PHILADELPHIA | Highrise Development Thread IX

[PhilliesPhan]

Originally Posted by Cro Burnham

I personally know many GREAT people who work for the City. Those people are not the problem, as you point out. The problem is the people (from Darrell Clarke and Bob Brady on down to the legions of cronies in their respective feeding processions) who do everything they can to prevent the decent, talented people from implementing what needs to be done to elevate Philadelphia from its tenuously maintained second-tier status.

With all of the young people who are absolutely in love with this city and are electing to stay (myself included), I am certain that change is in the air. We see Philly for what it is and what it can potentially be if we can kick corruption out of City Hall. I am sure that it can and will happen. Once the older generation of Philly politicians gives way to the newer generation, I believe that Philly can elevate itself above "second-tier status". We have the assets to be above that status, but corruption needs to go in order to make a complete transformation.

[summersm343]

1901 Arch update

Comcast will occupy one tower here estimated to rise 650 ft tall. This tower will front 19th and Arch. At 20th and Arch, a 350-450 ft residential tower with ground floor retail. Comcast will partner with the management company/operator of the residential space for housing for Comcast employees for any short term or extended stay rentals. At 19th and Cherry, a second office tower anticipated to rise 450-550 feet. This tower will be fully office space - no tenants named. The rowhomes along 20th and and a small portion of the surface parking lot will stay for now and potentially accommodate a 4th tower in the future (LPT has not acquired all homes as of yet).

This is very early preliminary information, but gives and idea of the scope they're looking at here.

[MikeNigh]

Are they going to extend the concourse even further?

[Plokoon11]

Originally Posted by summersm343

1901 Arch update

Comcast will occupy one tower here estimated to rise 650 ft tall. This tower will front 19th and Arch. At 20th and Arch, a 350-450 ft residential tower with ground floor retail. Comcast will partner with the management company/operator of the residential space for housing for Comcast employees for any short term or extended stay rentals. At 19th and Cherry, a second office tower anticipated to rise 450-550 feet. This tower will be fully office space - no tenants named. The rowhomes along 20th and and a small portion of the surface parking lot will stay for now and potentially accommodate a 4th tower in the future (LPT has not acquired all homes as of yet).

This is very early preliminary information, but gives and idea of the scope they're looking at here.

:O That's quite a lot of new possible buildings!

[Philly Fan]

Originally Posted by Plokoon11

:O That's quite a lot of new possible buildings!

And that's WITHOUT buying Time Warner Cable.

[Plokoon11]

I hope they can make 650-800 ft

[Cro Burnham]

Originally Posted by PhilliesPhan

I am certain that change is in the air. We see Philly for what it is and what it can potentially be if we can kick corruption out of City Hall. I am sure that it can and will happen

I loooove your optimism and agree - I've stuck here for most of the last 25 years after a few years away, own a house here too. I'm heavily invested financially and emotionally in the success of this city.

But what you say will only happen if people like us remain both optimistic andincredibly skeptical - and willing to kick up a major — storm on a dime every time the party hacks try to jack us up, which is several times a month.

Your forecast is unlikely to pass as long as the status quo is enabled to persist, as long as people excuse, rationalize, justify the incompetence and venality of the machine politicians running stuff, and as long as they make asinine excuses and rationalizations for the obviously sub par showing Philly makes in comparison to what should be its pier cities (Boston, DC, Seattle, etc.) in terms of growth, progressive policies, and economic sustainability.

Folks who say City government is doing just a dandy job, deserves to raise taxes as it sees fit, doesn't really need to cut any fat; folks who say that Philadelphia's weak employment growth and second-tier business status are exaggerated and don't really matter . . . . those people: hard to understand what is going in their heads, but the machine politicians and cronies love that there are suckers out there who think like that.

[BenKatzPhillytoParis]

Originally Posted by summersm343

1901 Arch update

Comcast will occupy one tower here estimated to rise 650 ft tall. This tower will front 19th and Arch. At 20th and Arch, a 350-450 ft residential tower with ground floor retail. Comcast will partner with the management company/operator of the residential space for housing for Comcast employees for any short term or extended stay rentals. At 19th and Cherry, a second office tower anticipated to rise 450-550 feet. This tower will be fully office space - no tenants named. The rowhomes along 20th and and a small portion of the surface parking lot will stay for now and potentially accommodate a 4th tower in the future (LPT has not acquired all homes as of yet).

