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

[OneWorldTradeCenter]

Originally Posted by theWatusi

Whenever they can land a tenant.

I know, I read this on wikipedia, that there is currently no anchor tenant. Could someone change to completion year in the diagrams? 2012 is simply not realistic. I guess it won´t be finshed until 2014.

[Don098]

Does anyone think there might be a re-design? Didn't Comcast go through several versions while they waiting for funding, etc.? Does anyone think that could happen with the ACC?

[Rail>Auto]

I sure hope not.... unless its a slight moderation of the current version.

[shakman]

Originally Posted by Don098

Does anyone think there might be a re-design? Didn't Comcast go through several versions while they waiting for funding, etc.? Does anyone think that could happen with the ACC?

There were some changes with Comcast. Before Comcast inked a deal, the proposed tower was much shorter and in addition, there would have been an even shorter, second highrise.

[hammersklavier]

Originally Posted by shakman

There were some changes with Comcast. Before Comcast inked a deal, the proposed tower was much shorter and in addition, there would have been an even shorter, second highrise.

That second tower (2 Pennsylvania Plaza) is still part of the overall development plan. It was originally going to have a Deco-inspired façade reflecting the (also Deco-inspired) Mellon Bank Center and the real Deco 1 Penn Center (aka Suburban Station building). Apparently, Stern & Co. decided to have another look at plans for that structure back in 2008, and that's the last we've heard of it.

[volguus zildrohar]

1PP underwent several design changes. Some were shorter than what became Comcast Center, one was over 1,000 feet tall and 83 stories. I think ACC will undergo a change in program regardless of how well the economy rebounds - I actually believed that before the bottom fell out. I think the final product will still break 1,000 feet simply because I think the developers are serious about doing the project and would like to break that psychological barrier but it will be less lofty than the proposal as it sits now.

[wanderer34]

You know, I would've loved for this tower to have at least been in construction right now (that and another Phillies championship), but I guess neither happened. I hope it's still in the plans for the city. You can't just throw away those types of ideas and leave them to waste.

[Infernal_Elf]

indeed and that park 150 meters up in the air is just great

[SSBMEXPERT]

I don't want to give up on this prodject, but I feel pushed to. I know its just a building, but it is pretty depressing. To me this represented more than just an addition to the skyline, it showed that Philadelphia had potential, potential that I thought I could only dream about.

Not to say, that the city isn't great as is, but just to know that this city hasn't seen anything like this means something. Its like some kind of limitation, and I thought it would finally be lifted. Perhaps giving the city a new image in some ways other than hieght, maybe even placing in the ranks of the other major U.S. cities.

But I guess until something new (and good) finally comes up on this thing, I guess it will remain a dream. I wouldn't even mind if this was Philly last tower, as long as the limitation fades, and that hidden potential is exposed, thats all that matters to me right now.

That's what the American Commerce Center means to me. After all, "This Changes Everything." Or, at least it could...

[We Got Five]

Companies need to ask themselves "why would I move my operations to Philadelphia?" When you look at our tax structure, poor business climate, etc...how attractive are we? I've argued for years that we're not competitive in this landscape. Until we're able to make Philadelphia a pro-business city, this right now is a pipe dream.

[wanderer34]

Originally Posted by We Got Five

Companies need to ask themselves "why would I move my operations to Philadelphia?" When you look at our tax structure, poor business climate, etc...how attractive are we? I've argued for years that we're not competitive in this landscape. Until we're able to make Philadelphia a pro-business city, this right now is a pipe dream.

I'll agree, and that's the f'd up part about all of this. Nutter just doesn't seem to have any innovative ideas whatsoever, except maybe to add a "suar tax". HELL!!!! Just tax sugar, for all I care!!!! But this is really dissapointing, especially when Philly is supposed to be coming up (population, sports, etc.). A real dissapointment that this won't get built on time!!!!!

[hammersklavier]

Just be patient. Skyscrapers have long development cycles.

Granted, it won't be done in 2012, but that was a really optimistic prediction anyway.

Or would you want a rushed project that ran out of money halfway through, like the Waterview Tower in Chicago?

[Don098]

So aside from the old high taxes argument, which I think is oversimplifying the issue, what are the real obstacles at this point? There were tenants interested in this building before, but financing was the primary concern. Now that the economy has begun to turn around (for the big people people at least - certainly not for the little people) has credit thawed sufficiently or is it still next to impossible to get a loan? What's the state of material costs at this point? Has anyone been in touch with the developers or architects that might know of redesigns, etc.? Have their been any hearings on this building lately? What came of the traffic models? I think it's time for a serious update on this building. It's been too quiet.

[shakman]

Originally Posted by hammersklavier

Just be patient. Skyscrapers have long development cycles.

Granted, it won't be done in 2012, but that was a really optimistic prediction anyway.

Or would you want a rushed project that ran out of money halfway through, like the Waterview Tower in Chicago?

I could not agree with you more... things take time.

Philly has a lot to offer minus this tower (and a WS championship ). However I am just as eager to see this project through.

[justremember]

Even though I've been following this board for a few years, I still consider myself a novice when observing new development.

Am I correct in assuming that this building will very likely be built, even if it takes just a few more years than we first thought?

[philadelphiathrives]

Originally Posted by justremember

Even though I've been following this board for a few years, I still consider myself a novice when observing new development.

Am I correct in assuming that this building will very likely be built, even if it takes just a few more years than we first thought?

I agree. These projects take time; remember it took 20 years to build that 1500 foot screwdriver in Shanghai.

The long term fundamentals of this project, as big as it is, are good. The vacancy rate of office space in Center City was 12% last year, which is relatively low for such a bad recession. The site is located in the heart of a very large and crowded business district, surrounded by many corporate headquarters and towers; it's within walking distance of what will be the world's largest museum district (which itself is undergoing several streetscape improvements); it's within walking distance of several of the country's most upscale neighborhoods; adjacent to one of the largest regional rail systems in the world; and a few blocks from the expanding PA Convention Center, the number one convention center in the world for medical conventions. Plus, the ACC will have several upscale stores, restaurants, and a movie theater, which adds to what Comcast Center has and all the fancy stores and restaurants of Rittenhouse Square. Obviously, I don't buy the "taxes are too high" argument. It's not what you pay; it's what you get in return.

So, I think this will be built. We just have to be patient.

[Don098]

So I guess no one has heard anything about this project at all? Nothing in the Philadelphia Business Journal...no one has connections to the developers or architects, etc.? Nothing from city council, DAG, PlanPhilly? Has the credit market thawed yet? I'm still trying to find out what the principle impediment is at this point. Where are they stuck?

[volguus zildrohar]

Financing and securing a tenant, I would think. The economy is supposedly getting better and when it actually does this project, along with many others will probably get underway.

[We Got Five]

Securing a lead tenant is the biggest obstacle at this point. Unless they surprise us all and land someone outside the area, their putting their eggs in GSK's basket. GSK's lease expires in 2013/2014 and there has been little discussion on their situation in the last 6 months.

[uaarkson]

Why don't these threads get locked until real news rolls around? I'm sick of opening this with hopes of real developments only to be slapped across the face with yet another "WILL IT GET BUILD????"