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Philadelphia Developers See Cause for Optimism, But Challenges from City's Tax Structure

"There is an irrepressible march that is moving forward of improvement in the city," says Bobby Fijan, a partner in Cross Properties. Hear the complete panel in our audio podcast.

Panelists at the Center City Proprietors Association "Meet the Developers" panel were, from left: David A. Nasatir, vice chair, Obermayer Rebmann Maxwell & Hippel, moderator; Paul L. Badger Jr., president and CEO, The Badger Group; Bobby Fijan, partner, Cross Properties; Zak Klinvex, director of acquisitions, Post Brothers; Logan Kramer, CEO and founder, Design Pro Development; and Greg Reaves, principal and managing member, Mosaic Development Partners Panelists at the Center City Proprietors Association “Meet the Developers” panel were, from left: David A. Nasatir, vice chair, Obermayer Rebmann Maxwell & Hippel, moderator; Paul L. Badger Jr., president and CEO, The Badger Group; Bobby Fijan, partner, Cross Properties; Zak Klinvex, director of acquisitions, Post Brothers; Logan Kramer, CEO and founder, Design Pro Development; and Greg Reaves, principal and managing member, Mosaic Development Partners (Steve Lubetkin Photo/StateBroadcastNews.com)

PHILADELPHIA, PA—Commercial real estate development in Philadelphia’s burgeoning neighborhoods is facing a generally good economic climate, with only a few clouds on the horizon in the form of increasing labor costs, lack of skilled construction crews, and uncertainty about city tax policies, according to a panel of developers.

“There is an irrepressible march that is moving forward of improvement in the city,” says Bobby Fijan, a partner in Cross Properties. “Whether it’s restaurants and neighborhoods and creativity, and that sort of energy feels like it has just taken hold and it’s just going forward.”

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Steve Lubetkin

Steve Lubetkin

Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].

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