NOUVEAU RENTALS

Brand-new, never lived-in luxury condos in Old City (122 New Street) available now! We still have a few apartments left. From 2 Bedroom 2 bath to 3 Bedroom 2 ½ bath. These spacious condos start at 1200 sq. ft up to 2700 sq.ft.

Innovative designs, spacious floor plans and elegant European appliances are the hallmark of our distinguished apartments, creating the perfect city oasis of comfort and luxury. With vast windows, dramatic apartment designs and modern European touches, the style of CREI is unparalleled.

The building amenities include: Hardwood flooring, Poggenpohl designer kitchen, stainless steel Miele appliances, granite countertops, large walk in closets, floor to ceiling windows, some balconies available, central air, spacious bathrooms, washer and dryer in unit, fire place, modern Security System and one covered parking spot included!

Rent starts at $2500/month

Schedule a Tour today. Call 800.960.CREI for more information. Press 1 for Philadelphia Innovations and 2 for Rentals

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Unit	Type	Sq.ft	Rent
2B	2BED 2.5 BATH	1510	$3,100
2D	2BED 2 BATH, BALCONY	1203	$2,500
3B	2BED 2.5 BATH	1510	$3,200
4B	2BED 2.5 BATH	1510	$3,300
5E	3BED 2.5 BATH, BALCONY	2051	$3,900
5F	3BED 2.5 BATH	2219	$4,200
6G	2BED 2.5 BATH, BALCONY	2289	$4,500
6H	3BED 2.5 BATH, DECK	2720	$5,500

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From certain vantage points, the asymmetrical American Loft Building commands attention on the Philadelphia skyline. In this exercise in bold geometry, the residential structure consists of interlocking, L-shaped sections of black and grey that contrast in a striking way. The L shapes don't fit together neatly but rather culminate in a multilevel roof.

Rising 11 storeys and 119ft above North American Street, the 38-loft building towers over two and three-storey structures in Northern Liberties, a semi-industrial artsy neighbourhood rapidly attracting the hip and young.

But the building, by architect Winka Dubbeldam of New York City's Archi-Tectonics, looks most distinctive close to the ground, because the sloped base appears to hover in the air.

AMERICAN LOFT BUILDING DESIGN

This aspect came in response to a major design challenge. The zoning envelope mandated that the structure stand on concrete columns over an open parking area. With ground-level parking, passers-by would have glimpsed unattractive views of cars, rather than feeling any sense of connection to the building.

Dubbeldam therefore sloped the parking area; cars enter the space at street level, proceeding downhill until they're one storey below grade. As they go, they pass over a grassy carpet sprouting from porous pavers. Dubbeldam thought greenery would make the concrete look friendlier.

To provide vehicle clearance, the bottom of the building is sloped, using the same angle as in the parking lot. In the lobby, this slope translates into a ramp and steps.

Also for the sake of clearance, the bottom of the building curves up into a rounded edge over the vehicle entrance. An Alucobond exterior made this possible, as the insulated aluminium panels can bend. Once again, the curve translates into the interior; the living rooms of two split-level townhouses feature concave concrete walls with built-in benches.

LOFT INTERIORS

Intent on avoiding the monotonous repetition typical of large buildings, Dubbeldam lent variety to the interior and exterior in a number of ways. First, she designed the open-plan lofts to be different from each other. There are two to six units on each floor, and some span floors. That made it challenging to find a space for the shafts extending through the building.

Irregularly positioned, the tall, thin one and two-light windows bring different amounts of light into each flat. They also make the grey façade resemble a punch card used in a voting machine or in a 1960s computer.

EXTERIOR DESIGN

Rather than being monolithic or monochromatic, the exterior features the interplay of light grey and jet black.

These hues, as well as multiple materials, exist on different planes. Grey aluminium (which reflects the shifting sky) appears to fit hand-in-glove with the deep black natural plaster. And yet they never meet. A curtain of glass hangs between them, both joining and separating the dominant parts of the facade.

Large cantilevered balconies with glass railings jut out from every unit, creating a sense of additional depth.

By JASON SHEFTELL
DAILY NEWS REAL RESTATE CORRESPONDENT
November 16th 2007

Before you start thinking I'm crazy, and you're saying, "Who the heck would commute from Philly?" consider that low housing prices make the City of Brotherly Love one of the leading homeownership markets in the country.

Just 68 minutes by train, Philadelphia is less of a commute for some New Yorkers than those living in Long Island, Connecticut or parts of New Jersey.

For freelancers, telecommuters, and corporate types who don't have to be in New York every day, Philadelphia is a design-conscious homeowner's dream. Maybe that's why empty nesters and recent retirees are flocking to the city.

You can get a townhouse for $325,000. You can live in a brand-new two-bedroom condominium a block from City Hall for $450,000. And you can live in a Ritz-Carlton residence with marble baths, a state-ofthe-art kitchen, and full use of the hotel's amenities for just $555,000.

Rents are an even better deal. A 1,200-square-foot loft will run you $1,000. A three-bedroom brick home in a neighborhood of artists costs $1,300 per month.

"A resurgence in real estate and investment has turned Philadelphia into one of the most livable and affordable cities in the country," says Mayor-elect Michael Nutter, who'll take office in February. "There is incredible vibrancy on a cultural level and an economic level."

Not hindered by any mortgage crisis or housing slowdown, Philadelphia has grown leaps and bounds to become the third-largest downtown population in the country, behind New York and Chicago. After years of depression that decreased its downtown population, Center City Philadelphia grew its population by 28% to 90,000.

"More than 40% of our downtown population walks to work," says Paul Levy, president and founder of the Center City business improvement district, one of the groups responsible for the Philadelphia turnaround. "That's more than any other city in the United States."


Getting from New York to Philadelphia

Taking Amtrak from Penn Station New York to 30th Street Station Philadelphia takes between one hour and eight minutes on the Acela high-speed train, and one hour and 26 minutes on a regular-speed train.

One-way tickets start at $43 for a regular regional train and $81 on the Acela. A business-class upgrade costs $22 on the regional train and $61 on the Acela.

A monthly pass for commuters costs $1,098, but that allows unlimited travel between the two cities on any train, excluding the Acela.

When I did the trip after work one night, I couldn't believe how fast it was. I hardly had time for a nap. On the taxi line outside 30th Street Station, a hipster student yelled into his cell phone how fast a ride it was.

Philadelphia is also accessible via public transportation. You can take the PATH train to Newark and then take New Jersey Transit to Trenton. (Or, from Penn Station, take N.J.

Transit directly to Trenton.) At Trenton, you can take SEPTA, Pennsylvania's train system, into Philadelphia. This entire trip costs less than $17, but it can take up to three hours.

If you drive, Philadelphia is 100 miles south of New York. It's a straight shot on I-95. The drive takes approximately two hours.



Old City: Loft Central

Just past Society Hill and a 10-minute cab ride to 30th Street Station, Old City is full of art galleries, loft buildings and furniture stores. At night, it turns into bar-hopping central where young adults wearing baseball hats and halter tops mingle at local breweries.

Located directly underneath the Ben Franklin Bridge near the Delaware River, the area has historic charm and an industrial feel. You can live in a 1,300-square-foot loft for $1,800 per month right next to Betsy Ross' home museum.

On some stretches, you can't walk 30 feet without seeing a "For Sale" or "For Rent" sign for a loft apartment. Miles & Generalis, the real estate agency and development group credited with building the local loft scene in the mid 1990s, has their office on North Third St. Their signs are all over the neighborhood.

"Loft living in these neighborhoods are for people who are looking for something truly special," says Alex Generalis, the firm's owner and a world-renowned sculptor who did the button on New York's Seventh Ave.

If you're looking to buy, Miles & Generalis has 2,000-square-foot reconstructed loft spaces with new appliances for $699,000. That's just $350 per square foot, which was the price in SoHo in 1989. For furniture, go to Mode Moderne on North Third Street. They have a great selection at fair prices.


Graduate Hospital: Up-and-Coming Fast Walk to Town

10-minute walk to Rittenhouse Square and the center of the city, the Graduate Hospital (G-Ho) area has a raw, almost haggard, edge to it. There are abandoned lots next to new construction townhouses next to simple rowhouses that lack the refined elegance and historic charm of Philadelphia's more established neighborhoods.

Popular with families looking for large living space close to Center City, the Graduate Hospital area has 2,300-square-foot three-bedroom homes available for $499,000.

This traditional African-American neighborhood has recently seen young professionals move into the area. I saw seven homes for sale on one block. Old churches on every corner and 200-year-old small rowhouses on St. Albans Place give Graduate Hospital an out-of-the-way feel. Locals love the friendliness of the Harlem-like area. Basketball jerseys and new Nikes are prevalent here.

"When I moved here, there were two people over 100 years old on this street," says Bob Rein-hardt, a teacher who lives on St. Albans Place where "The Sixth Sense" was filmed. "These garden blocks were for middle-class people. Thankfully, they still are. But proximity to Center City means a wealthier class is coming."

Recently, developer Toll Brothers converted the nation's first Naval Academy into an upscale gated community on the fringes of the Graduate Hospital area. Known as Naval Square, the development of replicated historic townhouses and apartments in the existing historic structures is drawing young families, local graduate students, and health care professionals. A one-bedroom in historic Biddle Hall costs $375,000.


South Philly: Small Italian Villages

Parts of Queen Village around Catherine St. are as pretty as the West Village. Historic townhouses with backyards and driveways down small alleys have red, green and blue shutters, three-stepped stoops and brass door knockers.

Three-floor townhomes known as "Trinities" have three small rooms, one on top of the other. In good condition, they can sell for $325,000. A 1,200-square-foot, 170-year-old home with a backyard garden is on the market for $409,000. The neighborhood has a slightly upscale bohemian feel, with coffee shops and cobblestone.

In adjacent Bella Vista, residents hang on stoops and frequent the local Italian establishments. The famous Italian market is in Bella Vista. So are cheesesteak makers Pat's and Geno's. It's slightly less green but with more of a neighborhood feel. A former U.S. ambassador to Rome grew up here. There's a historic street dedicated to fabric.

