PHILADELPHIA | American Commerce Center | 1,510' Pinnacle / 1,210' Roof | 63 FLOORS - Page 73

Cro Burnham · #**1441** Posted **Jul 1, 2009, 6:11 AM**

Quote:

Originally Posted by PA Pride

I can't believe there are 72 pages of discussion on this proposal already. There are ALOT of Philly fans on SSP.

I'm with you, Pride - but if you think this is alot of pages about nothing, check out the Chicago Spire thread. Must be at least 200 pages of "I think it could still happen if [insert condition of choice]."

Parkway · #**1442** Posted **Jul 1, 2009, 1:01 PM**

Quote:

Originally Posted by Cro Burnham

I'm with you, Pride - but if you think this is alot of pages about nothing, check out the Chicago Spire thread. Must be at least 200 pages of "I think it could still happen if [insert condition of choice]."

Not to mention the hundred plus "It looks like the Freedom Tower" that seemed to dominate various pages in here.

Cro Burnham · #**1443** Posted **Jul 1, 2009, 3:06 PM**

Posted on Wed, Jul. 1, 2009

Hill International takes hit on Middle East exposure

By Sonja Ryst

Inquirer Staff Writer

Hill International Inc.'s chief executive officer, Irvin Richter, has had to deal with investors who think construction projects and the Middle East are a scary combination.

Hill's "exposure to the Mideast has given people pause," said Timothy McHugh, an analyst at William Blair & Co. L.L.C.

Hedge funds, in particular, have dumped the company's stock, making its 39-percent drop one of the steepest among local companies in the first half of 2009.

Though based in Marlton, much of Hill's construction-management work is abroad and includes overseeing Dubai's Mall of Arabia. The problem for Hill: That project and similar ones were delayed after Dubai's real-estate bubble collapsed, a result of the global recession and a big drop in crude-oil prices since last summer. Just yesterday, Standard & Poor's Corp. cut its credit rating for Dubai as the ratings firm expressed concern about the emirate's willingness to continue backing some companies hit hard by the economic slump.

Though investors were spooked about the Dubai headlines, Richter said business in other areas in the region, such as Qatar and Egypt, is still growing. Hill's revenue from the Middle East has increased to nearly 40 percent of the company's total revenue, up from 35 percent last year. Hill had a 2008 profit of nearly $18 million last year on revenue of $380 million.

Now, Richter is looking for acquisitions in Europe and in other parts of the United States than its Burlington County base. He said he expects to do "probably" one more this year. He's also chasing work funded by the federal economic stimulus program.

Regardless of the direction of oil prices, Hill's projects aren't all related to that volatile market. They range from expanding airports in Bahrain to advising Los Angeles on renewable energy. Hill also is working on the American Commerce Center, a skyscraper at 1800 Arch St. in Center City that, at 1,510 feet high, is to become the tallest building in Philadelphia.

"We expect to grow this year, and we're still profitable," Richter said of the company. "In the worst economy that I've seen, to be growing and profitable is good."

Dball · #**1444** Posted **Jul 6, 2009, 7:16 PM**

Quote:

Originally Posted by max1979

You see, I was thinking 83 miles may be possible from the top of each skyscraper, i.e. if you can see 50 miles from the ESB and let's say 40 miles from 1200' of the new Philadelphia building, it seems that you could possibly combine the distance if you did it from the top of each to the other (i.e. if both buildings could be seen from Princeton, NJ)? I do not know what the elevations are between the sites. I believe if they build this building, that you will be able to see the top lights of the ESB from the roof of the American Commerce Center given a very clear night. This link I found shows the approximate line of sight (except from the Comcast Center): http://maps.google.com/maps/ms?ie=UTF8&h...29,-74.564209&spn=0.794949,1.785278&z=10. It seems elevation does not get much over 200 feet in between the sites.

You would be able to see from one point to the other given you knew where to look. Keep in mind at that distance you are looking at a really narrow object and would need sincere zoomvision. As it stands now, you would be able to see the ESB from Philadelphia's highest point, the TV masts in Roxborough. http://www.qsl.net/kd4sai/distance.html The 200 foot elevation in between would be overcome since light does bend to some degree, particularly at sunset.

cubanChris · #**1445** Posted **Jul 22, 2009, 1:19 PM**

Quote:

Councilman seeks control in plans for city's tallest

By CHRIS BRENNAN
Philadelphia Daily News

Mayor Nutter's desire for a City Planning Commission with more power over major construction projects bumped up yesterday against City Council's tradition of having the last word.

The American Commerce Center, a 1,510-foot office-and-hotel project proposed for 18th and Arch streets, was a test case last summer for a new approach to city planning.

Councilman Darrell Clarke introduced zoning legislation for the skyscraper, which would be the tallest building in the city and the country. The legislation, approved by Council in December, gave the Planning Commission final say on the plan of development.

Clarke said he had supported that fast-track approach then because the developer had hot prospects for tenants - GlaxoSmithKline and TD Bank. Those leads have since cooled, Clarke added.

In an unrelated zoning case, Planning Commission Executive Director Alan Greenberger testified in May that the new approach relieved Council members of "many difficult pressures" because "development in the city has become too complex."

That didn't sit well with Clarke.

"I didn't appreciate some of the language used in the testimony," said Clarke, who introduced legislation last month to return to Council final authority for the plan on how the American Commerce Center would be built.

The Planning Commission considered Clarke's new legislation in a meeting yesterday, voting unanimously to support it. Greenberger said the commission must "earn" any new powers.

"It is certainly our preference that plan of development review begin with the commission and end there," Greenberger said. "But that's a long-term goal."

