A weekly roundup of real estate news, compiled by Suburban Realtors? Alliance week of 10/27/2023
Incoming Bucks County Association of Realtors president Stephanie Garomon cut the ribbon on a newly shaded bike rest area in Quakertown’s Park at 4th. A Realtor placemaking grant was used to install the canopy, and future upgrades will include a bike rack, new benches and signage.
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Weekly News Briefs Scroll down for full text of articles ? GENERAL
General ?
Freddie Mac adopts ANSI measuring standards for square footage Freddie Mac will adopt the ANSI Z765-2021 (American National Standards Institute) measuring standards as of Nov. 2, following the adoption by Fannie Mae last year. Appraisers will be required to use ANSI standards for measuring, calculating and reporting square footage of properties that require an interior and exterior inspection on loans sold to Freddie Mac. “The majority of the time, the appraiser doesn’t know whether the lender is selling the loan to Freddie Mac or to Fannie Mae, so it has been typical practice for appraisers to default to ANSI measuring standards ever since Fannie Mae adopted this requirement in April 2022,” said Michelle Czekalski Bradley, a Pennsylvania certified general appraiser and USPAP instructor. Bradley noted that many in the industry question whether FHA, VA and USDA will adopt mandatory ANSI standards in the future. In the past, Bradley has noted that there isn’t one definitive source for determining square footage of a dwelling. She added, “In my opinion, everyone using different standards of measurement causes confusion to the consumer. And measuring mistakes are one of the top reasons resulting in lawsuits against appraisers.” Freddie Mac has published an ANSI FAQ page?on its website. Read more at the PAR JustListed blog. Source: PAR JustListed; 10/25/2023
PA hits record low unemployment in September According to a recent report from the Pennsylvania Department of Labor and Industry, the state set a new record low with its unemployment rate dropping to 3.4% in September, a decrease of one-tenth of a percentage point from the previous month. The rate is the lowest since records began in January 1976. The national unemployment rate remained static from August at 3.8%. Read more here. Source: LevittownNow.com; 10/23/2023
NAR advocates for worker classification clarity The National Association of Realtors (NAR) recently submitted a letter to the House Small Business Committee for a hearing?examining the rulemaking effects out of the U.S. Department of Labor (DOL). The DOL has jurisdiction over employment opportunities for workers across the country, and its policies impact all industries, including professionals in the real estate market. In the letter, NAR advocated for?clarity and consistency from policymakers in an effort to minimize disruption and uncertainty around whether a worker is classified as an employee or an independent contractor. The letter also explains the benefits of the bipartisan Direct Seller and Real Estate Agent Harmonization Act (H.R. 5419), which incorporates the?Internal Revenue Code's?statutory protection (26 U.S.C. §3508) for qualified real estate professionals as non-employees into the?Fair Labor Standards Act (FLSA).?DOL is currently undergoing an FLSA rulemaking examining worker classification, and NAR has advocated for the same Internal Revenue Code recognition in that regulation. Source: NAR.realtor; 10/25/2023
Home surveillance registry raises concerns Lehigh County’s latest law enforcement tool lets residents with video doorbells or other home surveillance cameras join a cloud-based registry that allows police to find them quickly after a crime and request their footage. For investigators the service is procedurally time saving. Critics, however, say surveillance registries are just another tool in an increasing erosion of privacy propelled by technology, following street cameras and license plate readers. Source: Daily Local; 10/23/2023? ?
Bucks ?