"The people in Queen Village are more opposed to change and a little older," says Emily Clinton, who moved from New York after college for less expensive rents and a lower-key life. "Bella Vista rents are slightly less expensive as well."

A two-bedroom, two-floor rental in a Bella Vista townhouse can go for as low as $750. Yes, you read that right, $750. In Queen Village, large one-bedrooms will go for the same price.

Debbie Zakhain, recently widowed at a young age, moved to Bella Vista from the suburbs.

"I hated being away from the city," she says. "And this neighborhood is Italian by history but gets more diverse every day. The Italian market has a Dominican section now." Still, I smelled tomato sauce and baked bread on most corners.


Northern Liberties: Cooler Than Thou

Think "cool and hip" when you think of Northern Liberties. Once a dilapidated area that was home to artists, horse stables and manufacturing plants, the neighborhood of Northern Liberties now houses a bowling alley-turned bar and condominium, modern rental lofts and a chic tapas restaurant called Bar Ferdinand.

"I like to think of Northern Liberties as a cross between Williamsburg and the Meatpacking District," says developer Bart Blatstein of Tower Investments, who is a pioneer in transforming Northern Liberties from an artist enclave to a more upscale environment. "Philadelphia, but especially Northern Liberties, might be the best housing bargain on the East Coast."

Blatstein became a controversial figure in Philadelphia when he began developing the 20-acre site of an old Schmitz brewery into 1,500 loft-like housing units. "Any change brings controversy," says Blatstein, 53, whose company is putting $500 million into the Northern Liberties area. "We're helping to transform a neighbor-hood. That's never easy."

Northern Liberties is also home to high design and architecture showcasing some of Philadelphia's most interesting new buildings. Gagan Lakhmna's Creative Real Estate Innovations commissioned two buildings from New York architect Winka Dubbeldam, the architect of Tribeca's V33 boutique condominium. One of them, American Lofts, is almost finished. The 11-story building will house 38 condos and two townhouses.

"These buildings are world-class architecture," says Lakhmna, who also developed Philadelphia's all-glass 101 Walnut with spectacular river views. "This neighborhood is ready for that. I want my company to lead this push toward better design in this city."

The building will be ready for move-in come spring. Residences start at $368,000.



Avenue of the Arts: Living in Culture


Broad St., once Philadelphia's busiest thoroughfare, was renamed Avenue of the Arts in 1993 by then mayor and now Pennsylvania governor Ed Ren-dell. Since then, Avenue of the Arts added 4,000 theater seats and high-end retail. A residential resurgence followed as historic conversions have become as prevalent as Philadelphia Flyer jerseys on the street that the new mayor hopes becomes Philadelphia's Fifth Ave.

The Aria, from New York-based developers Urban Residential, is a conversion of a 33-story Art Deco office building constructed in the 1920s. It's located one block off Avenue of the Arts.

"This building has two dimensions," says Christopher Martorella, CEO of Urban Residential, who is also developing the W Hotel in Philadelphia's emerging Chinatown neighbor-hood. "The bottom portion offers great value for the first-time homebuyer or young professional and the upper portion gets you incredible luxury and views."

Apartments in the Aria are going for $420,000 for a one-bedroom and $975,000 for a large two bedroom with skyline views.

Down the street, the Residences at the Ritz-Carlton Philadelphia is a 48-story building with views of City Hall and the adjacent Beaux Arts buildings. New York architect Gary Handel designed the building, which will stand next to the Ritz-Carlton Hotel.

According to Margaret Wilde, the project's sales director for developer Craig Spencer, 40% to 50% of current sales come from empty nest-ers moving from the suburbs.

"We added three-bedrooms to accommodate demand," says Wilde, who says current prices start at $555,000 for a one-bedroom and $1.8 million for three bedrooms.

Jan Talamo, who lived just outside Philadelphia in New Jersey, bought one of those three-bedroom units. Having just turned 50 with one kid in college and another in high school, Talamo felt the urge to get back to city life.

"The suburbs are nice, but there's nothing like living in town," says Talamo. "The Ritten-house area was a little too stuffy for me and my wife. The Ritz is next to City Hall and it lets us be more maverick but not lose any quality. Plus, the rotunda at the hotel with the new restaurant will be an incredible place to entertain."

French-chef Eric Ripert of New York's Le Bernardin will open up a restaurant in the hotel's refurbished 140-foot rotunda lobby.



Rittenhouse Square and Society Hill: Welcome to the Establishment


The two most established and oldest neighborhoods in town, Rittenhouse Square and Society Hill provide an upper East Side elegance. Yet in Philadelphia, both of these neighborhoods can be as bohemian as they are refined. Rittenhouse Square has many of the city's top restaurants, bars, apartment buildings and townhouses. Small tree-lined side streets filled with four-story townhomes dominate the landscape. When I was there, a man with a twirled moustache wearing a tweed suit carved an apple with a silver pocket knife. A woman painted a canvas on an easel.

While three years ago you could have snapped up a three-story townhouse for just north of $350,000, today you can get a one-story floor-through in a brownstone for that price. A three-bedroom, two-bath home with a garden costs around $549,000.

At the top end of the market, a modern new townhouse with a garage, large windows and elevator goes for around $3.2 million. Philadelphia restaurateur Stephen Starr, who also owns New York's Buddakan and Morimoto, lives in one of these residences. Historic homes of the same size, like the ones built by signers of the Declaration of Independence, sell for $7.5 million.

In Society Hill, home to the Liberty Bell and Constitution Hall, 1,600-square-foot historic townhouses over 140 years old sell for $899,000. An even older two-bedroom townhouse is on the market for $725,000. One-bedroom apartments in a broken up townhouse sell for $350,000. One-bedroom ground-floor rentals in these homes go for around $1,500 a month.

"This is historic living in one of the most prestigious and architecturally stunning neighborhoods in this country," says Joanne Davidow, Philadelphia's top broker with Prudential Fox Roach Realtors. "New York cannot match these prices."



West Philadelphia: The Biggest Turnaround


Twenty years ago, West Philadelphia was an academic slum. University of Pennsylvania students (including myself) were robbed at gunpoint on an almost nightly basis. The university had practically shut itself off from the community.

Today, the University of Pennsylvania has embraced the surrounding area, bringing in private investment and public confidence - turning West Philadelphia into a shopping, dining and living extension of Philadelphia's Center City neighborhoods.

"We made an active decision not to do things to the neighborhood but to do things with the neighborhood," says Anthony Sorrentino, UPenn's executive director of public affairs. "We tore down fences to our fields, inviting the neighbor-hood to use our facilities."

The Domus, a three-month-old high-end rental building on the corner of Chestnut and 34th Sts., draws local health-care professionals affiliated with university hospitals, as well as graduate students who want proximity to the school. The building has an outdoor pool, a screening room, and more than a dozen computers and flat-screen televisions in its modern lobby. Rents start at $1,799 for a one-bedroom and $3,199 for twobedroom/two-bath units.

The university recently purchased a 24-acre tract along the Schuykill River from the U.S. Postal Service for $50.6 million. It plans on turning the tract, formerly a shipping warehouse, into a public field, an office park and a residential hub.

"You cannot teach urban studies and not successfully practice it," says Sorrentino. "This will connect Center City to university grounds."



The Murano


Just a three-block walk to 30th Street Station, the Murano will add some flavor to the Philadelphia skyline. The 43-story, curved-glass building has 302

residences with amenities that include parking, a full-service gym, a lap pool and a sun deck. Additionally, all of the residences have some outdoor space. Some apartments have 16-foot ceilings.

The New York-based real estate firm Citi Habitats is marketing the project. They sold out the St. James, a high-end rental in Philadelphia's Society Hill that attracted professional athletes and local celebrities.

"Philadelphia has become a very competitive housing market," says Matthew Van Damm, the Citi Habitats executive running the project. "They thought our long experience selling in those kinds of markets would help."

One-bedrooms in the building start at $450,000. Two-bedrooms go in the high $600,000s.

"That's half what you'll pay in New York," says Van Damm.



Craig Spencer and the Residences at the Ritz


Craig Spencer looks right at home under the 140-foot rotunda of the Ritz-Carlton Hotel, which he owns. In a leather jacket and jeans, the Philadelphia native has taken his real estate development global, building upscale residential communities in Jackson Hole, Mexico, Hawaii and the Caribbean.

Best friends with Jon Bon Jovi, Spencer and the Jersey rocker own the Philadelphia Soul, the town's arena football team. They also have a foundation that builds affordable houses for underprivileged families.

Talk about high and low, Spencer's Arden Group's newest project is the Residence at the Ritz-Carlton Philadelphia, a towering development adjacent to the hotel, with views of City Hall and the surrounding city.

"This is world-class Ritz-Carlton living at not much more than $600 per square foot," says Spencer, who is donating funds to rehab a century-old square that fronts the residential building. "When it comes to good living, we blow New York away."



Joanne Davidow Top Broker


Philadelphia's top Realtor, Joanne Davidow doesn't pay any attention to market conditions. Whether real estate is booming or busting, she concentrates on one thing.

"I just sell," she says. "That's all I do." A tiny woman, Davidow packs a serious punch. What she lacks in size, she makes up for in hustle. From one-bedrooms on the market for $475,000 near the

Art Museum to historic mansions in Rittenhouse Square topping off at $5 million, Davidow can sell it all. She counts an I.M. Pei-designed house on the market for $1.059 million as one of her current listings.

"There is not a lot of inventory of very expensive homes in Philadelphia," she says. "When they come on the market, they sell."

Last year, Davidow sold $61 million worth of houses.

By Karrie Jacobs
Posted January 16, 2008

Early one morning a couple of months ago, I sat alone in a radio studio in Manhattan taping a discussion for the BBC about the housing bust. The other participants were economists, one in a studio in New Haven, the other in Washington, D.C. The moderator was somewhere in London. My role was to inject a note of humanity into a conversation focused largely on the global economic impact of bundling so many dodgy mortgages into formerly solid investment vehicles. Later, out on the street, I pondered the weirdness of that discussion. Eventually, I realized that we were talking about housing and the effect of the housing slump on the economy, but we weren’t talking about houses.

