Philadelphia Metropolitan Area Real Estate Law Blog

On April 14, Wyatt, Inc., a subcontractor working for Turner Construction Company, filed a complaint against the company, alleging that it refused to pay for completed work and for a breach of contract. The plaintiff is seeking more than $5 million in damages via trial by jury.

Reports indicate that a Philadelphia elected official has introduced a bill to delay construction work on a controversial 32-story tower in that city. The legislation would place a one-year moratorium on building work at the Washington Avenue and Broad Street site. This would give critics of the development time to provide input before any final decisions are made concerning the controversial mixed use project.

With offices throughout Pennsylvania and New Jersey, our law firm offers effective legal counsel in a variety of matters pertaining to the construction industry. Backed by decades of experience, our knowledgeable attorneys have been assisting clients nationwide with construction law issues of all kinds. From drafting complex construction project contracts to resolving construction-related disputes, our goal is to help you get your construction project completed as quickly and efficiently as possible.

Philadelphia real estate investors should take note that U.S. commercial real estate values have stopped appreciating, according to an April report by real estate research firm Green Street Advisors. The news comes after six years of steady market growth.

Philadelphia new business owners as well as commercial property landlords are both operating in a culture of change. For decades, commercial real estate leasing was governed by a combination of written laws and regulations as well as customary business practices. During the last decade, changes in how businesses operate have caused major disruptions in the commercial real estate industry.

Pennsylvania real estate developers may be somewhat alarmed that loss rates on banks’ commercial real estate loans rose in the fourth quarter of 2015, according to a new report by Sageworks. Late last year, regulators announced that they would increase oversight of CRE lending activities by financial institutions after noting a loosening of underwriting standards.

Technological innovations available to real estate brokers and agents allow them to access data and communicate with buyers and sellers more effectively than ever before. No longer do Pennsylvania agents who are showing a property have to wait until returning to their office to access the latest comparable properties. Mobile technology brings the office to the field to allow the agent to immediately access the data and show it to the prospective buyer.

Throughout the Philadelphia area there is a demand for real estate. The way in which the property will vary depending on a variety of factors including where it is located. In many areas, mixed-use developments are popular. This type of development was recently completed in Philadelphia’s Center City. As is the case with many developments, the funding of the construction was a major component.

For many Philadelphia communities, zoning laws help to preserve the character of neighborhoods located throughout the city. For developers, these laws—which are created by zoning boards and planning agencies—can make it difficult to accomplish their goals. Fortunately, the existence of these laws does not always mark the end of a real estate development. In some cases developers may be able to secure approvals for their projects.

When it comes to the development of real estate, in many areas of the United States there is friction between the community and those seeking to develop the property. Philadelphia is not an exception. Currently, the neighborhood of Chestnut Hill is facing this situation.