PHILADELPHIA | Highrise Development Thread X - Page 183

JohnIII · #**3641** Posted **Jan 27, 2022, 2:50 PM**

500+ tower coming.'

Sweeeeeeet

Hmmm, if we can get one east of 11th Street or west of 21st Street that would be great to spread out the skyline. If we could see it in Schuylkill Yards that would be great; it would be in addition to 3001 JFK. I would really, really like to see a tower of this height on the Gimble site at 8th and Market.

I wonder when we'll find out where the site is and the details.

Redddog · #**3642** Posted **Jan 27, 2022, 3:10 PM**

Quote:

Originally Posted by JohnIII

500+ tower coming.'

Sweeeeeeet

Hmmm, if we can get one east of 11th Street or west of 21st Street that would be great to spread out the skyline. If we could see it in Schuylkill Yards that would be great; it would be in addition to 3001 JFK. I would really, really like to see a tower of this height on the Gimble site at 8th and Market.

I wonder when we'll find out where the site is and the details.

If it were 8th and market, I think the universe might implode.

700 Level · #**3643** Posted **Jan 27, 2022, 3:44 PM**

Quote:

Originally Posted by summersm343

Another skyscraper proposal coming soon. 500+ footer. Can’t say more than that unfortunately… and I know, I know… this is very vague.

Summersm343 just dropped a bomb into this discussion thread!

mcgrath618 · #**3644** Posted **Jan 27, 2022, 3:56 PM**

Quote:

Originally Posted by Redddog

If it were 8th and market, I think the universe might implode.

8th and Market needs to be 500'+ given that location.

PHLtoNYC · #**3645** Posted **Jan 27, 2022, 3:56 PM**

Quote:

Originally Posted by Jawnadelphia

20th and Walnut certainly makes a ton of sense, but I noticed on Parkway Corp's website (who owns the lot at 20th and Walnut), they do not highlight this site as a development opportunity. Their lot at 1443-49 Cherry Street is featured, as well as 30 N. 21st street lot (near the Mutter), and 735 Arch Street, etc.
See more here: https://www.parkwaycorp.com/real-estate/opportunities

The 20th and Walnut lot isn't mentioned at all...

Speaking of Parkway, what happened to the planned mid-rise at 20th & Arch? Wasn't Chubb supposed to consolidate area operations on that site?

mcgrath618 · #**3646** Posted **Jan 27, 2022, 4:00 PM**

Quote:

Originally Posted by PHLtoNYC

Speaking of Parkway, what happened to the planned mid-rise at 20th & Arch? Wasn't Chubb supposed to consolidate area operations on that site?

I imagine The Problem hampered that a bit.

3rd&Brown · #**3647** Posted **Jan 27, 2022, 4:07 PM**

Quote:

Originally Posted by mcgrath618

I imagine The Problem hampered that a bit.

My gut tells me they're gonna take the office space proposed at Cathedral 2. There's A LOT of office space proposed for that building which would only be included (in this environment) if there was already a committed tenant.

Given the location, not that far from the original proposal, my spidey senses (which are often right) tell me it's for Chubb.

ScreamShatter · #**3648** Posted **Jan 27, 2022, 5:49 PM**

Quote:

Originally Posted by 3rd&Brown

My gut tells me they're gonna take the office space proposed at Cathedral 2. There's A LOT of office space proposed for that building which would only be included (in this environment) if there was already a committed tenant.

Given the location, not that far from the original proposal, my spidey senses (which are often right) tell me it's for Chubb.

Any reason why you think Chubb?

PHL10 · #**3649** Posted **Jan 27, 2022, 6:35 PM**

Quote:

Originally Posted by ScreamShatter

Any reason why you think Chubb?