This suddenly struck me as precisely the problem. In the current boom-and-bust climate, houses—the actual places where people live—have become financial abstractions, like shares of stock. It’s as if we live simultaneously in two worlds: one in which housing exists to keep an economy driven by consumption from crumbling, and one in which houses exist to keep people warm, safe, dry, and secure.

But if housing is the problem, then houses are the solution. And it was houses—actual structures with floors, walls, and ceilings—that were the subject of a more recent conventional discussion I had in person, over coffee. This time I was in Philadelphia, a city of 1.5 million that has lost 26 percent of its population since the 1960s, where there are some 40,000 abandoned properties. That figure, according to architect Brian Phillips, includes about 25,000 vacant lots.

Phillips’s firm, Interface Studio Architects, is located in a building that originally belonged to a plumbing-fixture manufacturer. The surrounding neighborhood, South Kensington, is just north of the Northern Lib­erties, an area that in recent years has emerged as Philly’s version of Brooklyn’s Williamsburg. Founded three years ago by Phillips—a 36-year-old Penn graduate who has paid his dues at the large firm Wallace, Roberts & Todd—Interface is typical of many young firms around the country: Modernist in style and idealistic in spirit. “We were really in-terested from the get-go in Philadelphia’s changing status,” Phillips explains, “and optimis­tic about its future.” The firm’s specialty is multifamily residential and urban mixed-use projects, which often employ passive solar heating and other green strategies. Some projects are high-end condos, others are subsidized low-income housing. Interface has no finished buildings yet, but two are under construction.

The project that interests me is still in its in-fancy. The 100K House is a collaboration of Inter­face, a 29-year-old fledgling developer named Chad Ludeman, and a local custom-home builder, Level 5. Ludeman, the prime mover in this venture, is also the most untested player. His com­pany, Postgreen, was only nine months old when I met him in November. Decidedly scruffy, with long hair and a beard, he seemed at first glance like someone who’d be more likely to start a food co-op than lead a development venture. After talking with him for a while, though, it became clear that he’d done his homework. Until recently, he was a marketing manager for a tech company, but he wanted to run his own business. “I need to get out of my job,” Ludeman recalls telling his wife. “I need to do this now, or I’ll go crazy.”

Ludeman embarked on a research project, trying to figure out a way to build affordable, green Mod­ern houses in his own neighborhood. He financed the new business by selling the house he and his wife had rehabbed. Ludeman decided he didn’t want to go the fashionable prefab route but preferred to start a “stock-houses program” that would allow buyers to choose from a small inventory of designs, much like KB Homes or Toll Brothers. He thought his best bet was to use structural insulated panels (SIPs), a common cut-to-order wall, floor, or roof component. And he wanted to build these houses on a budget of $100,000. They would be small—1,000 to 1,200 square feet. (The average Amer­ican house hit 2,300 square feet last year.) Ludeman’s blog—yes, he’s blogging his way through the process—lists some arguments for the small dimensions: “Homeowners will be able to say things like, ‘I can fit five of my houses in your McMansion,’ or ‘My house is smaller than your garage.’”

Assuming they make it through Philly’s permit process, the collaborators are planning to put their first two 100K Houses on a lot in Kensington in early 2008. The houses will be Modern in style and built with recycled materials, state-of-the-art insulation and seals, passive solar heating, and Energy Star appliances, all points eligible for LEED-for-homes certification. “More aggressive greening is offered as an add-on,” Phillips notes. The houses will be oriented so that a photovoltaic array could be added in the future. One of them will be roughly 1,035 square feet with two bedrooms, which Ludeman hopes to price at about $215,000. The other will be a slightly larger two-bedroom that will sell for $245,000. “Hopefully, I’ll make a little bit of money so that my wife doesn’t tell me I have to close down my business,” he says.

These houses won’t be the first examples of Mod­ern architecture in the area. Gentrification has brought. Modernism to the Northern Liberties and beyond. Apartments in the American Loft tower, a flashy new 11-story condo designed by Winka Dub­beldam, go from $300,000 to $1.5 million. Never­theless, affordable, Modern, and green would be a breakthrough. Phillips says old row houses in the area can be bought for as little as $149,000, but prices for new Modernist houses with green amenities start at $500,000.

In my own cross-country search for low-cost Modern houses, most of the examples I dug up were in rural areas or in Texas cities where urban is a relative term. I never found anything in my range in the densely settled cities of the Northeast. But this $100K scheme seems perfect for Philly: the tiny row house is still the dominant vernacular form there, and the city is swimming in vacant lots.

Phillips says that much of this open space has been repossessed by the city, which only seems to want to “take down dangerous buildings, clean up lots, and put up fences.” As Interface associate architect May Narisaranukul puts it, “Everyone is used to the vacancy.” In one residential project where the firm specified storefronts to encourage vitality—Jane Jacobs 101—it actually had to draw up a set of cartoons depicting normal urban activities (gallery openings! coffee bars!) to explain the advantages of street life to a suspicious community. “People think storefronts encourage crime,” Narisaranukul says with a shrug. “Lack of density breeds a rural mentality,” Phillips says. “They forget they’re in a city.”

At this point I can’t say whether Ludeman’s inexperience as a developer will turn out to be an asset or a liability, but his lack of cynicism is certainly refreshing. And Phillips has what seems to be a realistic perspective of the scheme: “It’s not about profitability but about getting the darn thing done.” I like the fact that they’re going to build the first two houses and “do forensics” on them, and only then will they expand and put up a Web site that would allow future buyers to pick a model from the stock program. I also like that this is about houses, not housing. After all, maybe the way to tackle those 25,000 vacant lots is to fill them the same way they were created, one house at a time.

by solomon d. leach / metro philadelphia

JAN 15, 2008

CENTER CITY. As bright boutiques and high-end restaurants mingle with vacant, destitute storefronts, it’s apparent that Chestnut Street east of Broad Street is struggling to turn the corner as a commercial corridor. But some still believe success is near.

“It’s coming back,” said Ruthanne Madway, executive director and founder of the East of Broad Improvement Association, who remembers the eight-block stretch of Chestnut to Old City as a major commercial thoroughfare. “You look at the 1300 block of Chestnut. It’s kind of a wonderful picture of what Chestnut Street can be.”

With the recent additions of the hip Lucky Strike and West Elm furniture store, the block mixes dining, entertainment and upscale retail.

Meanwhile, on the 1100 block, developer CREI was recently approved for a 23-story boutique hotel and condo development complete with a five-star restaurant.

“The 1100 and 1200 blocks are not there yet, but this project speaks to that potential,” Madway said of CREI’s plan.

In recent years, larger tenants like Borders and Macy’s have helped boost the street’s foot traffic, but several dead spots remain. Between Broad and Seventh streets, 28 percent of the retail space remains vacant, according to international real estate firm CoStar.

“Where you don’t have a lot of frontage [property], it’s hard to make a big impact at once,” said development consultant Craig Schelter. “Certainly the presence of [the] Center City District moving down there has helped ... [but] it’s a slow process.

In the shadow of Market Street, Chestnut has not fully recovered from the time automobile traffic was blocked off from there in the 1970s, Madway said.

“You’re talking about an area that’s literally in the center of things,” she said.


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For some, revival isn’t a good sign

CENTER CITY. The arrival of more popular tenants on Chestnut Street has been good for some but a death knell for others.

Family-owned Society Hill Furniture, between 10th and 11th streets, is closing after 69 years in business. The store’s management declined to comment for this story.

“I think it’s all relative, too,” Bernie Mendoza, an employee at Capa Shoe Service and Leather Repair, “because now rents are all higher and stuff, so a lot of places that were here left.”

He credited new residential developments with helping to invigorate businesses.

by solomon d. leach / metro philadelphia

JAN 8, 2008

CENTER CITY. After putting up two residential developments near the Delaware River, a local developer is taking aim closer to Broad Street.

CREI, which stands for Creating Real Estate Innovations, received approval from the Zoning Board last week for a 23-story development with condominiums and the city’s first boutique hotel run by national chain GHM Hotels.

The project would also include a day spa, five-star restaurant and underground parking, replacing a shoe store on the 1100 block of Chestnut Street. CREI initially pegged the property entirely for condos in 2006, but altered the plans in the last year.

“Seeing market conditions ... and demand for hotel rooms, that is what kind of spurred the idea of developing the hotel with that,” said Rupam Patheja, CREI’s marketing manager.

CREI has completed two residential projects in Old City — the most impressive being a 12-story tower with 10 full-floor condos — and expects to finish two more in Northern Liberties this year. Both its American Loft and Le22 condo projects in Northern Liberties were scheduled to be completed last year.

Neighbors in the area support the hotel/condo project, especially given the efforts to revitalize the Center City blocks east of Broad Street.

“We thought it was an exciting project and very forward-looking,” said Ruthanne Madway, executive director and founder of the East of Broad Improvement Association. “It really had the potential to revitalize not only Chestnut Street east of Broad, but the tourism sector in the city.”

CREI did not reveal a cost for the project or say when it expects to begin construction.


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Is a boutique battle brewing?


CENTER CITY. If CREI is successful in building its boutique hotel and condominium development at 1122 E. Chestnut St., it would beat out plans by another noted Northern Liberties developer to build the city’s first boutique hotel.

Bart Blatstein, whose Tower Investments company is located three blocks from CREI’s office, has been working with residents to finalize plans for a boutique hotel on North Second Street in Northern Liberties. Blatstein’s group will return to the Zoning Board in March in hopes of receiving the necessary variance.

CREI said its project, designed by Winka Dubbeldam, figures to contribute greatly to the revitalization on East Chestnut Street.

“It will be one of the most desirable blocks to be in” when our project is finished, said Rupam Patheja, CREI’s marketing manager.