Development for Hulmeville Hill approved, number of units still in question Hulmeville Borough Council recently gave Superior Holdings LLC permission to develop 45 acres on the Hulmeville Hill. Council approved by a 4-to-2 vote a conditional use to build on the property. Superior Holdings developer Eugene Lorenzetti agreed to 37 conditions as part of the agreement, including that the historic Black farmhouse on the property will be saved. The approval could allow 33 apartments, 49 townhomes and 39 single-family homes on the property, but Council President Tom Wheeler said the approval process only means that Superior Holdings met the zoning requirements to build on the property. The number and types of homes developed will be addressed at future meetings. Lorenzetti is open to working with Hulmeville to make a community that would please the current residents and bring significant tax benefits to the borough. Source: Bucks County Courier Times; 10/21/2023
Wrightstown considers EIT rate reduction for 2024 The Wrightstown Township Board of Supervisors is considering a reduction in the township’s earned income tax rate for 2024. A final decision has yet to be made, but if it were to occur the rate would likely drop from 1.15% to 1%. The township earmarked 0.15% of the EIT for open space preservation — essentially paying back debt taken on to fund the protection of land against development. That 0.15% open space tax is no longer needed, because the township is done paying the debt. Supervisors and municipal professionals, led by Township Manager Stacey Mulholland, are still developing the 2024 budget in which the real estate millage rate and EIT will be established. Source: Bucks County Herald; 10/12/2023
Upper Makefield looks to hold the line on property tax, pay off open space debt Upper Makefield Township officials have reviewed a draft 2024 budget that would keep the township property tax rate at 6.45 mills. A mill is equal to $1 of every $1,000 of a property’s assessed value, so a residential property assessed at $70,000 would pay about $451 in township real estate taxes in 2024 if the millage rate holds steady. The draft also calls for finishing paying off debt associated with open space preservation. Township officials will continue working on the budget for next year. Visit the Upper Makefield Township website for meeting information. Source: Bucks County Herald; 10/12/2023
Bucks to collaborate with other counties for sustainable energy Bucks County commissioners recently voted to sign a memorandum of understanding (MOU) with Chester, Delaware and Montgomery counties as they explore options to purchase power. The MOU would allow the four counties, with help from the Delaware Valley Regional Planning Commission, to purchase energy as a block. A dedicated wholesale account is a unique electricity procurement mechanism currently utilized by other large local governments. It will allow the counties to access low, transparent and stable electricity prices. One of the goals is to purchase energy from sustainable sources. Source: Bucks County; 10/2023
Morrisville mayor resigns, nominations to fill the vacancy are open until Nov. 10 Morrisville Mayor Brud Anderson has resigned, citing “several extremely unfortunate circumstances both personally and professionally" as the reason. Anderson had a little more than two years left in his term. He was elected mayor of Morrisville in 2021. The borough will accept nominations through Nov. 10, and council anticipates filling the vacancy at the November meeting. Visit the Morrisville Borough website for more information. Source: Bucks County Courier Times; 10/18/2023
Bucks Realtors help make Quakertown park cooler The Bucks County Association of Realtors (BCAR) received a $7,500 placemaking grant from the National Association of Realtors, which was used for the installation of a shade canopy at Quakertown’s Park at 4th. The new canopy stands over the bike rest area at the corner of Fourth and Mill streets. Incoming BCAR president Stephanie Garomon cut a ceremonial ribbon on Oct. 17 to introduce the canopy, flanked by representatives from borough government, Quakertown Alive, BCAR and the Suburban Realtors Alliance, which helped procure the grant. Future upgrades will include new benches, signage, planters and a bike rack. ?
Chester ?
West Chester Borough considers tax hike West Chester Borough Manager Sean Metrick presented a nearly balanced 2024 budget proposal, but ultimately borough council must make hard decisions by Dec. 31 on how to balance the general fund. Metrick’s proposal included a 1% property millage rate tax increase, and used $130,000 of liquid fuels income for street lighting. Typically, most municipalities use the money collected at the pump from gas sales for road paving. The proposed budget is out of balance by about $56,800. Finance director Barbara Lionti told council that a 1% millage rate increase would raise taxes $11 for the average home assessed at $136,000. Council informally agreed to raise fees for the wastewater fund. Sewer fees might increase 3%, or about $157,000, to keep up with rising sludge hauling costs and salary and wage increases. Council will hold a hearing to approve a preliminary budget at the November meeting. Source: Daily Local; 10/20/2023
Tredyffrin planners set to review athletic field plan The Tredyffrin Township Planning Commission is considering a proposal from Tredyffrin/Easttown School District to construct athletic fields on a 19.9-acre tract near Conestoga High School. A meeting is scheduled for Thursday, Oct. 19, at 7 p.m. in the Tredyffrin Township building, 1100 Duportail Road. The tract was formerly a landscape nursery with paved areas and some buildings. The proposal calls for the construction of three athletic fields, tennis courts and a fieldhouse building. The approval for the project was previously granted by the township zoning hearing board. Source: Tredyffrin-Easttown Patch; 10/16/2023
Target and Chick-fil-A coming to West Goshen West Goshen Center owner Chris Robbins announced that a Target and Chick-fil-A are coming to the property. An almost 120,000-square-foot Target will occupy the space vacated by K-Mart, and a free-standing Chick-fil-A will sit in the southeast corner of the center. The Target is expected to open in spring 2025, and Chick-fil-A will likely open in the third quarter of 2024. Source: Daily Local; 10/19/2023?
