PHILADELPHIA | Chinatown Eastern Tower | 252 FT | 21 FLOORS - Page 3

Insoluble · #1 Posted **Oct 21, 2014, 5:55 PM**

Quote:

Originally Posted by summersm343

Renderings here:
http://www.easterntowercc.com/#!eastern-tower/crly

Very nice renderings! These look to be about the same design as before though, and up thread ConstructStudent mentioned there may be a complete redesign. Under the "Lease" tab on that website it claims the building will be 23 stories instead of 24, but that doesn't seem like that drastic a change. I hope they stick with this overall design; it's lovely and fits in nicely with the direction the neighborhood is moving in.

ConstructStudent · #2 Posted **Oct 21, 2014, 6:16 PM**

Quote:

Originally Posted by Insoluble

Very nice renderings! These look to be about the same design as before though, and up thread ConstructStudent mentioned there may be a complete redesign. Under the "Lease" tab on that website it claims the building will be 23 stories instead of 24, but that doesn't seem like that drastic a change. I hope they stick with this overall design; it's lovely and fits in nicely with the direction the neighborhood is moving in.

Those renderings are from a previous design. The building is currently 21 stories with a mechanical penthouse.

summersm343 · #3 Posted **Oct 21, 2014, 9:03 PM**

Quote:

Originally Posted by ConstructStudent

Those renderings are from a previous design. The building is currently 21 stories with a mechanical penthouse.

Sounds good! Any new construction is good for Callowhill/Chinatown North/Loft District... especially one that is 20+ floors! I look forward to it going up.

Jawnadelphia · #4 Posted **Oct 22, 2014, 2:39 PM**

According to Rachel Mak, Deputy Director of Phila. Chinatown Development Corp.:

"Yes, the project is moving forward financial closing in January 2015. Construction begins Spring 2015."

Yeah, I emailed her - felt like being a little proactive. I figure if she didn't mind sharing this info with a nobody over the internets ...it was ok to pass along to you all.

josef · #5 Posted **Oct 28, 2014, 2:39 PM**

Cool! Does that mean they can start building?

iheartphilly · #6 Posted **Oct 28, 2014, 3:01 PM**

Some more (local) fundraising for this badly needed project:

http://www.phillyrecord.com/2014/10/...-youth-a-home/

Flyers2001 · #7 Posted **Oct 29, 2014, 7:25 AM**

Quote:

Originally Posted by iheartphilly

Some more (local) fundraising for this badly needed project:

http://www.phillyrecord.com/2014/10/...-youth-a-home/

That's awesome to hear. I am a huge proponent for youth organizations and the good that they offer. I am glad to see this organizations will have a place closer to the children's homes.

This facility has the makings to do some great things for Chinatown.

Jawnadelphia · #8 Posted **Oct 29, 2014, 3:03 PM**

PhillyMag -

http://www.phillymag.com/property/20...munity-center/

Project will receive $3.7 mil state grant.

summersm343 · #9 Posted **Oct 29, 2014, 3:30 PM**

Quote:

The tower will house Chinatown’s first community center, a preschool and after-school programming run by the Chinatown Learning Center, a bilingual health center, a gym, offices, retail shops and 143 apartments – 31 of which will be subsidized by PCDC for poor and low-income residents.

Shaw adds that Andy Toy, PCDC’s managing director, said the project would create up to “1,000 construction jobs and more than 300 full-time jobs when completed.”

Read more at http://www.phillymag.com/property/20...f6Jp1lPLlIJ.99

wondertwinalpha · #10 Posted **Oct 29, 2014, 4:28 PM**

Quote:

Groundbreaking is expected early next year.

http://www.philly.com/philly/news/20...Chinatown.html

summersm343 · #11 Posted **Oct 29, 2014, 5:09 PM**

Another article about the grant

http://www.bizjournals.com/philadelp...r-project.html

iheartphilly · #12 Posted **Oct 29, 2014, 5:29 PM**

Quote:

Originally Posted by summersm343

Another article about the grant

http://www.bizjournals.com/philadelp...r-project.html

Based on this article and the numbers from some of the other, they have more than the 75 million dollars for the project. Guess they are out of excuses of getting this project started!