Luxury Briefing

issue 112 November 2007

Luxury Services

ROCCO FORTE COllECTION
RF Hotels has now rebranded as Rocco Forte Collectlon and is forging ahead with its programme of new launches. The group has Just re-opened Le Richemond in Geneva, (having refurbished the 130-year-old property under the guidance of Olga Poliui) and The Charles in Munich. Rocco Forte Collection is also working on iI Prague hotel, due to open in 2008 and a Marrakech location for 2009. Rocco Forte is also said to be seeking II suitable Manhattan property for lhe group's first US hotel.

lE ROYAL MONCEAU
La Royal Manceau hOtel on avenue Hoche in Paris is to be refurbished and rebranded under a new management contract with Raffles, and Will re-open in winter 2008. The refurbishment, to be overseen by Philippe Starck is to start in April and aims to achieve what the owners describe as "a 21st-century French masterpeice". On completion le Royal Monceau will have 152 rooms, five restaurants and bars and a landscaped garden. New additions include a solar energy-heated swimming pool and water recycling technology. There Will also be an in-house Fashion Advisor and Personal Shopper. le Royal Monceau is jointly owned by French entrepreneur Alexandre Allard and Barwa Real Estate, a Qatari development company. Designer PhiliPPe Starck said it will represent all that is good about modern French design: luxurious, balanced and a little bit sexy.

GORDON RAMSAY
Having taken on New York and Tokyo, Gordon Ramsay is now extending hiS empire to France. The chef is to open a restaurant just outside Paris which will celebrate the joys of British produce and cuisine. Due to open in spring 2008 the restaurant will be located at the Trianon Palace Hotel close to the Palace of Versailles. Signature dishes will include Aberdeen Angus beef, Balmoral venison, Cornish sea bass and Irish shellfish. The concept has not been warmly embraced by French restaurateur.

Gordon Ramsay has also Just opened a gastropub in Chiswick and hiS first Irish restaurant at the R'Il·Cariton in Powerscourt. The Devonshire on Devonshire Road is Ramsay's second gastropub follOWing The Narrow in Limehouse which opened in March 2007. This month sees the launch of a Prague restaurant named Maze at the Hilton Prague Old Town which Will be overseen by Philip Carmichael who previously worked at Ramsay's Maze restaurant in london. Gordon Ramsay has also said that he plans to open further restaurants in los Angeles, Amsterdam and Singapore.


GHM
Adrian Zecha's GHM Resorts IS to open three new properties, to be located In Cancun, Turks & Calcos and Philadelphia. Mayan Riviera which is due for completion in 2009. The $450m prOject will be built around the former Mexican Presidential retreat and will have 163 villas, 61 hotel rooms and suites and three restaurants. There Will also be a 2.000 sq ft Espa spa offering mayan inspired and ayurvedic treatments. The retreat will be designed by Jean Michel Garthy, the architect behind The Setai, The Chedi, Milan and One & Only Maldives, working with interior designer Jaya Ibrahim.

Later in 2009 GHM Turks & Caicos opens on North West Point, with 80 rooms and suites and 133 bedrooms and apartments. The 145 room Philadelphia property will open in 2010 with a l'atelier de Joel Robuchon restaurant.


NEVAI
Neva'i is a new boutique hotel due to open in Verbier in December, to coincide with Verbier Fashion Weekend. Set up by local hospitality group Kings Verbler, Nella - which means 'snow' in the local SWiss-French dialect - has 35 rooms and surtes and WIll offer an alternative 10 the chalets which dominate the accommodation available at the resen. The Elemis spa has a Tunash hammam, dipping pool and sauna and a terrace where drinks are served. There will also be a notable apres-ski offering. With it 75-eover destination restaurant and bar WIth outdoor seating on heated balconIeS overlooking the SWISS Alps and a four metre.long fireplace. A new version of the resort's Farm Club is also to open on the premises.

HIBISCUS
Having started lile deep in the countryside in ludlow, Shropshire, double Michelin-starred restaurant HIbiscus rs now moving to london. located on Maddoll Street, the restaurant is co-owned by husband-and-wife team Claude and Claire Bosi, who founded It in Its original incarnation in 2000.

CREI’s Aquella in Atlantic City designed as a ‘boaters’ paradise’

December 21, 2007

“Waterfront living” takes on a new meaning at Aquella, a luxury development being built on a peninsula in Atlantic City. Rather than “front” a river or ocean, the homes are surrounded by water, with floor-to-ceiling windows providing panoramic views. The development will feature 16 townhomes,seven estate homes and two small marinas. Each townhome comes with a deep-water boat slip; each estate home comes with two.

“It’s a peninsula, bound by Clam Creek and Snug Harbor. The homes are on Carson Avenue — the entire street is surrounded by water,” says Mitch Zitomer, realtor for Aquella. “It’s a boater’s paradise. You have a place to dock your boat, a beautiful home to live in and amazing vistas.”

Across the way are the Trump Marina and the Borgata — the much-heralded casinohotel that’s part of Atlantic City’s ongoing renaissance, which has brought a slew of high-end retail shops, fine-dining restaurants and casino upgrades like the Vegas-style Quarter at Tropicana. Aquella, with its innovative architecture and lavish details, fits right in with the city’s new and improved flavor.

Two renowned architecture firms, Cecil Baker and Associates and Qb3, collaborated on the project; each firm designed a selection of estate homes and townhomes. All of the homes feature top-of-the-line features and finishes, including Poggenpohl kitchens and Miele appliances; full-floor master bedroom suites on the top levels; balconies; elevators; parking; and, of course, the boat slips. The estate homes, which range from 3,500 to 5,500 square feet, also incorporate temperature- controlled wine rooms, rooms for boating equipment and decks with built-in Jacuzzis, and can be fully customized.

“The style of the architecture takes inspiration from the surroundings, but with a modern twist,” says Rupam Patheja, marketing manager for CREI, the company developing Aquella. “Cecil Baker’s style for Aquella has a nautical inspiration. All of the homes face the water, and the front side of each home is entirely glass, top to bottom. It’s a very modern development. And with the boat slips — a rare amenity — it’s the ultimate destination for boaters.”

Aquella recently earned CREI an International Property Award for Best Development. CREI’s new condominium in Old City Philadelphia, 101, also received an International Property Award on a national level, and is one of five properties in the world now nominated for Best Development Internationally. CREI’s Aquella in Atlantic City designed as a ‘boaters’ paradise’ December 21, 2007

When CREI envisioned a new luxury condominium at Front and Walnut Streets in Philadelphia’s trendy Old City neighborhood, it had a one-of-a-kind, benchmark-setting development in mind. Looks like the vision came true: 101 is this year’s recipient of the International Property Award on a national level, and is nominated for the Best
Development Internationally — one of five properties in the world to be up for the award.

“The awards are through CNBC, The New York Times, and The Daily Mail, in England. They look at different real estate developments around the world to see what matches their standards — they judge on everything from marketing to finishes and amenities,” says Rupam Patheja, marketing manager for CREI. “101 qualified because it’s a great building in a great location. The space and design are spectacular. It’s one of a kind. We say it’s 101 — one of one.”

Each full floor at 101 is one residence; the
top two floors make up a bi-level penthouse,
which features it’s own lap pool. “The units
have glass on three sides, and balconies on two
sides. There aren’t many high rises in Old City,
so the skyline is very visible. On one side are
great views of the water, on the other side dramatic views of the city,” says Patheja. “And the penthouse is especially dramatic — the master
bedroom has a glass wall that collapses completely
and opens out into the lap pool.”

That level of high-tech luxury is echoed in all of the units, which offer wrap-around floor-to-ceiling windows, Poggenpohl kitchens, Sub-Zero and Miele appliances, 10-to 11-foot ceiling heights, maple and cherry flooring and the option of a Creston homeautomation system. Security is ensured via a doorman and a state-of-the-art security system, including thumbprint access to the residences. The four remaining units are available finished or “raw,” so buyers can customize to their exact specifications.

“A person buying a unit of this caliber wants
a lot of customization, so instead of buying a
unit and then redoing it, we offer a raw space,” says Patheja. “The buyer can chose the floorplan, choose the flooring, the Poggenpohl kitchen — all based on their needs and aesthetics. At most condos in Philadelphia you buy a unit as is. We offer something different. It’s part of CREI’s vision to have a building with standards that haven’t been seen in Philadelphia. To set a benchmark.”

101 is surrounded by Old City’s popular art
galleries, coffee houses, upscale restaurants
and vibrant nightlife. Inside, however, residents
find themselves protected from noise by a sophisticated curtain-wall system. “The location is unique — right in Old City, right near the water, very easy access to highways. It’s a very desirable address,” says Gagan
Lakhmna, head of CREI.

Also in Old City is CREI’s recently completed
Nouveau, a 16-unit condominium between Race and Vine Streets. A curtain-wall system in Nouveau (like the one in 101) creates a quiet space amid the excitement of the neighborhood. Luxury amenities — plasma-screen TVs, European-style fireplaces and energy-efficient climate control systems — add to the appeal. A few units are still available.

Just north, in Northern Liberties, American Loft is going up on the corner of American and Brown Streets. The development is comprised of 38 condos in an 11-story building, plus two townhomes and a private gym. World-renowned architect Winka Dubbeldam designed the property.
Across the street from American Loft is Le
22, a collection of 22 townhomes in the 2,300-
square-foot range. Each home comes with
parking and a backyard.

In Atlantic City, across from the Borgata, Aquella will offer 16 townhomes and seven fully customizable estate homes. Each townhome comes with one private boat slip, and each estate home comes with two.

ATLANTIC CITY---They're custom built, pricey and according to these officials, Atlantic City's best-kept secret! It’s an exclusive look at some of the resorts newest luxury homes.

Aquella is one of Atlantic City's newest luxury community's, positioned on a peninsula that's bordered by Clam Creek and Snug Harbor, "You feel like you're on the water at all times," Mitch Zitomer is working with the developer: CREI which stands for Creating Real Estate Innovations.

The project includes 16 town homes and seven estate homes under construction across from the Borgata and the Trump Marina.

Floor to ceiling glass walls that have panoramic views, going to be a low rise, boaters' paradise with custom home development unlike anything Atlantic City has ever seen.

Zitomer says CREI has taken into consideration the neighborhood and environment surrounding this site to create a project-specific community, "You're no longer going to see transformers, everything has now either been put underground or is in the process of being put underground."

Officials say Atlantic City is going through a renaissance with more retail, dinning and entertainment complexes coming to town as well as new casinos and expansions to current ones, Zitomer says, are all good signs for these unique luxury homes.

Already, fifty-percent of the town homes are committed for, which Zitomer says is quite impressive considering the price tags, "The town homes are starting at one point three million dollars and the estate homes will be starting at two point five million dollars and upwards of four million dollars."

