PHILADELPHIA | American Commerce Center | 1,510' Pinnacle / 1,210' Roof | 63 FLOORS

[TechTalkGuy]

Originally Posted by bellabeagle

What are peoples opinions on the percentage chance of this project happening??

90% for me.

[wanderer34]

Originally Posted by SJPhillyBoy

New HQ for the NFL?!?

http://www.philly.com/philly/business/26328349.html

By Joseph N. DiStefano
Inquirer Staff Writer

Build this

Speaking of football: I finally heard a rumor about the proposed 1,500-foot American Commerce Center that almost made sense.
Tower fans love it, but everyone I've talked to in the real estate business says the building is a very long shot, like the abortive Girard Square superblock, the decade-old Philadelphia World Trade Center proposal, and the even older plan to obliterate riverfront chunks of East Camden and turn the place into Disneyland, or something.

You need a tenant before you build a billion-dollar building.

"I hear it's going to be the National Football League," the owner of another Philadelphia high-rise told me.

That's nuts, I thought. Then I remembered that pro football was based here, in the 1950s. And isn't the NFL pretty much a media-entertainment company - like Comcast, whose actual tower is down the block from the proposed American Commerce Center? Oh, and we're cheaper than Manhattan, where the NFL now lives.

"We don't have any plans to go anywhere," NFL spokesman Greg Aiello assured me. "Yes, Bert Bell used to have his office in Bala Cynwyd. But Pete Roselle moved it to New York in 1960, and we've been here since." Major League Baseball said it wasn't leaving New York either.

And that's what it is: a rumor!!! As much as I've been a booster for Phila, I don't see the NFL moving into Philly as long as NYC is the financial, marketing, and advertising capital in America. That's just the way it is.

Originally Posted by volguus zildrohar

Also keep in mind that four track express/local configurations were rarities in 1907. New York was the one and only at the time and that was for a practical purpose - time. The distance from West 96th Street to New York City Hall is a lot greater than the distance from 63rd & Market to Philadelphia City Hall. Even today, it remains relatively rare for subway systems because very few need that kind of track capacity. I'd make the argument that is isn't absolutely necessary for the Broad Street Subway (particularly becuase all the branches that were meant for it were never built).

It's understood, but did you know that the PRR was the first railroad to use the four-track configuration??? Think about it. I'm just saying that Phila thought about it first and it's surprising and even a little shocking that Phila, which was once home to the richest railroad in the world, doesn't have as much to show for it's railroad heritage as Chicago or NYC in that regard. But an express line from 69th St to the NE would've been a more efficient way for mass transit than the current system.

[stampy88]

Looks like it won't be TD Bank either

http://www.philly.com/philly/blogs/inq-phillydeals/No_TD_tower_in_Philly_future_.html

No TD tower in Philly future?

PhillyDeals reader David Sinclair suggests a conceivable tenant for American Commerce Center or any of the other speculative towers being floated for Center City: Why not TD Bank Financial Group?
The Canada giant has acquired a string of big U.S. financial institutions, including TD Banknorth of Portland, Maine; TD Ameritrade, based in Jersey City and Omaha; and, most recently, Commerce Bancorp, of Cherry Hill. Maybe they want a signature U.S. building in a not-so-expensive city where they also have a lot customers? Maybe their swollen Canadian dollars can finance a truly North American edifice complex?
TD is no stranger to soaring architecture. Its six-building Toronto headquarters and Toronto Dominion Bank Tower was designed by celebrity architect Mies van der Rohe.
Problem: U.S. commercial banks are in a fight for survival. None of the big U.S. banks in Philly -- Wachovia, PNC, Citizens, Bank of America, Sovereign -- have chosen to build imperial high-rises. They occupy their predecessors' decades-old digs, mostly.
And TD promises not to, either, though salesmen keep calling. "As we said many times, we'll continue to have both executives and a significant employee base in both Portland and at our extensive (former Commerce) campus in the Mount Laurel-Cherry Hill area," said TD spokesman Neil Parmenter.
American Commerce developer Joseph Grasso isn't fueling rumors. "The climate's really difficult now," he told me when I asked him if he's landed tenants or lenders for his supertall. "We're still moving forward. It'll take time."

Posted by Joseph N. DiStefano @ 1:17 PM Permalink | Post a comment

[Don098]

Originally Posted by tower

Sigh If for some evil reason this building does not get built , I will always look at this picture for visual satisfaction. I can only hope that the facade of this building will look more like this rendering than the official glass curtain ones.

P.S. As I searched the emoticons, is this: :babyeat: ???!!! "Let me pick your brain?"

