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Sugarhouse Casino - The drama continues in Philadelphia

By
Real Estate Agent with The Somers Team at KW Philadelphia

 Sugarhouse Casino - The drama continues in Philadelphia

The never-ending controvery over casinos in Philadelphia continued this past week with two interesting updates regarding the Sugarhouse Casino:

Casinos in Philadelphia ?1.  Sugarhouse Casino Picks Up Foundation Permit - This could mean that construction can finally move foward.  However, there are still additional hurdles for Sugarhouse such as whether they can build on state-owned riparian land, the necessity to receive sewer permits and permission from the Army Corps of Engineers regarding ongoing arccheological studies.

2. PA Supreme Court Appoints Referee to Oversee Casino Disputes in Philadelphia - This referee should be versed in kung fu, self defense and wear bullet proof gear due to the strong feelings that are felt on both sides of the issue.   On a serious note, this move seems to benefit the Sugarhouse Casino to make sure that there are no more unwarranted delays from the City of Philadelphia.

 

It is a very controversial issue in the city.  On the one hand, the immediate jobs benefit could beneft the City of Philadelphia immensely, not to mention the new jobs that would be created and the tax revenue that the City is in dire need of.  The original plan was that this could allow for the long awaited tax reduction in the Business Privledge Tax that could help bring companies and jobs back to the City.  One argument is that the longer the City waits on this, the greater risk there will be on the budget crisis in additon to not participating in such a vast stimulus the Casino could provide, both short term and long term in nature.

On the other hand, there is the risk that a Casino on the waterfront would increase the crime rate and provide significant traffic congestion.  Further, the neighborhoods such as the Northern Liberties Neighborhood Association are very concerned in terms of how a casino so close will impact the area.   Other concerns relate to gambling addiction and the comparisons of how other cities like Atlantic City were negatively impacted after casino development.  Further, with the City finally having a Master Plan by Penn Praxis for the River, the concerns are that casinos do not fit well into this plan.

Being a Northern Liberties resident, I would certainly like to see development on the River as it has been a wasteland for decades.  I think the most important aspect for the neighborhoods would be for public access to the river as well as designated green space.  Therefore, it would become a destination.

I guess the question is should a casino lead the way for future development and become that destination ?  It seems like a decent fit next to Waterfront Square.  Perhaps it will be the best of both worlds, having a casino and public access to the River  ? But then again, are the negatives just too risky ?

What are your thoughts ?

The Somers - Chris and Stephanie Somers

Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

This is a Fantastic Blog and GREAT NEWS!smile

HelpfulHannah your Friend in Philadelphia

Apr 05, 2009 04:45 AM
The Somers Team
The Somers Team at KW Philadelphia - Philadelphia, PA
Delivering Real Estate Happiness

Hannah - Thanks for stopping by.  It seems like Sugarhouse finally has the go-ahead but the story always seems to take twists and turns weekly.  It is a sensitive issue as you know in the City, but especially so for both Northern Liberties and Fishtown. 

Apr 05, 2009 05:09 AM
Patricia Kennedy
RLAH@properties - Washington, DC
Home in the Capital

In this part of the world, neighbors are fighting any sort of gambling venue - there are a lot of slot machine proposals floating around, especially in Maryland.  The opponents are concerned about gambling addictions and unsavory characters getting involved.

Apr 05, 2009 06:01 AM
The Somers Team
The Somers Team at KW Philadelphia - Philadelphia, PA
Delivering Real Estate Happiness

Patricia - Yes, those are some of the major concerns here in Philadelphia as well as crime and traffic.  It is tough for the states and cities as they are looking for ways to increase revenue.  Philadelphia is receiving tax revenue from the state but has yet to move foward with either 2 proposed casinos as there has been delay after delay.  Now the State is saying they are going to cut off that revenue and not long after, the city says they are not holding up the process.   It is an interesting story !  We are not sure what the make of the whole thing !