Most of the homes are expected to be completed by the end of the year.

To e-mail Veronica Dudo at NBC-40: vdudo@nbc40.net

PHILADELPHIA INQUIRER
Nouveau offers privacy in the heart of Old City
By Rachel Vigoda
Hollister Publication Services
11/17/2006

The Details
Name: Nouveau
Address: 122 New Street, Philadelphia, PA 19106
Landmark: Old City
Phone: 800-960-CREI
(Re/Max City Group, marketer for Nouveau)
Websites: www.creirealestate.com
www.nouveaucondos.com
Type of Housing: Condominium
Number of Units: 16
Price Range: $679,000 to $1.5 million
Developer: CREI
Amenities: Outdoor landscaping with a private garden and waterfalls, recessed plasma TVs, soundproof windows,included deeded parking spaces
Pets: Yes
Shops and Restaurants: Center City shops; abundant
shopping and dining options in Old City, including Charles Porter Boutique, Amada, Konak and Continental
Transportation: SEPTA bus, train and subway lines are within walking distance. The Ben Franklin Bridge and I-95 are minutes away.
Directions: Nouveau is located on New Street, between Race Street (eastbound) and Vine Street (westbound), in Old City, Philadelphia

For homebuyers seeking luxury and privacy,CREI is creating Nouveau, a 16-unit condominium in chic Old City, Philadelphia. The building, located on New Street, just north of Race, is already over 40-percent sold. Occupancy is scheduled for the first quarter of 2007.

“The location is very private,” says Gagan Lakhmna, head of CREI. “New Street wraps around. It’s a U-shaped street. There’s no outlet. And it’s 100-percent residential.”

The street itself may be secluded, but it’s next door to the art galleries, coffee houses, upscale restaurants and vibrant nightlife of Old City. A few blocks north are the funky, trendy bars and restaurants of Northern Liberties. Access to the Ben Franklin Bridge and I-95 is minutes away.

“We’re right near all the shopping and restaurants — everything’s right there in Old City,” says Lakhmna. “We’re two blocks from Market Street. The Betsy Ross house is 2 1⁄2 blocks away. It’s the heart of Old City.

But despite being in the center of the action, Nouveau’s residents won’t hear a thing: A glass curtain-wall system renders the condos soundproof, creating a quiet haven amid the bustle of the city.

“None of the outside elements come in,” Lakhmna says.

The two- and three-bedroom condos at Nouveau come with recessed plasma TVs; Poggenpohl kitchens with Miele appliances and Liebherr refrigerators; European-style fireplaces; floor-to-ceiling windows; and secured, covered parking (one space per unit; additional spaces available for purchase). Outdoor landscaping includes trees, waterfalls and a private garden.

“The units are high end. It’s a small boutique building,” says Lakhmna. “All of our buildings are very unique and different — it’s very important to us. It’s why we like to work smaller, as opposed to big buildings with 300 units, so we can give a personal touch.”

CREI is currently developing four other properties in Philadelphia, plus a waterfront project in Atlantic City.

Also in Old City,101 Walnut, features one condo per floor, with individual keyed elevator access and a state-of-the-art monitoring system. Each unit comes with two balconies, looking out over the city and the water.

In Northern Liberties, American Loft Building is comprised of 38 condos in an 11-story building, while nearby Le 22 features 2,200- to 2,300-square-foot townhomes with parking and backyards.

Also in Northern Liberties is CREI’s latest endeavor, Q Tower. The 13-story, 24-unit condo tower is being designed by architect Winka Dubbeldam and the Massachusetts Institute of Technology Media Lab.

Futuristic amenities, like robotic storage; smart controls for lighting, sound and air-conditioning; and RFID-controlled contact-less fast-pass access are being considered for the project.

“It’s our latest building, designed in collaboration with MIT,” says Lakhmna. “It’s a scientifically oriented building, with spaces that are harmonious with the way residents live. It’s being called the architecture of the future.”

Architecture of the Future

By KATE TAYLOR
Staff Reporter of the Sun
October 30, 2006


The line between cutting-edge architecture and performance or installation art is not always clear. To what category does a building constructed out of empty wine bottles — stacked by a robot over a period of 10 years — belong? Or a tent-house, erected with energy harnessed from a Thai water buffalo? Architecture or punch line?

These projects –– only the latter of which came to fruition –– are part of an exhibition at the Frederieke Taylor gallery in Chelsea focusing on five architecture firms from New York, Paris, Rome, Berlin, and Ljubljana, Slovenia. While some of the designs may seem outré, the architects, all relatively young, are already stars in their field. Some have work in the collection of the Museum of Modern Art. Each one, Ms. Taylor said, has the potential to someday be one of architecture's superstars.

The exhibit is called P.A.N. (Progressive Architecture Network), although the network is informal. The lead organizer is a New York architect, Winka Dubbeldam, who had a solo show at Ms. Taylor's gallery in 2002. Ms. Taylor, one of the few gallerists in Chelsea who exhibits architecture, later asked Ms. Dubbeldam for another project. Her suggestion was a group show of forward-thinking architects she knew through an annual conference in Orléans, France. Included in the exhibit is Ms. Dubbeldam's firm, Archi-Tectonics, as well as Jürgen Mayer of Berlin, Sadar Vuga Arhitekti of Ljubljana, R&Sie(n) of Paris, and IaN+ of Rome.("They have such impossible names," Ms. Taylor said good-naturedly, as she struggled to pronounce the last of these.)

The firms share an avant-garde sensibility and an adept use of technology. François Roche, the primary architect in R&Sie(n) — and the creator of both the wine-bottle building and the water-buffalo tent built for a Thai artist — may be the most far out of all of them, but Ms. Taylor suggests he has potential to receive major commissions. "This is very much like the phase that Rem Koolhaas went through [as a young architect] ––making drawings, critiquing other architects' practices," she said. "I could easily see him coming out of that and building a huge complex in Beijing."

Mr. Mayer from Berlin, who has several models and drawings in MoMA's collection, contributed one of the most beautiful models to the show: It is a model of a town hall he built in Germany –– a delicate design that hovers like a rectilinear snowflake in the center of a glass cube. According to Ms. Taylor, the design was burned or scratched into the glass with lasers.

Ms. Dubbeldam has attracted much attention in New York, most recently for a glass condominium that she designed (and where she now lives) on Greenwich street, in trendy far west SoHo. The building incorporates a 19thcentury warehouse, creating a dramatic but harmonious contrast between the brick warehouse and the wavy glass façade of the new construction.

Much of Ms. Dubbeldam's work involves putting various elements into loose juxtaposition, without formal or conventional connections. For a house she designed in upstate New York, photographs of which are in the exhibit, she placed what she calls the "hyperactive functions" –– cooking, heating, cooling, bathing –– in one central unit, so that the rest of the house can be large, open spaces. The house also has no hallways. "The house was a pretty simple budget –– it couldn't be too big," Ms. Dubbeldam explained. "One way to optimize it was to eliminate hallways, which are a total waste of space." In other words, what began as a budget constraint became a critique of an architectural convention.

What kind of relationship do the firms in P.A.N. share? Ms. Dubbeldam has a lot to say in the exhibition catalog about "scale-free networks," which she defines as networks "that obey a power-law distribution in the number of connections between nodes on the network." At any rate, the architects like exchanging ideas and being inspired by one another. The only official joint project for the moment is this exhibit, which will travel to the other four cities represented, with each firm finding the location and doing the planning in its hometown.

Asked if some of the wilder designs in the exhibit are more art than architecture, Ms. Dubbeldam responded immediately. "No, everyone who is there designed everything with the pure intention to build it," she said. "There might be ones which are more futurisitic or more avant-garde or based on an idea. Some were for competitions. But everyone was thinking it would be a built form and used by people." After a pause, she added: "But architecture is a mix between art and science, so we are always in between two things."

October 22, 2006

By Rachel Vigoda
Hollister Publication Services

The Details
Name: 101 Walnut
Address: 101 Walnut Street, Philadelphia, PA 19106
Landmark: Old City
Phone: 800-960-CREI (ReMax City Group, exclusive marketer for 101 Walnut)
Website: www.creirealestate.com
Type of Housing: Condominiums
Number of Units: 10
Price Range: $1,975,000 to $4.5 million
Developer: CREI
Amenities: One unit per floor, wrap-around floor-to-ceiling windows, balconies, secure parking
Pets: Yes
Shopping: Abundant shopping and dining options in Old City and Center City
Public Transportation: Walking distance to bus and subway
Location: The building is located on Front Street and Walnut Street (westbound) in Philadelphia.

A coveted Old City address and extreme luxury are drawing buyers to 101 Walnut, a new 12-story condominium tower by Philadelphia-based CREI (Creating Real Estate Innovations). Construction on the structure of the building is complete, and the units arealready 60-percent sold.

“The location is unique — right in Old City, right near the water, very easy access to highways. It’s a very desirable address,” says Gagan Lakhmna, head of CREI. But despite the location, filled with art galleries, coffee houses, upscale restaurants, vibrant night life and the visitors such amenities attract, residents at 101 Walnut will enjoy privacy. Each unit is its own floor, with elevators opening directly into the condo. Individual keyed elevator access and a stateof-the-art monitoring system provide security. A curtain-wall system blocks outside noise.

“The biggest thing in this building is that there’s just one unit per floor,” says Lakhmna. “It’s absolutely private.”

The ground level features a doorman-attended lobby with two elevators and an attached parking garage with a spot for each condominium. The top two floors make up a bi-level penthouse with a private rooftop swimming pool.

Seven different floorplans and a range of options are available to choose from. Units are purchased finished or “raw.” “We can customize to your liking,” Lakhmna says.

Expansive views from behind wrap-around floor-to-ceiling glass and from balconies — two per unit — look out over the city and the water. High-end features include granite countertops, Poggenpohl kitchens, Gaggenau appliances, 10- to 11-foot ceiling heights and maple and cherry flooring. Square footage, including balconies, is 2,850 (almost double for the penthouse).