Clarke's new legislation is on hold for a Council hearing until his colleagues return from summer recess Sept. 17.

"Given the economy, the likelihood that it will actually be built is somewhat limited," Clarke said of the massive project.

Plans call for a 1,210-foot office tower topped by a 300-foot spire and a 477-foot hotel attached by a sky bridge to the tower.

The project is going nowhere until the developer, Hill International Real Estate Partners, receives financing.

Peter Kelsen, an attorney for the developer, said lead tenants must be signed before construction on the tower would start. He declined to comment about GlaxoSmithKline and TD Bank.

A GlaxoSmithKline spokesman said the pharmaceutical giant has made "no decisions on moving" from its local offices.

A TD Bank spokeswoman said she would not "speculate or comment on rumors."

http://www.philly.com/philly/news/homepa...control_in_plans_for_city_s_tallest.html

<3's to city council.

We Got Five · #**1446** Posted **Jul 22, 2009, 8:43 PM**

"Given the economy, the likelihood that it will actually be built is somewhat limited," Clarke said of the massive project.

Ouch.

It's not looking good gang. Economically related (which it is) or not...we're not going to be able to pull the business community together for this one.

kingofleos · #**1447** Posted **Jul 23, 2009, 7:03 PM**

Quote:

Originally Posted by We Got Five

"Given the economy, the likelihood that it will actually be built is somewhat limited," Clarke said of the massive project.

Ouch.

It's not looking good gang. Economically related (which it is) or not...we're not going to be able to pull the business community together for this one.

We're feeling the same pains in Phoenix. Not sure if any of you know of our CityScape project, but we're still waiting word on the next tower getting built (which of course would be our tallest).

Looking through this thread, I really like this building the more and more I look at it. I'm pulling for you guys, it'd be a great addition to your skyline!

SSBMEXPERT · #**1448** Posted **Jul 27, 2009, 2:13 AM**

Hmmmm... I don't think I'm gonna start feeling any better about this untill I see some evidence that this might still be going forward... An update to the site would be nice.

I know it wouldn't mean much, but at least I could see that something more is going on.

*Sigh* Will Philly ever get it's chance at something over 1000 feet? The world may never know.

Starsky · #**1449** Posted **Aug 5, 2009, 8:29 AM**

This, in addition to most of Philly's skyscrapers look great. No batshit crazy, modern art buildings. Just pray that some crazy Swedish architect, Libeskind, or Gehry etc gets fixated on your city or the party is over.

Don098 · #**1450** Posted **Aug 18, 2009, 2:36 AM**

I'm going to pretend and lie to myself that no news is good news.

Who's with me

hammersklavier · #**1451** Posted **Aug 18, 2009, 3:04 AM**

Quote:

Originally Posted by Don098

I'm going to pretend and lie to myself that no news is good news.

Who's with me

Agreed.

philadelphiathrives · #**1452** Posted **Aug 18, 2009, 7:58 PM**

There's no need to fret. This is the time when projects would be delayed. If the economy were good and nothing were happening, then there would be cause for concern. But Hill International is strong enough to withstand the recession and hold onto the land until the economy improves.

Remember what happened with the Comcast Tower. It was first proposed in 2001 at the beginning of another recession. It took them three years to work out a deal with Comcast after years of arguments about tax incentives and the like. Then it still didn't break ground until 2006 and open until 2008, seven years after it was first proposed! If this breaks ground next year, then that would only be two years after it was proposed, not long for such a large project.

This is a great project in a great location with little controversy. This recession isn't going to last forever, no matter how hard the press tries to prolong it so that they have another "crisis" to talk about. There is no reason this shouldn't happen when the recession finally ends.

Zapatan · #**1453** Posted **Aug 24, 2009, 8:26 PM**

I know this building seems a little good to be true, but I have to agree with philadelphiathrives, most proposals look dim at the moment yet the recession can't last forever, and this building is in a perfect location and there is not much opposition at all. There is no reason to think this thing won't be built.

Monsieur Goat · #**1454** Posted **Sep 3, 2009, 9:29 PM**

I say build it, granted the design is not amazing, I care more about the attention Philadelphia will get from this, the business from it will surely help Philadelphia. I would love to see an economic growth in my home city and possibly more skyscrapers.

Wheelingman04 · #**1455** Posted **Sep 3, 2009, 9:46 PM**

A great city (one of the largest metros in the country obviously), needs a supertall like this.

Zapatan · #**1456** Posted **Sep 4, 2009, 8:34 PM**

True that^

I'm surprised that Philly hasn't built a supertall yet (Granted Comcast is damn close)

Monsieur Goat · #**1457** Posted **Sep 4, 2009, 8:45 PM**

Quote:

Originally Posted by Zapatan

True that^

I'm surprised that Philly hasn't built a supertall yet (Granted Comcast is damn close)

Thats pretty much because (correct me if I am wrong) Philly had virtually no money until the 80s when the first skyscrapers started showing up.

banned · #**1458** Posted **Sep 4, 2009, 11:27 PM**

Quote:

Originally Posted by Monsieur Goat

Philly had virtually no money until the 80s when the first skyscrapers started showing up.

Wow...I hope you're kidding...

theWatusi · #**1459** Posted **Sep 4, 2009, 11:48 PM**

Quote:

Originally Posted by Monsieur Goat

(correct me if I am wrong)

you're wrong

The A Train · #**1460** Posted **Sep 5, 2009, 5:28 PM**

Quote:

Originally Posted by Monsieur Goat

Thats pretty much because (correct me if I am wrong) Philly had virtually no money until the 80s when the first skyscrapers started showing up.

Wow.

Does the phrase "Gentlemen's Agreement" mean anything to you?