Developer EPG Urban is proposing a 30-story, mixed-use tower at 3720 Chestnut Street in University City, replacing the old Newman Center. The 26,000-square-foot project would include 420 apartments, 4,000 square feet of retail and 40 underground parking spaces. Read more at Curbed Philadelphia.
RESIDENTIAL REAL ESTATE
Auto dealer Biagio DeSimone has plans for a 16-story building at 626 N. Delaware Ave. in Northern Liberties that would include 96 apartments on the upper floors and a DeSimone auto showroom on the first floor. The mixed-use project would take the place of an empty 9,000-square-foot lot at the southwest corner of North Delaware and Fairmount Avenues in Northern Liberties. Read more at Philly.com.
COST OF LIVING
A new study from MagnifyMoney ranks the best and worst cities in the country to live on a six-figure salary and Philadelphia comes in as the 29th worst on the list. The price comparison and financial education website used a hypothetical couple with one child that earns a combined gross income of $100,000, then estimated monthly expenses and taxes to calculate the family’s disposable income in 100 metro areas. Read more at Philly Mag.
Researchers from UK-based Wayve have successfully taught an autonomous car how to stay in its a lane over a period of 15-20 minutes using a “reinforcement learning” algorithm along with a human safety driver. Read more at CNET.
Miami-based MyPark raised $2.1 million in seed financing in April, which it will use to support expansion of its app that allows users to reserve a parking space at their local mall. Shoppers can book spaces on demand for a few dollars an hour. Read more at Philly Voice.