With 101 Walnut, Lakhmna, along with CREI partners Harbir Singh and Billy Grewal, wants to create a distinctive property on the cutting-edge of real estate trends — a philosophy infused into all of the company’s projects.

“We’re very innovative,” he says. “We’re not the typical developers who keep on building the same thing. Each project is architecturally and functionally exciting. Each building is different.”

Also in Old City, Lakhmna is putting up Nouveau, located on New Street between Race and Vine Streets. Nouveau features 16 twoand three- bedroom condos with included secured, covered parking. Like 101 Walnut, a curtain-wall system in Nouveau creates a quiet space amid the excitement of Old City. Luxury amenities — plasmascreen TVs, European-style fireplaces and energy-efficient climate-control systems — add to the appeal.

Nearby, in Northern Liberties, two CREI projects are in the works: American Loft Building and Le 22.

American Loft is comprised of 38 condos in an 11-story building. What makes this one architecturally interesting, says Lakhmna, is the hidden underground parking lot covered by “grasscrete” — a porous concrete material with grass growing through it. “Another great feature is that the building is designed with a central core to make it more space efficient.”

Le 22 features 2,200- to 2,300-square-foot townhomes in a gated community. Each home comes with parking and a backyard — not your typical downtown residence.

Aquella, a waterfront development across from the Borgata in Atlantic City, offers custom-built town and estate homes. Parking and boat slips are included. The development spans an entire peninsula.

PHILADELPHIA MAGAZINE

Philadelphia's building boom will change the city's skyline - and its restaurant scene
September 2006
- By Ashley Primis

After leaving Le Bec-Fin in 2004, Chef Daniel Stern spent more than a year hunting for the ideal Philly locale for his first restaurant before landing the cozy, just-off-South former rowhome where Gayle thrives today. But not even 12 months later, Stern is undertaking a second project, as far away from Queen Village and the prototypical chef-run restaurant as it gets - in the spacious lobby of the modern Cira Centre.

Chef Marc Vetri, of 35-seat Italian Vetri, has made the same jump; his second eatery, a less formal, less expensive wood-oven bistro, will open in trendy newly constructed lofts near Broad and Fairmount. And Georges Perrier's main man Chris Scarduzio signed their ever-evolving brand onto a sprawling Comcast Center space before the building even broke ground. All this new construction is changing more than the city skyline. Back on ground level, developers want to fill the first floors of their swanky condos and high-tech office buildings with one thing: Big. New. Restaurants.

The current building boom combined with Philly's recent restaurant explosion gives us an opportunity to catch up in the scene-stealing, atmospheric restaurants often missing in this city of jewel-box favorites. Most of the high-profile blue-printed downtown buildings - like the Aria, Symphony House, the Barnes Tower and the Western Union Building - have slotted food-related businesses in their master plans. The approach has already proven successful in other towns; think of the six restaurants at New York's Time Warner Center, or San Francisco-based Kimpton Hotels, which always starts its projects with an anchoring destination restaurant. It's a model local developer CREI wants to emulate. "It will allow us to enhance our brand and the restaurant's brand and is good for the residents," director of sales Andrea Boelter says.

And it's just as appealing for the city's chefs. Amada chef-proprietor Jose Garces says he's been wooed by developers who often offer inducements like reduced or limited-time-free rent. The chance to custom-craft physical spaces makes new buildings attractive, too. Michael Duplantis, co-owner of South Street newcomer Crescent City, says putting his planned second venture in new construction is a prerequisite. Another bonus: Poor location will doom the fanciest restaurant, but Garces and Duplantis know developers won't pour millions into a building without evidence that and up-and-coming area has staying power.

For diners, this dynamic means more new restaurants. But it also means that more food entrepreneurs - relieved of some of the financial pressures of a start-up and the space limitations of traditional locations - will be able to pull together places where atmosphere and they are just as important as food, giving a sophisticated, trend-setting edge to more of our restaurants. We'll still adore our studio-size, character-laden favorites with Pottery Barn decors, but now we can look forward to impressing out-of-towners with Philly's newfound sleekness without always contributing to the annual Stephen Starr fund.

The Matchmaker
Defining your style is the first step toward finding the perfect home.
By Brieanne Valencoure Dyas
September 2006

Home buyers obsess about price and location, undoubtedly the biggest factors when deciding on a property. But looks count for a lot, too. When a building's aesthetic complements your style and taste, it's a pleasure to come home at the end of the day. And with Philadelphia's mix of old and new architecture, there's a beauty to please every beholder. Read on to find out which properties are a perfect match for you.

Your Motto: "I've worked hard for my money and want everyone to know it."
You Want: A shiny new skyscraper
Where to Find It: Market Street West and Northern Liberties
Until recently, Philadelphia was slow to grasp new building trends and only a handful of skyscrapers speckled the skyline. But thanks to a new demand for luxurious digs, residential towers are being built at a rapid clip.

For luxury your guests can't miss, check out the Residences at The Ritz-Carlton (10 Avenue of the Arts, 215-851-8000). It's not stature alone that makes this sleek and airy building so prestigous (though it is the tallest residence in town). "It's a five-diamond property that's associated with a five diamond hotel. You can think of the Ritx Carton's staff as a part of your home, working for you," says Diane Bryant of The Residences at The Ritz-Carlton.

Another luxe property is The Murano (2005 Market St., 215-952-2101), a tower featuring stunning design highlighted by curving blue glass concrete bands. The most coveted units will be inside the tower, but residents on lower floors will still enjoy floor to ceiling windows. Continuing the theme inside, the units will feature glass tiled showers.

And superhot Northern Liberties will soon be home to 101 Sky (101 Spring Garden St, 215-922-1101), one of the tallest buildings north of Vine Street Expressway. Gourmet kitchens with designer appliances and granite countertops are some of the feautures that make Sky a truly luxurious choice for city living. The units also feature floor-to-ceiling windows.

Your Motto: "Form follows function."
You Want: Modern
Where to Find It: The Loft District (between Spring Garden and the Vine Street Expressway)

Philadelphia may be nuts for history, but that hasn't stopped developers from creating dozens of modern residential lofts. These free flowing properties are characterized by expansive open floor plans with high ceilings that maximize city spaces. Converted from old buildings that date back to the manufacturing boom of the early 19th centurey, the units often feature industrial touches such as exposed beams, bricks and ductwork.

The Lofts at 1234 (1234 Hamilton St., 215-928-0221) is a building that harkens back to its industrial-era with a brick exterior that recalls its former life as a warehouse. Concrete ceilings (some up to 20 feet), pillars and floors intermingle with exposed original brick in the interior design.

The American Loft (717 North American St., 1-800-960-2734) is a residential building that pays homage to mondern design at every turn. Living rooms are as spacious as they are minimalist, and panoramic windows are omnipresent. Design concious appliances adn mondern fixtures in kitchens and bathrooms ensure that the sleek and contemporary aesthetic is a consistent in even the smallest of details.

Your Motto: "Style is forever."
You Want: Neoclassical revival
Where to find it: Above Market Street, Society Hill

House hunters who want timeless construction and head turning details will be wowed by a style known as Neoclassical revival. Because these buildings were often constructed for public use, they became dramatic living spaces when repurposed today.

The Breintrail Building, which served as a Bell telephone exchange (think operators and headsets), houses the Arch Street Exchange (1230 Arch St. 215-546-2700). The building is an industrial interpretation of the neoclassical style, with a mix of of original terracotta ornamentation and glass. "It's an interesting juxtaposition of the historic and contemporary," says Jill Rizen, one of the Coldwell Banker preferred agents handling the property. Today, the building comprises 35 lofts with 12- to 13-foot ceilings and 8-foot tall windows. The careful preservation of the Exchange's original maple hardwood floors keeps the industrial vibe intacts.

The most ornate example of neoclassical in Philadelphia is the Bank Building Residences at the Omni (421 Chestnut St., 215-545-1500). Built in 1857 as the headquarters of the Philadelphia National Bank, the building's most dramatic features include arched windows and an entryway with Doric columns that continue into the lobby. The interiors are just as stunning, with marble foyers, 8-foot doors and 10- to 15-foot ceilings.

Your Motto: "More Dior than Denim"
You Want: Art deco
Where to Find It: Near Rittenhouse Square, Washington Square

Art deco types often translate design descriptors like spare and sleek into words like boring and depressing. If you're one who prefers ornamental architecture to blank spaces, then these residences are sure to please.

At The Ayer (210 W. Washington Square, 215 790-5644), residences are welcomed by bronze doors carved with images of the building's history as home of the country's first advertising agency, N.W. Ayer and Son. The Ayer (pronounced as air) boasts original 8-foot tall windows and marble lobby complete with an original decorative frieze abd a collection of Egyptian sculptures.

At the Aria (1419 Locust St., 215-545-1577), interior design reflects the subdued splendor of the 1920s. Marble flooring in the master baths and hardwood flooring in the main rooms add an art deco touch, but residents are kept up to date with latest high end appliances.

Another reworked masterpeice is the Phoenix (1600 Arch St., 267-514-1600). This national historic landmark contains the original marble walls and wainscotting as well as opulent granite Corinithian columns. A few of the individual units even contain original wood paneling and stained doors. Best of all, the building houses a wealth of conveniences, including a restaurant and bar (Tir Na Nog), Starbucks, Phoenix Salon & Spa and a gym. What better way to mix new and old?

Philadelphia Inquirer
New Homes

Sunday, June 11, 2006

By Rachel Vigoda
Hollister Publication Services

CREI's goal is to build innovative properties around the world

Gagan Lakhmna’s foray into real estate wasn’t a surprise to anyone who knew him. “My family has been in construction for five generations, and I’m the sixth,” Lakhmna says. “I grew up on worksites.”

But from the beginning, Lakhmna knew that the business end of the industry was where he belonged. After earning an MBA in finance and marketing from Drexel University, Lakhmna spent 10 years developing various commercial ventures, including gas stations, car washes, and convenience, clothing and wireless-phone stores.

In 2004, with his business skills sharply honed, Lakhmna was ready to consolidate his efforts and make his big move. He founded Creating Real Estate Innovations (CREI), with an eye toward building pioneering, architecturally inventive real estate projects around the world.

