PHILADELPHIA | EVO @ Cira Centre South | 407 FT | 33 FLRS | U/C

[cubanChris]

I believe the original plans peg this tower @ 500k sq feet of office space. To recap what has been said, UPenn originally committed to 100k sq feet, leaving a remaining 400k... As stated, this would certainly be enough to kick it off as it would be 100% leased.

However, I could also see that as a potential stumbling block as the article also claimed CHoP wanted 400k PLUS room to grow. I'd imagine as design plans change (ie: Comcast) when anchor tenants sign on and kick off, this could be accommodated. And while we're talking about bespoke changes, because CHoP's complex is so close by, there is potential for some very creative pedestrian access from the Cira complex TO PennPark/the Hospitals.

I suppose the question really becomes, is it cost effective for them.

Lets hope so!

[hammersklavier]

Brandywine can sell CHoP on this big time. All 400k available office space in Cira South at a stroke and priority on any other proposal in the Cira complex (I've seen at least two defined well enough for renders, including one on the NW corner of 30th and JFK). As well as, of course, the ease of access between Cira and the med complex (you may not know this, but there's a fairly direct north-south pedestrian path between 30th Street Station and University City station, if you know where you're going: follow 31st Street to a blue truss behind Penn's tennis pavilion, cross that truss, and then round the back of Franklin Field; you are--violà!--at University City station.)

(Note: this is what Brandywine's marketers are going to tell CHoP, not where CHoP's actually going to go.)

[cubanChris]

It is pretty key for public transport commuting... I wonder if construction (labor/materials/etc) costs have come down much, if at all, since their high points shortly before this building was proposed? As in, could that be a contributing factor in offering more manageable construction, and therefore, office rates?

I know, its grabbing at straws. Just curious though, I have no insight into those type of things.

[alasi]

Does the 500,000 figure include both the Walnut and Chestnut St. towers?

[alasi]

Sorry, answered my own question by looking at the first page. However, given the sad state of the residential market, who's to say that Brandywine couldn't offer the smaller tower as a carrot to CHOP.

[hammersklavier]

Originally Posted by alasi

given the sad state of the residential market, who's to say that Brandywine couldn't offer the smaller tower as a carrot to CHOP.

An interesting idea.

Remember, though, it's also in an area where both Penn and Drexel--as well as any number of private student-apartment landlords--might make an offer on it to convert it into a dormitory structure (an amenity that's eternally lacking on urban campuses).

EDIT: There's also a model in the Brandywine office just off the Cira Centre lobby that depicts another, bigger building in the Cira complex behind 30th St. Station. It looks like it would go on the lot at the NW corner of 30th and JFK (and probably include a lobby that would connect to the upper station platforms). Much as Cygna fueled the construction of the entire Liberty Place complex, it wouldn't be out of place for CHoP to fuel the expansion of the Cira complex. This is another big carrot Brandywine can offer that the JFK building site simply can't.

[Plokoon11]

How big in feet was the taller tower you saw at the lobby?

[hammersklavier]

It looked to be about 100-150 ft. taller than Cira. Slightly taller than Cira South as well. (550-600 ft.?)

I shot a picture of it this afternoon. I'll get it uploaded sometime soon, I hope.

There's no doubt that once Cira South's tower component gets rolling Brandywine will start marketing that other building. Also note that, if I am correct (I haven't been in the actual office just off the lobby it's in, and can only judge what I can tell about it looking west) this construction would be a good deal more expensive than previous Cira entries (due to it needing to actually have to build on air-rights directly above active train tracks, something, interestingly enough, that neither Cira nor Cira South (have) need(ed to) do).

[begoonie]

Is this the one?

http://forum.skyscraperpage.com/showpost.php?p=3272701&postcount=76

[hammersklavier]

Yes indeed. I think that's probably the biggest carrot Brandywine could offer CHoP for locating in Cira South.

[bobo19023]

Sorry to burst anyones bubble out there but the two towers are on indefinite hold right now. I work for teh misc metals contractor doing the garage. The two towers arent going to be built any time soon because of financial issues with the garage. Instead they will be lots of grass.

[Don098]

Nearly every proposed mid-rise building here in Rosslyn, VA has been put on hold. It's not Philadelphia, it's the entire construction industry across the United States.

[TheBroadStreetBull]

I have seen some activity at the site recently. Anyone have any updates on this?

[thenbagis]

Originally Posted by TheBroadStreetBull

I have seen some activity at the site recently. Anyone have any updates on this?

Any pictures?

I know there is a lot of activity right now just north of it as they work on the Penn Park
http://www.pennconnects.upenn.edu/find_a_project/alphabetical/penn_park_alpha/penn_park_images.php

[Philadelcago]

well, according to the press release back in '07, and if activity is indeed happening on the site, things are going as planned:

source: http://www.pennconnects.upenn.edu/news_articles_pdfs/New_Towers_To_Rise_On_30th_St.pdf

The post office conversion and construction of a 2,400-space parking garage will be the $365 million first phase of the project,
to be completed by 2010.

Done.

The office and residential towers will follow, to be completed by 2012 at a cost of about $400 million.

happening now?

[Infernal_Elf]

very intresting and cool project kind alike a smaller version of the American Commerce Center philadelphia certantly deserves this

[Pennsgrant]

Originally Posted by Philadelcago

well, according to the press release back in '07, and if activity is indeed happening on the site, things are going as planned:

source: http://www.pennconnects.upenn.edu/news_articles_pdfs/New_Towers_To_Rise_On_30th_St.pdf

Done. happening now?

NO!

They are finishing up the Post Office/IRS Building and Garage.

Nothing is going on with the tower at all. Need anchor tenant.

[hammersklavier]

CHoP is doing something with the massive warehouse and beer distributor along the Schuylkill in Grad Hospital, so they're not a good fit.

[We Got Five]

Talked to a very credible source out of their Plainsboro, NJ location and they have decided to move almost all (Jersey) operations to Wilmington and New York City. Apparently the deal with Brandywine was alive up until a few months ago. Almost 25% of the work force traveled from Bucks County to Plainsboro, shame. Cira South will not hold BlackRock.

[wanderer34]

Originally Posted by We Got Five

Talked to a very credible source out of their Plainsboro, NJ location and they have decided to move almost all (Jersey) operations to Wilmington and New York City. Apparently the deal with Brandywine was alive up until a few months ago. Almost 25% of the work force traveled from Bucks County to Plainsboro, shame. Cira South will not hold BlackRock.

This sucks big time. Was the delay of the Cira Centre 2 a big factor in BlackRock not coming to Philly???? If that's the case, the the city and state gov't should've done something to ensure that the complex is being built rather than just leaving a parking garage. Once again, Nutter blows BIG TIME!!!!!!