He kind of explained exactly why - amount of office space being proposed, proximity to the originally proposed building (who's plan seems to have gone dormant), and his gut/spidey sense.

arkitect13 · #**3650** Posted **Jan 27, 2022, 6:48 PM**

When you say "500+ tower coming soon" What do you mean coming soon? Will the proposal go public within the next few weeks to maybe 2-3 months or by years end?

iamrobk · #**3651** Posted **Jan 27, 2022, 8:51 PM**

Edit: Never mind, I misunderstood the discussion.

summersm343 · #**3652** Posted **Jan 27, 2022, 11:44 PM**

Quote:

Originally Posted by arkitect13

When you say "500+ tower coming soon" What do you mean coming soon? Will the proposal go public within the next few weeks to maybe 2-3 months or by years end?

I would guess 2-3 months it’ll be public.

skyhigh07 · #**3653** Posted **Jan 27, 2022, 11:47 PM**

Quote:

Originally Posted by summersm343

I would guess 2-3 months it’ll be public.

Ach! You and iamrobk with your secrets!

El Duderino · #**3654** Posted **Jan 28, 2022, 1:12 AM**

i’ll bet anyone a buck it will be comcast 3.

mcgrath618 · #**3655** Posted **Jan 28, 2022, 2:54 AM**

Quote:

Originally Posted by El Duderino

i’ll bet anyone a buck it will be comcast 3.

You're on.

I take venmo.

Urbanthusiat · #**3656** Posted **Jan 28, 2022, 6:50 AM**

I’m going to put my money on a dark horse - the lot on the south side of 30th and Walnut along Penn Park.

ScreamShatter · #**3657** Posted **Jan 28, 2022, 12:23 PM**

Quote:

Originally Posted by PHL10

He kind of explained exactly why - amount of office space being proposed, proximity to the originally proposed building (who's plan seems to have gone dormant), and his gut/spidey sense.

Thanks, I read that. But I was more so wondering if he had a connection that confirmed or mentioned Chubb or why Chubb exactly. Not a company we hear tons about in Philly.

3rd&Brown · #**3658** Posted **Jan 28, 2022, 4:29 PM**

Quote:

Originally Posted by ScreamShatter

Thanks, I read that. But I was more so wondering if he had a connection that confirmed or mentioned Chubb or why Chubb exactly. Not a company we hear tons about in Philly.

No connection to anyone at all.

Just really good at recognizing patterns.

If I recall Cathedral 2 has at least 250K square feet of office space. For all intents and purposes, it is primarily an office building and secondarily a residential tower. That has not been picked up at all in the discussion about the building.

Nobody comes to market these days with that much office space on spec. Especially in Philadelphia.

mcgrath618 · #**3659** Posted **Jan 28, 2022, 4:33 PM**

Summers: have any of us hit the nail on the head yet? You don’t have to say who.

3rd&Brown · #**3660** Posted **Jan 28, 2022, 4:54 PM**

Quote:

Originally Posted by mcgrath618

Summers: have any of us hit the nail on the head yet? You don’t have to say who.

TBH, I really only care if it's a commercial/office project. If it's a tall residential tower, aren't they a dime a dozen these days?

The candidates are:

Comcast III
Chubb
Go Puff (though it feels like they are firmly ensconced east of Broad, which I like)
Some random biotech/pharma company planting a presence here to be in the midst of the gene therapy revolution in West Philly (I say leading contender is Roche)
Some random NY company that has realized it doesn't need to be in NY anymore.

On the latter note, as of recently, my (NY based) office has re-defined it's "local" recruiting zone for job searches as Philadelphia to New Haven CT now that there is less pressure to come into the office every day. Obviously done also to increase recruiting pool as things are tight for everyone. But of note, people who live in Philadelphia are defined as "local" and paid NY wages.

We've hired 4 Philly based people in the last few months and none are moving (to NYC). 2 of us also moved to Philly during the pandemic, so there are 6 out of 200 (that I know of, I know like 25% of my office) doing this.

It doesn't sound like a lot but 3% of all the jobs in NYC is a lot of jobs if the same pattern is happening at many employers.