Already, Lakhmna has four projects under construction in Philadelphia; one across from the Borgata in Atlantic City; and several more in the planning stages, in Florida, the Caribbean, Italy, Germany, France and Shanghai. Along the way, he also gained a 20-person sales-andadministrative team and two partners: friend Harbir Singh and brother-in-law Billy Grewal.

“We’re growing so rapidly,” says Lakhmna. “We’re only 1 1⁄2 years old, and we have about $70 million dollars of inventory. But we’re about 60-percent sold on our first launches.”

The three partners outsource the design, construction, marketing and public relations to industry experts — a decision intended to let CREI concentrate on uncovering emerging real estate trends and staying ahead of the curve. “We’re very innovative,” says Lakhmna. “We’re not the typical developers who keep on building the same thing. Each project is architecturally and functionally exciting. Each building is different.”

In the Philadelphia area, CREI is putting up intimate, small-scale communities. “If you look at each of our properties, the size and scope are very manageable,” Lakhmna says. “It’s not a behemoth 300-unit building, where you’re just a number. Every unit has been given that individual attention.”

On New Street, between Race and Vine Streets in chic Old City, CREI is building Nouveau — 16 two- and three-bedroom condos with included secured, covered parking. CREI is using words like “meditative” and “private” to describe the building, and it’s not just advertising jargon. A curtain-wall system renders the condos soundproof; Even though Nouveau is surrounded by the art galleries, coffee houses, upscale restaurants and vibrant ightlife of Old City, inside it’s a quiet haven. Luxury amenities, like plasma-screen TVs, European-style fireplaces and energy-efficient climate control systems add to the appeal.

Nearby, CREI is building the 10-story tower 101 Walnut. Each floor of 101 Walnut holds a single residence, allowing for unusually expansive views from wrap-around floor-to-ceiling windows. The units are available finished or “raw,” so buyers can customize to their exact specifications. Bower Lewis Thrower of Philadelphia is the architect.

Just north of Old City, in Northern Liberties, more CREI communities are in the works.

“Northern Liberties was supposed to be happening, but no one had really taken an interest in developing it,” says Lakhmna. “We went in and added something new and architecturally bold.”

American Loft on the corner of American and Brown Streets in Northern Liberties is comprised of 38 condos in an 11-story building, plus two townhomes and a private gym. What makes this one architecturally interesting, says Lakhmna, is the hidden underground parking lot covered by “grasscrete” — a porous concrete material with grass growing through it. “The parking lot slopes underneath, under what looks like a grassy knoll,” he says. “The building looks like it’s floating on top.”

Caribbean-inspired comfort is the essence of [Aquella], a development consisting of 16 town homes, seven estate homes and a marina building with a two-story condo situated on Carson Drive in Atlantic City.

Located across the harbor from the Borgata Hotel and Casino, [Aquella] spans an entire peninsula. It's just another example of the top-notch work by the leading real estate development company, CREI, a Philadelphia-based business responsible for the development of some of the most talked about properties in the city. With the help of Philly architect firms Cecil baker & Associates and Qb3, CREI envisions a space that's simple and clean in form, yet modern, comfortable and private.

The town homes include three bedrooms, three baths, a personal boat slip and one to two parking spaces. The seven estate homes have elevators, double boat slips and three parking spaces each. All homes - except the two-story condo situated on top of the marina building-contain a master suite and master bath on the very-private top floor. Look for the best in kitchens, appliances and hardwood flooring. The development of [Aquella] is in accordance with the Energy Star compliance guidelines, making it one of the most environmentally friendly projects in South Jersey.

--A.C. Confidential
May 24, 2006

NJPA Real Estate Journal

Properties located in Old City & Northern Liberties
CREI architects design new accomodations in Philly

Friday, May 12th, 2006

Philadelphia, PA - Creating Real Estate Innovation is pioneering the latest trend in real estate with it's development of innovately designed architecturally appealing accomodations in two of the city's hippest neighborhoods, Old City and Northern Liberties. All of the newly built homes will include the finest in decadent living, from Poggenpohl kitchens to Miele appliances. CREI's approach to real estate development is unique to Philadelphia region. The partners are dedicated to giving each of their properties a distinctive personality of it's own that enables it to stand out from all other buildings in its neighborhood.

CREI's most elite project in Old City, 101 Walnut, features full floor condos with two balconies each and 270 degree views of the city. The building also offers wrap-around floor-to-ceiling windows and individual keyed elevator access to provide maximum security. Also in Old City, Nouveau's tranquil garden provides residents an escape from the busy world outside. This peaceful environment is luxuriously mirrored in the condominiums features and amenities, which include floor-to-ceiling windows, recessed plasma TV's, fireplaces etc.

The architecture of CREI's Northern Life project is unlike any other building in Northern Liberties. Designed as a complex of modular condos and townhomes, the structure is one of the most energy efficient buildings in the city. Developers achieve this by using recycled and recyclable materials in construction. American Loft, also situated in Northern Liberties, is quite possibly the most innovative of CREI's developments. The building is structurally formed by three interlocking "L"s all made from different materials.

CREI will continue to influence future development in Philadelphia region by incorporating the newest in technology and comfort into the homes they build. Partnering with world renowned architects such as Winka Dubbeldam and the Massachusetts Institute of Technology, this rapidly growing company is constructing living environments unlike anything our region has seen before.

METRO, Philadelphia
CREI is one of few developers on the cutting edge

April 5, 2006
by Scott Pruden

For those who know a little about architecture or local history, the Philadelphia school of architecture is a known quantity.
There are plenty of great architects throughout Philadelphia's history, the most notable being names like Frank Furness, Louis Kahn and Romaldo Giurgola.

For many, though, "Philadelphia" and "great architecture" haven't gone together for a while now. Plenty of developers have built pretty or nondescript buildings, but very few have done much to put their personal stamp on a new building while breaking new ground stylistically.

The most obvious examples that leap to mind are the Liberty Place towers, which broke the "gentleman's agreement" among developers not to build higher than City Hall's statue of William Penn. Love them or hate them, these two towers added some glitz to Philadelphia and are responsible for giving us the distinctive "Emerald City" look that has become one of our trademarks.

The latest example is the Cesar Pelli-designed Cira Centre, which sits away from its multi-story brethren on the decidedly low west side of the Schuylkill River. Its faceted construction seemed to defy the conventions of assembling steel and glass while it was still being built. Now it sits as a striking example of what a little forward thinking can accomplish.

Unfortunately for those looking for homes that incorporate some forward thinking design, the choices have been few and far between.

Recently, though, Philadelphia has seen some growth within its limits of more progressive design in housing that does more than just give people a place to live - it also makes a statement about the designers, developers and residents themselves.
Some of the residential buildings making the biggest statement these days are under the umbrella of CREI, which stands for Creating Real Estate Innovations. The company, guided by the vision of Gagan Lakhmna, seeks to stir the pot of Philadelphia design and has already done so with building like Nouveau in Old City, the American Loft Building in Northern Liberties and 101 Walnut.

The buildings are so cutting edge, in fact, that Lakhmna said many in the city's trade unions couldn't wrap their minds around what he was trying to do. As a result, he's had to specifically seek out those within the unions who understand and are interested in what he's trying to accomplish.

Part of CREI's focus is on simplicity and sustainability. That involves using cutting edge techniques and technology, some of which is being developed in conjunction with the media lab at Massachusetts Institute of Technology.

Philadelphians looking for a place to live don't seem to have any trouble wrapping their minds around what Lakhmna is doing as they fill each structure his company builds.

And while many of them look significantly different from their other buildings around the city, it is Lakhmna's hope that someday CREI's buildings will be considered classics, as well.
"I would want, 50 or 60, years from now, someone fighting over my buildings the way they fight over the historic buildings today," he says.

Hot Places + Cool Spaces

Developer CREI, is taking the neighborhood higher - literally. American Loft (717 N. American St., 215.625.3650) is rising from a lot adjacent to the old Romanian Church. The sleek 11-story tower will bring striking contrast to its neighbors of two- and three-story row hosues and trinities. The 38 lofts and two town houses start off at $259,900 and take a turn upwards with the rising floors and added square footage.

Shop Talk: Before moving in, those living at American Loft will want to reflect their new neighborhood's relaxed style and pay a visit to P.A.D. (804 N. Second St., 215.925.4005) for well-considered 20th-Century furniture and accessories as well as a smattering of contemporary items.

--James Zeleniak
Philadelphia Style Magazine
March/April 2006

Montgomery County News
Feb 22 -24, 2006

Like an oasis in the desert, Nouveau provides refuge from the hustle and bustle of its surrounding city. Located at 120 New Street in the heart of Philadelphia's Old City district, the six story development is situated just below the Benjamin Franklin Bridge and I-95. Within the walls of this modern development, however, there lies an air of peace and tranquility.

Developer Gagan Lakhmna envisioned a building that would juxtapose the vibrancy of city life with a sense of serenity and inner calm. Extensive outdoor landscaping features giant trees and waterfalls, along with a private garden. Floor-to-ceiling sound proofed windows, with heights of almost 10 feet, afford residents spectacular views of the city and allow natural light to illuminate their homes.

Luxurious amenities come standard at Nouveau. From Poggenpohl kitchens with Miele appliances and Liebherr refrigerators to recessed plasma TVs and fireplaces, the interior decor is both chic and comfortable.

Each condominium also comes with a deeded parking space in the first floor garage. The developers have taken pride in creating living spaces that are both stylish and convenient.
Nouveau offers 16 luxury condominiums on six floors. There are eight distinctive floor plans ranging from approximately 1,200 square feet to 2,700 square feet. Fourteen residences are located on floors two through five, a bi-level extends from the fifth to the sixth floor, and a spectacular penthouse residence is on the sixth floor.

The units range in price from $490,000 to $1.3 million. Price increase effective March 1, 2006.

For more information, contact RE/MAX City Group at 1(215) 625-3650

Nouveau Richie

With a sleek glass facade - a sharp contrast to the rest of Old City's converted factories and warehouses - the Nouveau is bringing modern style to the historic neighborhood. Though its located a mere stone's throw from I-95 and the Ben Franklin Bridge, the building is clad in the same architectural glass used in airports so sounds don't invade any of the 16 units. And because SEPTA rumbles by every so often, CREI, the developer, has ensured there's no vibration, thanks to a pile foundation underneath the Nouveau.