This is very early preliminary information, but gives and idea of the scope they're looking at here.

I think all three of those proposed towers would be great. Though LSNA will start getting really anxious about violations of the agreement on height in the neighborhood area. Demo'ing 19th century 20th street apartments would be a red line I think. And I would have their back there. They are a really beautiful bookend to the neighborhood. Of course this doesn't include the dog of a building taking up 40% of the 20th street frontage, so the 19th century buildings are only about 10% or less of the whole block. Take the other 90% and build high, but you lose a tremendous amount of character and beauty for only a little more space with the old buildings.

[ScreamShatter]

Has it been said how many jobs Comcast plans to add in Philly over the next couple of years?

[McBane]

Amazing news. Thanks Summers for the scoop!

Originally Posted by BenKatzPhillytoParis

I think all three of those proposed towers would be great. Though LSNA will start getting really anxious about violations of the agreement on height in the neighborhood area. Demo'ing 19th century 20th street apartments would be a red line I think. And I would have their back there. They are a really beautiful bookend to the neighborhood. Of course this doesn't include the dog of a building taking up 40% of the 20th street frontage, so the 19th century buildings are only about 10% or less of the whole block. Take the other 90% and build high, but you lose a tremendous amount of character and beauty for only a little more space with the old buildings.

This makes sense but I wouldn't oppose losing these buildings for a well designed, tall tower (not PMC shlock).

On the other hand, I'd much rather LPT develop this empty lot before it starts demolishing an intact row of 19th century homes. Assuming this would an office building, 18th and JFK is a far better location than 20th and Arch; plus it offers direct access to Suburban Station. Also, despite underground limitations, you can build taller at 18th and JFK than what LSNA would allow at 20th and Arch. Of course, I agree that they would fight demolition in the first place.

[summersm343]

FMC Corp. moves into new tower - BNY Mellon vacancy update

FMC Corp. plans to move this weekend into its still-under-construction University City headquarters tower, among the most prominent of the recent building projects that are reshaping the city's skyline.

The chemicals giant will be the first tenant in the glass tower that will bear its name near 30th Street Station, where it is to occupy 250,000 square feet over nine floors, communications chief Ken Gedaka said in an interview on Thursday.

The move was timed to beat the expiration of its lease at its current home, the BNY Mellon Center tower at 1735 Market St., which it had occupied since 1991. That building's owner is considering an elevated deck and other new amenities to help revive occupancy levels after FMC's departure.

The chemical company's departure will leave the 1.3 million-square-foot BNY Mellon tower, about a mile away, with 445,000 feet of vacant space, according to the building's owner, Equity Commonwealth. Also contributing to the 54-story building's vacant space was the downsizing of its namesake tenant, Bank of New York Mellon, which let a lease for 184,000 square feet lapse last year.

Equity Commonwealth's chief operating officer, David Weinberg, told analysts during a conference call on May 4 that the company was "looking at adding a tenant lounge, conference center, and a rooftop deck" at the building. A spokeswoman for the Chicago-based real estate trust did not return calls seeking additional details about the renovation plans.

The deck would likely overlook Market Street from the broad five-story base that supports the building's narrower remaining floors, according to Mitch Marcus, a managing director at commercial real estate services firm JLL who has seen plans for the site.

The lounge and conference rooms would also be on the fifth floor, inside the building leading to the deck, he said.

Read more at http://www.philly.com/philly/business/re...sity_City_tower.html#xMX8rROTvHpsKZXo.99

[summersm343]

PFM financial firm moving to BNY Mellon Center

The PFM Group financial advisory firm is moving its corporate headquarters from Two Logan Square at 18th and Arch Streets to a larger space at the BNY Mellon Center building at 1735 Market St.

The move is designed to allow the company to expand and will put staff in a better-configured space with more shared areas, chief executive John Bonow said in a release on Friday.