[CrazyFinger]

Originally Posted by McBane

I've made that point countless times...all the people who live near the parkway and count it as the reason they live in their neighborhood and then NIMBY every proposal over 4 floors are clueless to the fact that thousands of people were uprooted from their homes to make way for the Parkway. Now, while we feel bad that it was done in this manner, the fact is, the city as a whole, is MUCH better off having a world class boulevard full of museums than a bunch of rowhomes. People fail to see the big picture. If they could get their heads out of their asses, they would realize what a huge opportunity the ACC is for the entire city. And it's not just an immediate benefit - it will benefit the city for generations to come, long after the NIMBYs are dead and gone.

But anyway, what did Rendell say? Was there some sort of public forum regarding the ACC? Details?

According to Fumo... Rendell said any building over 500ft built on this lot, will not get any state tax incentives.

[Ninjawho]

Originally Posted by CrazyFinger

According to Fumo... Rendell said any building over 500ft built on this lot, will not get any state tax incentives.

Slick Vince is going to be in jail...its going to be a moot point.

[We Got Five]

Everything is a moot point until we show the business community that we're a desirable place to live and work.

[wanderer34]

Originally Posted by CrazyFinger

According to Fumo... Rendell said any building over 500ft built on this lot, will not get any state tax incentives.

Face it, Fumo is full of — on this one. If that's the case, then how the hell did Comcast get KOZ zoning??? As much as I'll say thast Fumo did whatever to get funding for Philadelphia, it's time to let him go.

[10101000]

I love the drawing!

[DocAwesome]

Originally Posted by wanderer34

Face it, Fumo is full of — on this one. If that's the case, then how the hell did Comcast get KOZ zoning??? As much as I'll say thast Fumo did whatever to get funding for Philadelphia, it's time to let him go.

Good question. How DID comcast get KOZ? More importantly, unless there is a level of irony that I'm not picking up on, why are there so many people who think it's under KOZ?

If this does bag that big lead tenant and gets built, great. I'm all for it. Still, I agree that the curtains throught the city start to get repetative, and am hoping for some non-glass features to decorate my view. The sub 500" look promising, imho.

[alasi]

By the way, Comcast didn't get KOZ, but instead got a special deal from Rendell.

[BuildItUp]

Originally Posted by wanderer34

Face it, Fumo is full of — on this one. If that's the case, then how the hell did Comcast get KOZ zoning??? As much as I'll say thast Fumo did whatever to get funding for Philadelphia, it's time to let him go.

Comcast filed for KOZ or KOIZ (i for improvement) but was denied however the state granted around $40 million for the subway station improvements and public plaza to kick start the project.

[BuildItUp]

Originally Posted by bellabeagle

What are peoples opinions on the percentage chance of this project happening??

My feelings >>> 65%

Chances this will get be built in the next 1-3 years is a big fat ZERO. The financial industry is HURTING big time globally. Whenever the US sneezes the rest of the world will catch a cold, excluding only the oil rich Middle East. According to the most recent Business Week article, "banks worldwide will experience an additional $200 billion in losses on top the $500 billion they've already taken." When it is all said and done the total amount could a be a whooping $2 TRILLION. By that estimate alone, which bank or financial institution would be brave enough and step up to the plate and finance this project? I love to see this behemoth get built, but there are so much obstacles. The most obvious is finding an anchor tenant, without that the chances are less than your fantasy of 65%. Sorry for my gloomy outlook.

[gttx]

Then let the Saudis pay for it.

[tua21506]

nvm

[scalziand]

Err, i think Builditup meant 2 trillion to be the amount the banks lost, not the cost of ACC.

[Don098]

Originally Posted by Swinefeld

I went to today's PPC meeting. The biggest problem was the old folks from Kennedy House showed up in force, now doubt bussed in by KH's anti-tower president. There were so many old farts at that meeting you'd thought they were handing out free Depends underwear. The basis of the meeting was to address concerns from the locals and to discuss the zoning variance needed to change that plot of land from C4 (150 feet) to C5.

And then Vince Fumo showed up.

As for the media, they seemed very interested in interviewing the NIMBY side while ignoring the pro-development side. I guess that makes for a better news story.

Next meeting is in September.

So has anyone heard when this PPC meeting will be this month? We need to organize, and I need to be able to make it.

[cubanChris]

And then Vince Fumo showed up.

As for the media, they seemed very interested in interviewing the NIMBY side while ignoring the pro-development side. I guess that makes for a better news story.

In other news, the jury selection for the Fumo trial has begun =) so... thats a plus

[Swinefeld]

Major announcement

The Philadelphia City Planning Commission hearing regarding the American Commerce Center will be on Tuesday, September 16th at 1:00 PM. I'll be getting the location along with some new renderings later today. If you plan on attending be there early. Seriously, please show up no later than 12:15 to ensure that the Kennedy House people don't clog the meeting.

[Don098]

Damnit! I can't make it! I'm going to be out of town :-( If you can make it, PLEASE go. I want to see you guys on the news!