PHILADELPHIA | 2222 Market Street| 282 FT | 20 FLOORS

[SEFTA]

2222 Market Street.
Wish it were taller but very nice.
The area is filling nicely... hopefully

2222 Market Street 8-1-20

[Nelsondvm2015]

Not much in way of information, but I was excited to see that the little parking attendant office was gone, and all the entrances are now blocked off by cones and caution tape. Hopefully, we may start seeing movement here soon.

[TK2001]

How exciting! I really like this building

[cardeza]

Originally Posted by Nelsondvm2015

Not much in way of information, but I was excited to see that the little parking attendant office was gone, and all the entrances are now blocked off by cones and caution tape. Hopefully, we may start seeing movement here soon.

no building permit yet.

[summersm343]

Nice! Some progress.

[TK2001]

https://commercialobserver.com/2020/...ion-financing/

[Urbanthusiat]

Originally Posted by TK2001

https://commercialobserver.com/2020/...ion-financing/

Nice! That plus ending parking operations means we should be seeing dirt move soon

[GtownFriend]

Originally Posted by Nelsondvm2015

This is going to be an exciting building!

Also thinking that the billboard on top of TJs building is soon going to be history. With the 3 PMC towers and this one, no one will be able to see it from the expressway any more

[TempleGuy1000]

Parkway Corp. closes on $187M to finance Center City law firm headquarters tower

https://www.inquirer.com/business/mo...-20200811.html

[City Wide]

Not that it matters very much if at all, but when the lot was cleared I believe Parkway was only given a temporary permit to run a parking lot, maybe for a couple years. I doubt anyone, certain no one on this forum, is going to be upset by the parking lot going away. (wasn't the porn theater called the forum?)

[Nelsondvm2015]

Permits have been pulled!

http://http://www.rising.realestate/...-office-tower/

[NYguy]

https://commercialobserver.com/2020/...ion-financing/

Philly Office Tower Rises With $187M in Construction Financing
The financing comprises a senior loan, mezzanine debt and a preferred equity component.


BY CATHY CUNNINGHAM
AUGUST 11, 2020

Located in Philly’s Center City neighborhood, the 19-story, built-to-suit trophy office comprises 305,000 square feet and is pre-leased to law firm Morgan, Lewis and Bockius. When completed, its amenities will include a 3,500-square-foot fitness center, a rooftop terrace and a 50-space below-grade parking garage.

“This is going to be a tremendous project, and an important addition to a dynamic and vibrant Center City Philadelphia. We are thrilled to be a part of the deal, and more importantly, a part of the team, from Parkway Corporation and Morgan Lewis to Meridian Capital and our lending partners,” Tony Fineman, Head of Eastern Region Originations at ACORE, told CO. “This transaction is extra special to me, having grown up in Philadelphia. I attended college a few blocks away. We look forward to watching the progress of the development and seeing its inevitable success.“

Sitting close to City Hall and also the new Comcast headquarters, the Gensler-designed office property will be the first non-Comcast commercial office building in the city’s central business district in over 30 years.

[City Wide]

^^^^^^^
The first non Comcast commercial building to be built in CC in 30 years. That's amazing, hard to believe, and sad. I wonder if that stat compares to any other central business district in the top 10 or 15 largest cities. What's equally amazing is in that 30 year period theres been a number of other commercial buildings converted to residential. And at the same time as all shrinkage has been taking place CC has become even more active and alive and one that only can be matched in a few other cities, Boston, NYC, and Chicago come to mind. Thank god for Comcast and peoples desire to live in CC.

[mcgrath618]

Don't forget also, there has been new office space built in Philadelphia in the last 30 years. It's just in University City.

[cardeza]

Permit pulled:

http://www.rising.realestate/permits...-office-tower/

[ScreamShatter]

Originally Posted by City Wide

^^^^^^^
The first non Comcast commercial building to be built in CC in 30 years. That's amazing, hard to believe, and sad. I wonder if that stat compares to any other central business district in the top 10 or 15 largest cities. What's equally amazing is in that 30 year period theres been a number of other commercial buildings converted to residential. And at the same time as all shrinkage has been taking place CC has become even more active and alive and one that only can be matched in a few other cities, Boston, NYC, and Chicago come to mind. Thank god for Comcast and peoples desire to live in CC.

Does the new Aramark building not count?

[frbrown]

Originally Posted by City Wide

^^^^^^^
The first non Comcast commercial building to be built in CC in 30 years. That's amazing, hard to believe, and sad. I wonder if that stat compares to any other central business district in the top 10 or 15 largest cities. What's equally amazing is in that 30 year period theres been a number of other commercial buildings converted to residential. And at the same time as all shrinkage has been taking place CC has become even more active and alive and one that only can be matched in a few other cities, Boston, NYC, and Chicago come to mind. Thank god for Comcast and peoples desire to live in CC.

It's also important to remember that job growth in University City drives residents in center city. UC has added tens of thousands of jobs in the last decade, and there have been multiple new commercial buildings west of the Schuylkill. Many of these workers live in center city (and surrounding), and contribute to its liveliness.

[McBane]

Originally Posted by ScreamShatter

Does the new Aramark building not count?

According to the ultimate authority - Wikipedia (lol) - it was built in 1984. But a few of our trophy buildings did go up in the early 90's during that wave of post Liberty 1 construction, including Liberty 2, Mellon Bank and IBX in 1990; Bell Atlantic in 1991; and 2 Commerce Square (1992).

But since then, the only office construction in Center City has been Comcast 1 and 2. I know 1 received tax breaks, did 2? Is this the first office building in CC to be constructed without tax breaks since 1992?

As far as the design goes - it's gorgeous. It's one of those ones I wish was taller, not because we're skyscraper nerds and want everything to be taller; rather this is a real beauty and I wish it was tall enough to make more of an impact on our skyline. Regardless, this will do wonders at street level and go a long way in remaking that once seedy part of Market Street.

[PHL10]

Originally Posted by McBane

According to the ultimate authority - Wikipedia (lol) - it was built in 1984. But a few of our trophy buildings did go up in the early 90's during that wave of post Liberty 1 construction, including Liberty 2, Mellon Bank and IBX in 1990; Bell Atlantic in 1991; and 2 Commerce Square (1992).

But since then, the only office construction in Center City has been Comcast 1 and 2. I know 1 received tax breaks, did 2? Is this the first office building in CC to be constructed without tax breaks since 1992?

As far as the design goes - it's gorgeous. It's one of those ones I wish was taller, not because we're skyscraper nerds and want everything to be taller; rather this is a real beauty and I wish it was tall enough to make more of an impact on our skyline. Regardless, this will do wonders at street level and go a long way in remaking that once seedy part of Market Street.

I think he meant the new Aramark on the Schuylkill but that was an overbuild and may not count.

[Groundhog]

Originally Posted by mcgrath618

Don't forget also, there has been new office space built in Philadelphia in the last 30 years. It's just in University City.

and the Navy Yard as well.

Still sad that CC hasn't had office growth in so long, but the city has grown new business districts as a result, which isn't the worst thing in the world.