PHILADELPHIA | The Arbour House @ 708 Sansom | 414 FT | 35 FLOORS

[jsbrook]

Originally Posted by allovertown

People hate on toll because they're in the Philadelphia suburbs and yet what have they actually built in Philadelphia? They'll build nice skyscrapers in other cities and then their big foray into the Philadelphia Market involved a highly controversial project that knocked down historic buildings and their original design was so dog shit terrible, it might as well have been a giant middle finger to this city.

The fact that they're a fortune 500 company, is just more bad news. Because you're definitely right, they could sit on this for as long as they want and not really feel any pain. Unfortunately I don't think there's a chance in hell they sell it for a loss. If they don't want to start building, why wouldn't they hang on to it for years and wait until it makes more sense to build? All the hard work of securing demolitions and getting approval for the project is over. This will be a profitable development location at some point again in the future, and they have the resources to wait until however long that is.

And I know people hate to hear it, but after the buildings were demolished, they did shit for months before the pandemic became an issue. Clear as day that their rush to demolish the buildings was all about the fear that a future decision could prevent their demolition, and nothing to do with a rush to actually start construction. If they were already dragging their feet in a good economy, hard to imagine they're very motivated in the midst of a global pandemic.

Exactly. All of this.