Cro Burnham · #13 Posted **Oct 29, 2014, 5:49 PM**

I'll believe it when I see it. Obtaining financing commitment and closing the deal are two totally different hurdles.

summersm343 · #14 Posted **Oct 29, 2014, 6:06 PM**

And more from CurbedPhilly

http://philly.curbed.com/archives/20...oject.php#more

josef · #15 Posted **Nov 4, 2014, 7:13 PM**

New Philly High-Rise Links Past and Future of Chinese Immigration
BY ALEXIS STEPHENS | NEXT CITY | NOVEMBER 4, 2014

Last week, the Philadelphia Chinatown Development Corporation (PCDC) announced plans for the city’s first EB-5 project. One of PCDC’s most ambitious mixed-use development projects so far, the Eastern Tower is set for completion in 2015. The 23-story tower will include apartments, ground-floor retail, a green roof community space, bilingual social and health services, and youth and senior recreation facilities. The federal EB-5 Immigrant Investment Program helps foreign nationals secure a green card if they invest at least $500,000 in an American business that creates at least 10 jobs. (Here’s a good Next City overview of the foreign investment that’s occurred in cities through the EB-5 program.)

Full article at http://nextcity.org/daily/entry/phil...se-eb5-funding

iheartphilly · #16 Posted **Nov 4, 2014, 7:19 PM**

Quote:

Originally Posted by josef

New Philly High-Rise Links Past and Future of Chinese Immigration
BY ALEXIS STEPHENS | NEXT CITY | NOVEMBER 4, 2014

Last week, the Philadelphia Chinatown Development Corporation (PCDC) announced plans for the city’s first EB-5 project. One of PCDC’s most ambitious mixed-use development projects so far, the Eastern Tower is set for completion in 2015. The 23-story tower will include apartments, ground-floor retail, a green roof community space, bilingual social and health services, and youth and senior recreation facilities. The federal EB-5 Immigrant Investment Program helps foreign nationals secure a green card if they invest at least $500,000 in an American business that creates at least 10 jobs. (Here’s a good Next City overview of the foreign investment that’s occurred in cities through the EB-5 program.)

Full article at http://nextcity.org/daily/entry/phil...se-eb5-funding

Completion date of 2015 can't be right.

Londonee · #17 Posted **Nov 4, 2014, 9:59 PM**

Quote:

Originally Posted by josef

Last week, the Philadelphia Chinatown Development Corporation (PCDC) announced plans for the city’s first EB-5 project. One of PCDC’s most ambitious mixed-use development projects so far, the Eastern Tower is set for completion in 2015. The 23-story tower will include apartments, ground-floor retail, a green roof community space, bilingual social and health services, and youth and senior recreation facilities.

Last week? They've been "announcing" this project for almost a decade. Put up or shut up already, I'm growing sick of reading about this project every 6 months or so.

Austinlee · #18 Posted **Nov 4, 2014, 10:14 PM**

^Is that still the official rendering?

summersm343 · #19 Posted **Nov 4, 2014, 10:38 PM**

Quote:

Originally Posted by Austinlee

^Is that still the official rendering?

We're not entirely sure. Constructstudent who works in the development industry in Philadelphia has stated that the design has changed, and this is now 21 floors instead of 23 or 24. These are the renderings that all publications as well as the PCDC keep using however.

ConstructStudent · #20 Posted **Nov 5, 2014, 12:48 PM**

Quote:

Originally Posted by summersm343

We're not entirely sure. Constructstudent who works in the development industry in Philadelphia has stated that the design has changed, and this is now 21 floors instead of 23 or 24. These are the renderings that all publications as well as the PCDC keep using however.

Correct summers this is not what the building is going to look like. I wish I could post the rendering but do not really want to risk my job over a rendering haha