North Coventry amends stormwater regulations North Coventry Township amended its stormwater management ordinance in 2023 to comply with new provisions of the Chester County and Pennsylvania Department of Environmental Protection. The changes provide for updated criteria for regulated activities, such as grading, excavation, swimming pool construction and other building construction. Learn more about stormwater management on the township website.? Source: North Coventry; Fall 2023
New Garden residents may face 120% tax hike Citing several threats to the viability of New Garden Township, Township Manager Christopher Himes proposed a real estate tax increase beginning in 2024 that would raise tax rates for homeowners as much as 120%. During a supervisors meeting on Oct. 16, Himes proposed a scenario that would raise millage rates from 1.72 mills to 3.9 mills. In a 57-page report, Himes took a wide-angle look into the financial picture of the township over the past several years that necessitates the proposed tax increase. He told the board that over that time the township has been bereft of “a master guiding vision” for its future and has been content to merely “keep afloat.” The increase would boost revenues to $3.27 million beginning in 2024. Township supervisors are expected to finalize the budget at their Nov. 20 meeting and pass a motion to adopt the increase — or not — at their Dec. 18 meeting. Read more here. Source: Chester County Press; 10/19/2023
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Delaware ?
Lansdowne drafts new comprehensive plan Lansdowne Borough has completed the final draft of its 2023 comprehensive plan. The plan provides an overall set of policies and recommendations for the future development, redevelopment and conservation of Lansdowne over the next 10 to 15 years. It helps to ensure that Lansdowne retains the qualities that make people want to live, work and enjoy recreational activities within the borough. The plan is not a regulation, but instead provides recommendations for suggested changes to the borough’s development regulations and recommends many other initiatives and strategies. A public hearing for the final draft of the comprehensive plan will take place on Wednesday, Nov. 8, at 6 p.m. Source: Lansdowne Borough; 10/18/2023
Radnor Township commissioners consider property tax hike for 2024 Radnor Township Manager Bill White presented a preliminary 2024 budget that would include a 2.1% property tax increase. The average residential property in the township is valued at about $672,000, so a millage rate increase of 2.1% would equal an additional $33. The budget resolution will be introduced at the board’s Monday, Nov. 13, meeting with a final vote expected at the Monday, Nov. 27, meeting.? Source: Daily Times; 10/25/2023
Upper Darby budget hearings to begin on Nov. 1 Upper Darby Township administrators presented a 2024 budget proposal that includes a 5.35% increase in real estate taxes, as well as increases in sewer and trash fees. A recent town hall meeting included discussion of a potential earned income tax, but that item was not included in the proposed 2024 budget. To cover an increased $9.1 million in costs, the administration is proposing the 5.35% millage hike, a $15 increase in the trash fee and a $15 increase in the sewer fee. The first of two public hearings on the budget will take place on Wednesday, Nov. 1, at 6 p.m. Source: Daily Times; 10/24/2023?
Plans for former Lamplighter clear zoning hurdle in Haverford A recent Haverford Township Zoning decision has given a local builder a partial victory on plans to build four apartments and a showroom at Jack Quinn’s Lamplighter Tavern, a long-closed landmark at Campbell Avenue and Darby Road in the Oakmont section of the township. The original structure dating back to the 1890s was built as a home. The Lamplighter Tavern opened in 1971. The Haverford Township Zoning Hearing Board approved a conditional use and parking variance requests for DMC Elite Properties for the former tavern. Neighbors expressed concern with potential parking issues. Source: Daily Times; 10/25/2023
Delco ballot drop boxes open Delaware County Elections announced that all county ballot drop boxes are now open, providing voters with more than three dozen locations to return their completed mail/absentee ballots for the upcoming Nov. 7 municipal election. Voters can visit the Delco Votes website for a complete list of drop box locations, including hours of operation. While most sites are 24/7, voters are asked to check the complete list of sites on the website to confirm addresses and times of operation.? Source: Delaware County; 10/20/2023? ?
Montgomery ?
New train station in Conshohocken to begin service on Nov. 6 SEPTA is putting the finishing touches on a new Regional Rail station in Conshohocken. The new station will feature high-level platforms, a new canopy over the platform and a new station building. The current station sits by Fayette Street, between Stoddard Avenue and Washington Street. The new station is located farther to the northwest, so as to keep the current station functional while the new facility was being built. Riders will be able to use the new train platforms on Nov. 6. Source: Morethanthecurve.com; 10/22/2023
Plan to demolish Ambler Freight House delayed SEPTA’s plan to demolish the Ambler Freight House has been delayed. Public pressure has been mounting to save the freight station. The Ambler Freight House was built by North Pennsylvania Railroad in 1855, along with a train station and passenger pavilion. The three structures were once known as the Wissahickon station. Some borough residents believe the historic structure has helped define Ambler as small-town America, and about 1,200 people have signed a petition calling for the freight house to be saved. SEPTA originally scheduled razing the structure for Oct. 21 but halted demolition to review plans from the Wissahickon Valley Historical Society to move and relocate the structure. The agency made the decision to remove the structure over safety concerns. Read more here. Source: Whyy.org; 10/19/2023?
