News
"THOUSANDS OF NEW UNITS"
September 7, 2011
 |
| That headline is what O'Neill Properties Group's Brian O'Neill tells us he has under way, including the Parisian in NJ and new complexes in Valley Forge and Uptown Worthington in Malvern (rendered above). “We're just highly underbuilt,†he says. Brian will be speaking at next week's Bisnow Philadelphia State of the Market event at the Hyatt at the Bellevue (tickets here but going fast). He's seeking sites for projects in Philly, DC, and NY. Demand is being fed by a “move-down†trend into apartments, including “divorced fathers getting kicked out of their houses.†Or to put it another way—demand for new bachelor pads. |
 |
| We also spoke with parking magnate and prolific developer Parkway Corp's prez Rob Zuritsky (also speaking at our State of the Market next week) who says parking demand has finally stabilized after three years of falling, including at this Parkway deck at 12th and Walnut. These are signs that hotel occupancy has improved in Philly and corporate layoffs have slowed. Come hear Bob on September 15 (next Thursday)—he says he'll have a pretty big announcement during the event (so be there to get the scoop). |
