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Old Posted Aug 22, 2016, 1:19 AM
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City Center's Innovation Tower project on hold

Quote:
By now, it was hoped construction would be well underway on Five City Center, the eye-catching, 17-story Innovation Tower planned for Seventh Street between Walnut and Hamilton.

Instead, developer City Center Investment Corp. has placed the 400,000-square-foot glass-and-steel landmark, once slated for a late 2017 opening, on the back burner while it pursues other projects.

"For us to build Five City Center Innovation Tower we need a large anchor tenant," City Center CEO J.B. Reilly said Tuesday. "We don't have a large anchor tenant committed."

The proposed 19-story apartment complex at Eighth and Hamilton streets affiliated with the tower is also on hold, Reilly said. The two buildings are part of a larger complex that would include a 700-space parking deck and verdant public square. The two are connected, he said, a sort of package deal.
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