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Originally Posted by Ninjawho
If PC Online is correct then this is fantastic news...I still am a little confused as to how it was just announced a few months ago and miraculously two years were shaved off its ETC...
still we don't really have reason to think it won't be built when it says it will be built...
I don't remember what they said when it was announced, but, did they already have tenants for the towers? I guess I'm just confused how they're going to build a 40 some odd story tower in todays market....or are they just assuming they'll have tennants in such a high profile spot...
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I was thinking they erred when they said total project complete by end 2010. Originally Phase 1 was to end by 2010 (Post office renovation + parking garage) Then phase 2 was to begin. But who knows- with 2 different sources reporting total project completion by end of 2010 maybe Brandywine + Penn put the project on speed dial.. I know Brandywine has been moving alot of money around taking on partners, selling off property etc. Maybe this project has become priority #1.
That 40-50 story tower is going to be mixed use. 500,000 sq. ft of office space which Penn has committed at least 100,000 sq ft of. With center city vacancy rates under 10% that other 400,000 sq.ft will go pretty quickly. 225 hotels rooms and 50 condos.
The smaller tower is going to be all residential.