It could be that the 709 people want to put windows on the east side of their building and the only way to ensure that that those windows are never walled over by a future neighboring skyscraper is to buy the air rights of the existing short building next door.

Good point.

That's why someone needs to take a look at that PBJ article. :rolleyes:

Nice tidbit from an article by Philly.com today

Read more at http://www.philly.com/philly/busines...zZ3k5ZaCOq2.99

Apparently there is drilling on site today. Test bores or soil samples?

Hopefully they redo that design.

I talked to the workers. They are testing to vet for foundation issues they might encounter. Apparently the lot is the cite of an old church.

good news. I was concerned this was dead.

Same, I was wondering about this one. Hope it can come through in some form.

I wonder if this tower would qualify for rappelling down the side when complete.

Looks Like Fun!
• Video Link

A first sign of cooling in Philly's heated apartment-building market

http://www.philly.com/philly/busines...ng_market.html

:(

saw that this morning. Not surprising. I'd bet same fate for 701 market and other stalled projects.

100 North 2nd st. and 401 Race sites haven't moved an inch since the demo, that is worrying.

Zuritsky still hopes to develop the parcel. It should reach out to Toll brothers to place it's stupid project there instead of bulldozing 5 buildings on Jewelers Row.

Thats a great idea

We can only hope this slow down kills garbage brothers, errrr toll brothers ill fated jewelers row project as well.

the slow down refers to apt projects, not condo projects. There are very few condo projects underway or planned. You have 500 Walnut and One Riverside under construction and that's about it.

Gotcha, thank you for the correction!

Yes, this doesn't refer to it directly. It's not clear to me what the market is for luxury or sub-luxury condos. If SLS and 1911 Walnut get off the ground, that's a substantial increase in luxury market (generally older and often empty nesters returning to the city. That said, it seems healthy and existing projects have fared well. The Millennial home ownership market is largely focused on townshouses and/or projects outside Center City such as Fishtown, NoLibs, etc...

Since only Mack-Cali and Roseland have backed out but Parkway Corp still owns the lot and is dedicated to building something here, we'll keep this thread open for now. It's possible Parkeay will just find new development partners.