Montco recruiting poll workers Dori Sawyer, director of elections for Montgomery County Voter Services, said the county still needs about 100 poll workers for the Nov. 7 election. The county’s Voter Services page has information on how to apply to be a poll worker. Source: Glensidelocal.com; 10/22/2023
Municipal projects earn Montco Transportation Program grants Three municipal projects will receive Montgomery County Transportation Program grants for the 2023 selection cycle. The grants are funded using the county’s $5 Vehicle Registration Revenue Fee. The 2023 grant awards total $1.02 million across three projects: Lower Pottsgrove Township - North Adams Street Bridge rehabilitation; Upper Dublin Township - Fort Washington Zip Ramp at Commerce Drive; and Whitpain Township - Jolly Road/Wentz Road Intersection improvements.? Source: Montgomery County; 10/19/2023
Cheltenham’s fall newsletter is available Cheltenham Township has released its fall 2023 newsletter. It includes a feature on the township’s facilities, comments from commissioners, police personnel updates, environmental topics, leaf collection dates, a staff directory and more. Source: Glensidelocal.com; 10/23/2023? ?
Philadelphia ?
Schuylkill Yards is a $3.5B, 14-acre development in West Philly A 14-acre, $3.5 billion neighborhood of glassy skyscrapers and manicured green spaces is slowly being built just west of 30th Street Station. Dubbed Schuylkill Yards, the development is a partnership between Drexel University, which owns the land, and Brandywine Realty Trust, the Philly-based real estate giant that built the nearby Cira Center and FMC office towers. Brandywine has so far completed one new building — a 28-story office, residential and retail building on JFK Boulevard — and this week it held a “topping out” ceremony for a 12-story life science building that’s under construction on Market Street. It has also renovated the historic Bulletin Building on Market Street near 30th into offices and lab space for Spark Therapeutics, and created an adjoining 1.3-acre public park, called Drexel Square. When they announced the project in 2016, Drexel president John Fry and Brandywine CEO Jerry Sweeney described it as proof of the city’s economic vitality, as well as an opportunity for “inclusive development” that would directly benefit lower-income residents of surrounding West Philly neighborhoods like Mantua, West Powelton and Belmont. Fry has vowed not to “disrupt the fabric” of those neighborhoods. The developer is providing funding for community organizations and says it’s encouraging tenants to give work to local businesses. Read more about the project here. Source: Billy Penn; 10/25/2023
Warehouse construction starts soon at demolished South Philly refinery The South Philly site of what was once the largest and oldest oil refinery complex on the East Coast is now 1,300 acres of mostly dirt, scrubby vegetation and lingering equipment used in the ongoing cleanup of the site. In the coming months, more than 1 million square feet of warehousing space is expected to rise on the former PES refinery site along the Schuylkill River. By the end of 2024, the first building at The Bellwether District could be standing, officials said. “This is much more than just a development project for us at Hilco,” said John Chen, president and chief operating officer of Hilco Global. “This is a generational opportunity to affect meaningful and significant change and to uplift a community.” The refinery shut down in 2019, after a massive fire and explosion. Chicago-based Hilco Redevelopment Partners bought the site out of bankruptcy for $225 million the next year. The company has been demolishing the refinery’s tangle of pipes, tanks and buildings ahead of schedule — and recently kicked off vertical construction on the southern portion of the site. Hilco Development Partners plan to create a 750-acre industrial and logistics complex on the southern part of the site and a 250-acre “innovation campus” on the northern portion. The company has mentioned likely uses including cold storage, last-mile delivery facilities, regional logistics, light manufacturing, and research and development, focused, for example, on pharmaceuticals. Source: PlanPhilly; 10/19/2023
Interactive map shows ballot drop box locations in city Drop boxes are open throughout Philadelphia to collect completed mail ballots for the 2023 general election. The City Commissioners’ Office started sending out Philly mail ballots the first week of October. Billy Penn has created an interactive map of Philadelphia ballot drop boxes. For more information on mail-in and absentee voting, visit the state’s Votes PA site. Source: Billy Penn; 10/13/2023? ?
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