PHILADELPHIA | 115 S. 19th Street | 540 FT | 45 FLOORS - Page 20

halyszka · #**381** Posted **Feb 13, 2026, 8:22 AM**

I seen this building some years ago...

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bdurk · #**382** Posted **Apr 10, 2026, 1:14 AM**

There was a crane on site today. Not a tower crane just a 100' mobile one.

bdurk · #**383** Posted **Apr 24, 2026, 6:04 PM**

Looks like they're working on the foundation, I will post more pics when this is out of the ground.

PHLtoNYC · #**384** Posted **Apr 24, 2026, 6:29 PM**

O wow, that is fully U/C. The big pour should be coming soon.

PHL10 · #**385** Posted **Apr 27, 2026, 1:26 PM**

Quote:

Originally Posted by PHLtoNYC

O wow, that is fully U/C. The big pour should be coming soon.

You took the words out of my keyboard. As soon as I saw bdurk's pic, my intention was to reply with "Oh, wow!"

summersm343 · #**386** Posted **May 9, 2026, 9:41 PM**

Tower crane going up for this

Gritty’s_twin · #**387** Posted **May 10, 2026, 1:23 PM**

Great news. I really do hope this means Philly is at the beginning of a new development cycle, the last couple of years have been lean. But financing is still tight.

Londonee · #**388** Posted **May 10, 2026, 3:19 PM**

Crane is fully up. Are Pearl the only people who can find a way to build in this climate? I don’t get it.

PHLtoNYC · #**389** Posted **May 10, 2026, 6:20 PM**

Quote:

Originally Posted by Londonee

Crane is fully up. Are Pearl the only people who can find a way to build in this climate? I don’t get it.

And Post Brothers.

Redddog · #**390** Posted **May 11, 2026, 1:25 PM**

Quote:

Originally Posted by Londonee

Crane is fully up. Are Pearl the only people who can find a way to build in this climate? I don’t get it.

Developers want easy money. Rates need to come back in more for that to fully infuse the development phase. Ironically, we'd have been there by now if not for insane fiscal and geo-political policies driving inflationary conditions that make it impossible to address rates.

Skang · #**391** Posted **May 11, 2026, 1:56 PM**

So does anyone actually have a real rendering for this project? There’s a few different ones floating around, but nothing’s officially set yet

PurpleWhiteOut · #**392** Posted **May 11, 2026, 2:01 PM**

Quote:

Originally Posted by Skang

So does anyone actually have a real rendering for this project? There’s a few different ones floating around, but nothing’s officially set yet

Yeah im really curious what their plan is for the ground floor

chimpskibot · #**393** Posted **May 12, 2026, 1:57 AM**

Quote:

Originally Posted by Redddog

Developers want easy money. Rates need to come back in more for that to fully infuse the development phase. Ironically, we'd have been there by now if not for insane fiscal and geo-political policies driving inflationary conditions that make it impossible to address rates.

Pearl also used a pretty new and innovative credit stack to make this project possible during a very challenging credit cycle.

phishtown · #**394** Posted **May 12, 2026, 1:08 PM**

The crane, on Sunday:
[IMG]

115 S. 19th Street crane by K M, on Flickr[/IMG]

PHLtoNYC · #**395** Posted **May 12, 2026, 1:53 PM**

Sorry to go briefly OT...

In the photo, weren't all the crosswalks just repainted? How is it already that worn out?

domodeez · #**396** Posted **May 12, 2026, 3:23 PM**

Quote:

Originally Posted by chimpskibot

Pearl also used a pretty new and innovative credit stack to make this project possible during a very challenging credit cycle.

Very Interesting. Can you say a bit more about this?

chimpskibot · #**397** Posted **May 18, 2026, 10:00 PM**

Quote:

Originally Posted by domodeez

Very Interesting. Can you say a bit more about this?

Pearl used a new, esoteric financing product called a CPACE loan. This loan is not widely available and a state has to opt into the financing scheme. I am still unsure what the product covers as acceptable for use, but basically it allows developers to amortize the loan as part of their taxes. It's an interesting product that is gaining traction in Philly. Pearl will have deployed the second largest cpace loan after Brandywine.

domodeez · #**398** Posted **May 19, 2026, 1:08 AM**

Ah yes. I forgot this was the big Philly project that used CPACE. I actually wrote a research paper on CPACE back when the program was relatively new (Jan 2014; PACE was created in 2008) for the old CBEI, which sadly no longer exists.

TK2001 · #**399** Posted **May 20, 2026, 11:53 PM**

I get everyone is excited but I'm proceeding with caution. I wish this got a height cut to 400 feet...and I hate to be repetitive with this but it's my main problem with the tower. Blocking One Liberty Place from South Street Bridge, if it was 400 feet tall we would still see the crown of OLP perfectly. Me and my parents drove through Center City today and I saw the crane and I said "oh nooo". I'm not NIMBY but I am glad that such a tower with a boasting height is joining the skyline, but I truly wish it was built on a different location.

bdurk · #**400** Posted **May 21, 2026, 1:30 PM**

They're pouring concrete today, will upload a pic when I get off work.