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jmajek t1_jeghy1r wrote

Reply to comment by Slobotic in 47-story apartment building is planned above CVS store at 19th and Chestnut by ColdJay64

>Give wealthier people more places to live in CC West and they'll be in less of a rush to gentrify neighborhoods that are currently affordable.

Excited for the building but is this really true? I'm seeing $3-7k for luxury 2 bedroom rentals in the area. https://www.apartments.com/rittenhouse-square-philadelphia-pa/2-bedrooms/luxury/

I would def choose to buy then pay that price. Also, if someone has that kind of budget I doubt they are looking in Grays Ferry, Cobbs Creek and etc

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UndercoverPhilly t1_jeglb0h wrote

When that Atlantic Building first renovated and opened a few years ago their 1 bedrooms were $1999. So they are now at $2795 for a 1 bedroom, just to show how they keep increasing. I'm not saying that anything in there should be under $2000, just that they will keep raising rent to keep up with new buildings starting at $2500.

People who lived in that 1500 Locust building were paying $1800 a year ago for a 1 bedroom and now they start at $2450. I've heard of people who had to move out of there and find somewhere cheaper.

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