Priced between $499,000 and about $1 million, the condo-miniums come with built-in 42-inch plasma screen TVs and fireplaces, CREI's Gagan Lakhmna says. Expectged to be complete in the fall of 2006, the homes range in size from 1,200 square feet for the three-bedroom penthouse, which includes a greenhouse. Owners can personalize their kitchens, opting for glossy, dark or light wood Poggenpohl cabinets or to have the whole kitchen fitted in stainless steel, glass or gunmetal-lacquer finishes. High-end appliances from Miele are standard and the sixth-floor penthouse even comes with an espresso machine installed in the cabinets, while the refrigerator has a built in wine rack to keep the Cristal chilled. True gourmet chefs may also request steam ovens and five-burner stove tops.

Master baths have showers with multiple heads for a relaxing, full-body massage. They also come with Jacuzzi tubs, Italian tile, modern German-designed toilets (some are even built into the wall) and deep, trough-like sinks from Duravit and Dornbracht.

A few blocks removed from Old City's restaurants and bars, Nouveau has a distinct residential feel and a garden entrance adds to the tranquil nature of the building. The street itself loops back to Second Street so there's no through traffic.

But really, the Nouveau is all about looks. Nearly 10-foot-high, floor-to-cieling windows offer views of the city's growing skyline. Some units have decks and there's even a bi-level unit that extends from he fifth floor to the sixth. Constructed out of architectural glass and steel beams, the Nouveau is bringing modernist architecture to Old City.

--Rebecca Harper
Philadelphia Style Magazine
Jan/Feb 2006

Philadelphia Magazine, Dining Out Guide

NoLibs goes Luxe, January 2006

"I remember when you couldn't walk from the Schuylkill to Rittenhouse Square without seeing boarded up homes" says developer Gagan Lakhmna, in the conference room of his stylish condo sales center at 2nd and Fairmount in Northern Liberties. "What Ed Rendell did for this city...." he pauses "I tried to move to New York, I tried to move to Miami, but something kept bringing me back."

With bold plans to meet the demand for high value luxury housing in and around Center City, Lakhmna, 34, is a poster child for the cosmopolitan nature of Philadelphia's real estate awakening. The sixth generation in a family of builders, he moved here from India in 1993 to pursue his Masters in Drexel, and established his first business - a small South Jersey gas station in 1997. With business partner Harbir Singh, Lakhmna manages nearly 50 retail properties.

It was only in 2003, after looking at trends around the country, that the pair became serious about residential development. (A third partner, Billy Grewal, joined Creating Real Estate Innovation, CREI, last year.) With a steady stream of baby boomers and new families expected to move into the city through the decade, Philadelphia proved irresistable. CREI has gotten the jump on an anticipated condo boom in Northern Liberties with two projects, Northern Life and American Loft. "Northern Liberties has always been the happening place where nothing ever happened," Lakhmna says. "Now there's more progression of Old City northward than west, and if you analyze the proximity of this little neighborhood and the pricing level, it's very exciting."

The company is also building in Old City - a project called 101 Walnut - and Society Hill. Altogether, CREI has eight projects under construction or in the final stages of zoning approval in the city, representing an almost $160 million investment.

Selling that inventory is a daunting task, but it's made easier by each project's buyer friendly detailing. Poggenpohl kitchens are a CREI standard, with appliances from Bosch or Miele. "I believe I should be able to live in every unit I sell," says Lakhmna.

He and his partners are also building in Atlantic City and on the Caribbean island of Anguila and examining projects in Brooklyn, Florida and Germany. Highgrowth Asian countries such as India and China - from which CREI is already sourcing materials - are a natural step. But whatever success he finds elsewhere don't expect Lakhmna to abandon his adopted city. He says he's taking on of the penthouses at 101 as soon as it's done. - Timothy Haas.

December 30, 2005
by Natalie Kostelni Staff Writer

After dabbling in real estate for a few years, a young team of local entrepreneurs has made a major commitment to condominium development in Philadelphia and will, by this spring, have eight projects totaling $250 million under way in the city

Gagandeep "Gagan" Lakhmna and Harbir Singh formed Allied Development Group and then later changed the company name to Creating Real Estate Innovations, or CREI, for short, about a year-and-a-half ago.

The two met four years ago after realizing each owned gas stations just a few miles apart. The businessmen teamed up in a few one-off real estate deals, buying buildings, holding them a short while and then selling. Lakhmna also ventured into owning and operating car washes. For the most part, he ìtinkeredî with real estate, drawing on the background of his family, which has been in the construction business for five generations.

Singh, 41, of Moorestown, N.J., and Lakhmna, 34, who lives in Philadelphia, had visions of doing something bigger. They decided to establish CREI as a route to making their ideas come to fruition. The duo later added Billy Grewal, 37, a restaurateur who ran a popular seafood restaurant called Grillfish in Miami and now lives in Philadelphia, to their partnership.

In all, the team has amassed a portfolio of 50 properties ranging from gas stations and car washes to clothing and cell-phone stores. For now, CREI wants to devote its time and money to building condos in Philadelphia and extending its residential work outside the area.

CREI has a philosophy about its work, said Lakhmna, who moved here from India in 1993 to get an M.B.A. from Drexel University. Part of that philosophy is represented in the company's name. The firm has focused on catering to those who prefer contemporary architecture and hip dwelling spaces.

"Our basic philosophy is to differentiate by design," Lakhmna said. "Our designs are intelligent and sensible, and there is a sensible use of space. It's not cookie cutter; it takes us 30 percent more time to design a project because we go through every layout."

"It also costs more money, but it's worth it," he said. By concentrating on design, Lakhmna believes CREI will become identified by its attention to detail and, in a way, become a brand of condominium. The names of CREI's condo buildings, such as Northern Life, also underscore the developer's desire to come up with something unique that will attract a special breed of buyer who is drawn to the company's philosophy.

Lakhmna is also confident that Philadelphia is ready for a focus on contemporary design. The company broke ground on six projects this fall and is in the design phase on four others, including one in Atlantic City, on which the firm intends to begin construction in early 2006. For the projects CREI already has under way, demand is steady, he said. Units range from $200,000 to $2 million.

The projects CREI has started, in the Old City and Northern Liberties sections of Philadelphia, include: Nouveau, 16 units at 122-130 New St.; American Loft, 40 units at 717 N. American St.; 101 Walnut, 10 units on 10 floors at 101 Walnut St.; and Northern Life, 12 units at 820 N. 3rd St.

The firm has a 20-townhouse project on Brown Street in the design phase, and a new 13-story building at 620 N. 2nd St., for which a first-quarter 2006 ground breaking is scheduled. It is also working on plans for a project at 5th and Walnut streets in Old City. And while all of its work has been ground-up, new construction, it will convert an empty department store at 1126 Chestnut St. into condos in '06. It also has a residential project in Atlantic City in the works.

CREI is going international next while still coming up with new projects in its home base. The company, which already has a development in progress in the Caribbean, is considering Italy, France, and Germany.

Originally published in December 2005.
By Larry Platt

I don't know if I've ever seen so much handwringing among my brethren in the mainstream media. People aren't reading. Newspaper circulation is crumbling. Bloggers will rule - the internet, in fact, will make us all obsolete. On and on it goes. Yet this magazine - like many other city magazines - continues to flourish. We're among the nation's strongest in terms of newsstand sales and ad revenue. What gives?

I think we can overthink things. What gives here is what's always given here: Smart people love stories. And, largely through a recurring cast of compelling characters, we tell the story of Philadelphia. The same holds true elsewhere. Pick up New York magazine, for instance, where, through the ongoing dramas of Donald Trump, Marthe Stewart and George Steinbrenner, among others, the story of that city has played out for a generation. They're not only compelling characters in and of themselves; through their exploits, something about New York itself has been revealed.

This issue is a great example of how our own recurring characters reflect this city's zeitgeist. There's former celebrity chef Alison Barshak - the glamorous cover girl for this magazine a decade ago - now newly reeducated about the wisdom of customer service and a metaphor for how, after all the glitz and publicity, it really should be about food. There's radio man John DeBella, a familiar face in these pages for 20-odd years and now the ultimate survivor, newly relevant in light of the departure of his onetime conqueror, Howard Stern, from the free airwaves. There's Ralph Roberts, our area's most dynamic and down-home really, really, really rich guy, still dining for $9.25 at Little Pete's even as he builds a cable company currently taking over humankind. There are Chaka Fattah and Jerry Mondesire, through whom, over the past quarter-century, we've seen the narrative of racial politics in this city unfold; now their feud enters a new chapter, with the next race for mayor hanging in the balance. And, as always, we try to identify those who will represent the story of Philadelphia's future, such as young real estate developer Gagan Lakhmna, who's making his mark building luxury housing in Center City and Northern Liberties. No doubt we'll hear more from him and other co-stars in the longest-running drama we have - call it the Real Philadelphia Story - right here, in these pages.

The coolest thing about this gig is being in on the secrets of our town and then getting to shout them out. That's what food reviewer Maria Gallagher does in our cover package, "50 Restaurants We Love (And Why We Love Them)" (Page 72). It's the inside scoop from Maria's little Black Book, chock-full of her tips on how to best navigate our dynamic dining scene.

Finally, this issue marks the debut of our new upfront lifestyle section, The Good Life, edited by Jessica Blatt, who comes to us after stints at Food & Wine and CosmoGIRL! magazines. "I want this section to be Philadelphians' guide to everything from fashion, beauty, fitness and home to tech, toys, cars, travel and shopping," says Blatt. "The section should have the same level of irreverence, service, analysis and local-ness as every other page in the magazine."

For some reason, despite all our technological advances (remember the big lie about how gadgets like my BlackBerry were supposed to simplify our lives?), we live in increasingly complicated times. It's harder than ever to get the most out of this region as a consumer - too many choices, not enough time. Jess Blatt is here to help you manage all that, as she's already done for me personally. She taught me how to fold a pocket square, and now I look vastly more mature than I actually am. In The Good Life, she'll help you aspire to a certain style, too. Enjoy.