. Depending on the project, these could include problems with purchasing property, securing funding and working with architects and engineers to create a design. In addition, in some cases it could entail working through disputes with the community regarding the project. The developer of a residential high-rise planned for a site in the Rittenhouse Square area is dealing with this very thing.

According to a recent analysis of office space in the city of Philadelphia, it is attracting many out-of-town investors. Based on information from commercial real estate services firm Colliers International, more out-of-town entities haven secured office-floor space in the city than since 2007. More specifically, according to CBRE Global Investors, 74 percent of the office square footage located between Schuylkill and the Delaware River that has been sold since the start of 2015, has been purchased by investors not located in Philadelphia.

We are talking about condominium association special assessments, the assessments that pay for unusual common area expenses. These are different from the regular payments (also called assessments in Pennsylvania statute) condo owners make to cover common area maintenance and shared expenses, like insurance or utilities.

In our series With condos and co-ops, ‘common’ may not mean ‘shared’ last May, we discussed the differences between condominiums and cooperatives at some length. The fundamental difference, of course, is that you buy into a cooperative, but you do not own your apartment outright. In a condo, you buy the apartment; everything from the paint in is your responsibility. Your monthly or annual dues go toward common expenses, including maintenance of common areas, property insurance and, in some cases, utilities.