Apr 05, 2009 06:08 AM
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

It has worked out very well for the folks in Bensalem,Pa ...(food for Thought)

Apr 05, 2009 09:57 AM
The Somers Team
The Somers Team at KW Philadelphia - Philadelphia, PA
Delivering Real Estate Happiness

Hannah - That is a great point and something folks should consider in evaluating the positives and negatives of these 2 proposed casinos.  I have only heard good things regarding the Ben Salem casino. 

Apr 05, 2009 10:10 AM
Michael Fowler
Fowler Realty Quad Cities - Davenport, IA
Broker, Owner Fowler Realty

Nice blog.  Everyone likes to hear about a casino.

Take care,

Mike

Apr 05, 2009 11:10 AM
Anonymous
Sean Dawes

It is doing quite well in bensalem.  I was there the other night enjoying some music and playing some games.

I hope sugarhouse does come as that area in my opinion could use an overhaul and they will do some nice improvements (parks, restaurants etc.)

 

Great blog entry.

Apr 05, 2009 11:59 AM
#8
The Somers Team
The Somers Team at KW Philadelphia - Philadelphia, PA
Delivering Real Estate Happiness

Michael - Thanks for the compliment !  Yes, casinos are a good topic.  Where we live, it is a controversial topic as well !

Sean - Thanks ! I have not been to the Bensalem casino although I have heard good things.  Glad you had fun !  I also think the Philadelphia Riverfront area could use a complete overhaul. 

The Sugarhouse casino is one of the few companies willing to invest the money in that space.  If they get denied, I cannot imagine anyone else taking the risk in this economy.  I also think the improvements will eventually be well received including public access, green space, and the parks and restaurants you mention.  It could be a great destination if done correctly.  That would hopefully be for the whole Riverfront... from Fishtown to Old City and beyond in each direction.  If so, that could certainly help real estate values in both directions as well : )

It will be interesting to see what the next twists and turns in the story will be !

 

Apr 05, 2009 12:47 PM
Anonymous
GRASSOS MAGIC THEATRE

THEY SAY THE CASINOS WILL BRING CRIME, CRIME IS ALREADY HERE THE CASINOS WILL ONLY CLEAN IT UP. GO AHEAD SUGARHOUSE CONGRADULATION AND GET STARTED.

Apr 06, 2009 07:24 PM
#10
AMBER NOBLE GARLAND - Top Real Estate Expert, Property Tax Appeal Specialist & Author
Strategic Marketing Expert & Relocation Specialist Serving New Jersey and nationwide! - Marlboro, NJ
- The Agent You Can Trust To Deliver REAL Results!

I am really torn about this topic.  The debate for this has been going on for years since back when I was still in college at Temple U.  I agree.....the waterfront in Philly is way underutilized.  Besides the Moshulu, Penns Landing and Chart House, what really exists there?  Everytime I go to Baltimore I get ticked off because they have such a nice waterfront that is thriving and beautiful. Philly could be that and so much more if people would think outside of the box and get beyond their fears!

Apr 10, 2009 11:46 AM
The Somers Team
The Somers Team at KW Philadelphia - Philadelphia, PA
Delivering Real Estate Happiness

Grassos - I am excited about the public access to the River that the casinos could bring, not to mention the other destinations such as nice restaurants and so forth.  Thank you for the comment !

Amber- I could not agree more.  I used to live in Baltimore and was amazed what they did with their Inner Harbor.  Their riverfront is awesome and definitely something that Philly should strive for.  You are right, there is not much there besides Penns Landing, Moshulu and Chart House... where the Sugarhouse would be is just wasteland.  If the Sugarhouse does not go forward, will anything in the future go forward ?  At least they have the capital to pave the way for development and river access to the public.  We live right around the corner from there and are frustrated that there is no place for us to walk to besides Penn Treaty Park.  It is a sensitive issue and I understand why folks are so against it too.  We will see what happens.  Definitely let us know the next time you are in town !

 

Apr 11, 2009 02:04 AM