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New Construction Projects in Philadelphia

New Construction Projects in Philadelphia


When living in a large city like Philadelphia it can be difficult to see all the new and upcoming real estate construction. With the demolition of old buildings to the construction of newly renovated complexes, let LYL Realty give you the scoop on what’s to come!

Just North of Broad Street is the newly constructed six-story multifamily apartments on the corner of Callowhill. The development broke ground in early 2016 with co-partners Hanover Co. and Parkway Corp. The bottom of the building will contain retail opportunities. With construction almost complete, tenant applications are also being accepted. The hopes for these new apartments is to start bringing Center City’s density up Broad Street.

Further toward Center City is the renovation an old parking garage located in the Avenue of the Arts section of Broad. The parking garage will be turned into a Cambria Hotel and will hopefully bring more tourists and business partners to the area. Pearl Properties broke ground in 2016 and is expected to be finished early 2017.

How could anyone miss Philadelphia’s newest skyscraper? A project expected to open in 2017 is the new Comcast Innovation and Technology Center. The new building will stand 172ft taller than the previous Comcast Center and have a remarkable 59 stories. The building will be occupied by 200+ luxury hotel rooms, a vast amount of retail space, and a top floor restaurant with a view of the city.

After months of debate and fights with the zoning board, the Toll Brothers has revealed their proposal for a 29-story tower filled with condos and retail opportunities on Sansom Street. To start the construction of this massive building 5 historic buildings will be torn away but not forgotten.  It is too have a modern feel with brick and metal exterior to still keep the history of the street alive. The project is not expected to be concluded until 2019.

With the new construction going on, some have felt that the history of Philadelphia was being forgotten. In most cases, significant historic buildings are being salvaged or just renovated for different use. With the changing skyline of our city we are still excited to see where it all goes. But don’t forget, when it’s time to find a new place to live, whether you are looking to buy or rent, LYL Realty Group is here to help you every step of the way!

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Is being a real estate agent right for me?

Is being a real estate agent right for me?

Are you looking for a job that will keep you on your toes? If so, being a real estate agent might be the perfect fit for you! Let LYL Realty explain some pros and cons of the work that we love to do.

An important factor of being a real estate agent is that you become your own boss. You have control over your hours and movement. If you have a family, having this sort of flexibility can be very beneficial. On the contrary, most of your clients have 9-to-5 jobs which most likely has you working at odd times during the day to fit into their schedules. Weekends become full with showings and next thing you know, you’re working when everyone else is off.

Secondly, a nice perk of being a real estate agent is when the market is strong you can feel it. You’re not worried about your next lead because you know you have the extra cash coming in. You are not paid hourly but by the amount of time you invest in growing your clientele. When buying and selling real estate seems to be spreading like the gold rush, you’re loving every minute of it. Con: when the market fever starts to settle, it hits hard. During the slow season, agents are all scrambling for the same clients. Everyone is in more competition with each other. This job needs someone who doesn’t mind adapting quickly to different market situations.

Lastly, a pro about being an agent is that you are the expert. Your clients are depending on you to find them what will best suit their needs. You are the one who knows all the ins and outs of the surrounding area. They are depending on you to guide them with this major life changing decision. With this amount of trust you form very close relationships with your clients. The only stressful con about this is that you are trusted with someone’s life savings. Having such a heavy weight on your shoulders can make it heart aching when things don’t go as planned. Deals fall through and terms of sale change. You must remember that unhappy clients spread word just as fast as happy ones.

Being a real estate agent is a different job than most. It can be very rewarding and self-motivating. But don’t forget, when it’s time to find a new place to live, whether you are looking to buy or rent, LYL Realty Group is here to help you every step of the way!

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Are You Ready To Rent?

Are you ready to rent?


Renting for the first time can be a very exciting yet daunting undertaking! There are many different areas and options to consider before making a final decision. As you’re looking for the perfect rental, it’s important to know what to expect.  At LYL Realty, we ask our clients if they are prepared for all the steps into finalizing this huge deal.

For one, it is important to ask yourself, am I ready for how much this is going to cost me? Most first time renters know they are responsible for the monthly rent, but it is easy to forget about the upfront costs. It is very common for landlords to ask for a deposit of 1 to 3 month’s rent before your lease begins. In order for you to secure your ideal unit, you must have at least one month’s rent available to give to the landlord.  This deposit will take the unit off the market for you!  After the initial fees, paying for utilities is a more likely cost you’ll have to fit into your budget.  Different buildings have different rules but that is all to be discussed with your landlord.

Secondly, is your landlord the right fit for you? It is very easy to get caught up in the housing process that you forget to ask the small questions. Does your landlord have to keep your home safe and in decent condition? If your home has something wrong with it, will they take the time to resolve the issue? Sometimes people forget that things can go south! Ask your landlord these questions and try to negotiate if you have any concerns.

Lastly, roommates can make or break your first time renting or buying experience. First, decide how many roommates you want. How many roommates you have can affect your living costs and standards of cleanliness.  Try to pick people you know well and can trust.  Secondly, talk about a cleaning schedule and make sure everyone is on board with paying shared utilities. It essential that all roommates sign the same lease. You want to be secure that everyone is in contract and pays their own rent.

Renting for the first time is an exciting life experience. Carefully choose the people you want to experience this with. Remember to stay on budget and focus on the what you need.  And don’t forget, when it’s time to find a new place to live, whether you are looking to buy or rent, LYL Realty Group is here to help you every step of the way!