Ribbon Factory Update?

lauraska's picture

Hey,

Does anyone who lives up in the "North of Fishtown" area know if there's any progress being made on the old Ribbon Factory? They were really getting into the work in the fall, having redone the parking lot, taken down the smoke stack, and having workers arrive at early hours of the morning with sounds of banging and demo inside. But then all work STOPPED for about three months. I heard nothin'. Now, there are some lights that have been one for days and one lone car parked outside the place. Is M&G, or whatever it's called, just abandoning the project until the market turns around? Just curious.

tudor's picture

There was a thread on this

There was a thread on this on PhillyBlog recently:

http://www.phillyblog.com/philly/showthread.php?p=395446

Sounds like there is some cost pressure that is at the least making them think of moving prices up.

lauraska's picture

Thanks, Tudor. It's just so

Thanks, Tudor.

It's just so frustrating, sometimes. I know I'm not saying anything new, but my block has four lots that have been purchased by developers who have been claiming for at least a year that they are going to build new homes. And I'm right around the corner from the Ribbon Factory and progress on that seems to have come to a hault. So instead of new development, we have empty lots (and factories) that have become nothing more than trash heaps and dangerous playgrounds for kids...especially kids who uses them as access to the roofs and backyards of occupied homes. (As can be proven by the graffiti on the SECOND floor exterior wall of my house.)

I know there's no law against it...but "speculation" SUCKS.

tudor's picture

Yup. Even on a small scale I

Yup. Even on a small scale I think there's a lot to be said for not biting off more than you can chew. There are a lot of houses for sale all over where people have bought them to rehab and then just ran out of money to do it all. Often you still can't live in them, even with the improvements that have been done. The lots are worse though.

lauraska's picture

Just wanted to revive this

Just wanted to revive this thread to say that the new windows they have started putting in look AMAZING! I thought the project had stalled, but they've been working like crazy the last couple weeks. Just the windows make a huge difference.