PHILADELPHIA | Two Cathedral Square | 470 FT | 34 FLOORS

[Urbanthusiat]

Originally Posted by El Duderino

http://philadelphia.cbslocal.com/2017/11...pment-project-sparks-national-attention/

looks like this lot is getting some serious attention (at least according to those who are selling it). would absolutely love to see this get developed sooner rather than later.

Not terribly surprising for this kind of land at this location. Developing with an institution like the Catholic Church pretty much guarantees success on the project for the developer. Institutions can make a long-term commitment to the project's success and can tolerate short-term losses, unlike for-profit investors. That's why the LDS was able to do such a good job with 1601 Vine. Good taste is one part of it of course, but the church isn't going anywhere, and if they want the lot to be developed, it will get developed one way or another because they're in it for the long-haul.