The company will occupy the 42nd and 43rd floors at the BNY Mellon building, owned by Chicago-based Equity Commonwealth. A PFM spokesman did not immediately know the space's square footage.

Read more at http://www.philly.com/philly/business/re...Y_Mellon_Center.html#wgruGYXyMZL3YBZV.99

[stormkingfan]

Originally Posted by PHL10

Good catch, I didn't notice those 4 British looking lads until you mentioned it.

Oh they're not just British. They're scousers. (Aye! Iz right, la!)

[thisisforreal]

From yesterday:

[WestCoastSupertall]

^^ wow! I took a quick glance and almost didn't recognize the city. Skyline looks fantastic from that angle.

[Caruso975]

Originally Posted by summersm343

1901 Arch update

Comcast will occupy one tower here estimated to rise 650 ft tall. This tower will front 19th and Arch. At 20th and Arch, a 350-450 ft residential tower with ground floor retail. Comcast will partner with the management company/operator of the residential space for housing for Comcast employees for any short term or extended stay rentals. At 19th and Cherry, a second office tower anticipated to rise 450-550 feet. This tower will be fully office space - no tenants named. The rowhomes along 20th and and a small portion of the surface parking lot will stay for now and potentially accommodate a 4th tower in the future (LPT has not acquired all homes as of yet).

This is very early preliminary information, but gives and idea of the scope they're looking at here.

To be clear, this is just wishful thinking/speculation and is in no way based upon fact. There are no plans for three towers, nor for the acquisition of, much less the demolition of ANY of the of the historic homes along 20th Street, nor for that matter, for any new tower at all.

[Outta here]

Originally Posted by Caruso975

To be clear, this is just wishful thinking/speculation and is in no way based upon fact. There are no plans for three towers, nor for the acquisition of, much less the demolition of ANY of the of the historic homes along 20th Street, nor for that matter, for any new tower at all.

Yes , that appears to be more like the truth . Once upon a time I thought there " might " be reason to build a third tower
but I'm putting this one in with some of the other " wish list , Disney hole , fantasy land " proposals that fall in line with
the likes of such well publicized fairy tales as , Mandeville Place , Bridgeman's View Tower , City Center Tower , the
American Commerce Center , the World Industry Center and the latest .... 40 years down the road , Schuylkill Yards dream ,
that if ever completed will probably be down sized to something that has little resemblance to the present proposal ......
sort of like the incredible shrinking SLS tower on South Broad ....... sorry to say .

[Elevator1]

Originally Posted by Outta here

Yes , that appears to be more like the truth . Once upon a time I thought there " might " be reason to build a third tower
but I'm putting this one in with some of the other " wish list , Disney hole , fantasy land " proposals that fall in line with
the likes of such well publicized fairy tales as , Mandeville Place , Bridgeman's View Tower , City Center Tower , the
American Commerce Center , the World Industry Center and the latest .... 40 years down the road , Schuylkill Yards dream ,
that if ever completed will probably be down sized to something that has little resemblance to the present proposal ......
sort of like the incredible shrinking SLS tower on South Broad ....... sorry to say .

However, the parcels on this block ARE being accumulated. Just because there are no specific "plans" issued doesn't mean there are no thoughts (plans) at all for this accumulation. This is not done randomly because it may be useful someday. Just not good business to have "plans" before there is a reason to share them.

[Jawnadelphia]

Sounds like someone leaked the news to Summers and now Caruso is doing damage control. 3 towers!! Build build build! Did Liberty sign Ingels (BIG) to do one of the towers.., that's my speculation. They are pals - Navy Yard project, he was just in town getting some award. 3 towers, Ingels .... Oh yeah! (It's Monday lets go crazy!).

[McBane]

Originally Posted by TallCoolOne

Sounds like someone leaked the news to Summers and now Caruso is doing damage control. 3 towers!! Build build build! Did Liberty sign Ingels (BIG) to do one of the towers.., that's my speculation. They are pals - Navy Yard project, he was just in town getting some award. 3 towers, Ingels .... Oh yeah! (It's Monday lets go crazy!).

All 11 of Caruso's posts are related to LPT projects. Just sayin...