Posted Aug 23, 2017, 5:24 PM
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Registered User
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Join Date: Jul 2005
Location: Center City
Posts: 222
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It's worth quoting the article more fully:
Quote:
Dranoff Properties said the current plan is to begin work on SLS first, followed by the Broad and Pine condo tower. SLS construction should begin by the end of the year or early 2018, as long as the developer is awarded its requested $19 million RACP state grant. The construction timeline on this 45-story tower is approximately two and a half years.
Once SLS is complete, Dranoff Properties will begin demolition on the current structure at Broad and Pine and build the condo tower from the ground up. Construction is estimated to take about 28 months.
But the developer does have a deadline for the Broad and Pine tower. The CMX-5 zoning variance it acquired in 2015 includes a sunset provision that requires construction permits to be in hand by 2020. If the SLS hotel is delayed again, Dranoff Properties said it would consider starting construction on the Broad and Pine tower first in order to meet the variance’s 2020 deadline.
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