[Swinefeld]

1601 Vine Street

Website: BBG-BBGM Architects (http://www.bbg-bbgm.com/)

Location: 1601 Vine Street (duh), Philadelphia, PA 19103
Usage: Mixed Use:
• Residential
• Hotel
• Retail

Tower I:
Height: estimated 530' (162 meters) Floors: 46

Tower II:
Height: estimated 138' (42 meters) Floors: 12

Architects:
Brennan Beer Gorman (lead)
Edwards & Zuck (sub)

Developer: Grosso Holdings
Estimated Cost: $300,000,000
Units/Hotel: 250 units
Units/Condominium: TBA
Groundbreaking: Late 2007
Completion: 2009
Amenities/Features:
• Luxury Condominiums
• 5-Star Hotel
• Central refrigeration and boiler plant servicing the entire complex
• 4 Pipe fan coil systems for the Hotel & Residential
• Hi tension 13.8KV electric service throughout complex
• Restaurants, swimming pool, public meeting areas
• 8-level above ground parking garage

Images

Renderings from BBG-BBGM (Brennan Beer Gorman) Architects.
http://i43.photobucket.com/albums/e388/Swinefeld/New%20Constructon/1601_1.jpg http://i43.photobucket.com/albums/e388/Swinefeld/New%20Constructon/1601_2.jpg http://i43.photobucket.com/albums/e388/Swinefeld/New%20Constructon/1601_3.jpg

[Parkway]

Thanks swinefeld I like the new renderings and am looking forward to this project. Rumor has it that this will break gound on monday? Can anyone confirm this?

[WQ5668]

I figured this one was underway, with Grosso's Valley Square Project wrapping up in Warrington, he did a beautiful job on that project, and love the latest renderings of this one as well.

[tua21506]

woot!!!!! another stupid surface parking lot bites the dust!!!!!

[SJPhillyBoy]

I really like the design in the new renderings. I think this is an important project as it keeps the momentum of Center City's expansion going and continues the momentum of Philadelphia's skyscraper construction.

[phillyskyline]

This tower will have an immediate impact on the skyline since it will be the only skyscraper in it's vicinity. I hope this one gets off the ground.

[Plokoon11]

Looks tall, big and nice, I am sure it will make a great addition to the growing skyline.

Is it taller than commerce square?

[Born Pure Philly]

Looks tall, big and nice, I am sure it will make a great addition to the growing skyline.

Is it taller than commerce square?

Not quite, Commerce Square is 565 ft beating out 1601 by only 35 feet. If built it will be the 10th tallest narrowly beating out the Ritz. Hope this one gets off the ground, it would be a great addition to the growing skyline. :tup:

[StatenIslander237]

What's that logo at the top of the building?

[VA_Gentleman]

Great news for Philly. I hope you guys keep them coming.

[Lincolndrive]

I got this from googlemaps/streetview. Is this the site?

http://i81.photobucket.com/albums/j214/Lincolndrive/1601vine.jpg

[Ltrain]

If they build that Best Buy before anything else, I should put in a JOS to try and get a spot there. Could work right next door to watching this thing rise.

[ingersolld]

What's that logo at the top of the building?

InterContinental Hotel

[LittleMike]

I hope they put a best buy in...its like my favorite store.

[BigDan35]

I thought this was supposed to be around 670 feet or so? Maybe I'm thinking of something else like 1441 Chestnut? Oh well, either way. Looks like a nice building. And always nice to get rid of a parking lot. 530 feet isn't too bad I guess. Always wish things could be taller though. :D

[theWatusi]

^ 530 feet will be very noticeable in that location.

[Parkway]

Yah the 670 figure goes with the second incarnation of 1441 chestnut.

[CondoGuru]

I wonder if the condos will be marketed and sold as Intercontinental Residences, serviced by the hotel, similar to the Intercontinental in Boston. This looks like a great project.

[BigDan35]

^^ CondoGuru, do you have any knowledge of this project?

[Plompy Lfeata]

i like this tower alot, the design is bold and sleek.
id really like if they added 6more meters so it could take out william penn, and we could get some more towers up there, but i will take what they build.

however, in its location north of comcast, it should be very visible from the east/west and north views.

[buildup]

Since it is on the east side of the Parkway it will be very noticceable from the Art Museum. That view toward City Hall has become very lopsided with the addition of Comcast Center.

[Swinefeld]

Fun with Google :)

I placed a model of 1601 Vine (approximation based on recent renderings) in Google Earth to see the impact it would have on the skyline from various angles. 1601 Vine is the blue building.

Aerial view looking to the south and west.
http://i43.photobucket.com/albums/e388/Swinefeld/New%20Constructon/1601_01.jpg

Same view but lower angle.
http://i43.photobucket.com/albums/e388/Swinefeld/New%20Constructon/1601_02.jpg

Looking to the south and west.
http://i43.photobucket.com/albums/e388/Swinefeld/New%20Constructon/1601_03.jpg

Looking to the north and east.
http://i43.photobucket.com/albums/e388/Swinefeld/New%20Constructon/1601_04.jpg

Looking to the south and west.
http://i43.photobucket.com/albums/e388/Swinefeld/New%20Constructon/1601_06.jpg

North and west.
http://i43.photobucket.com/albums/e388/Swinefeld/New%20Constructon/1601_08.jpg

Looking north and east.
http://i43.photobucket.com/albums/e388/Swinefeld/New%20Constructon/1601_09.jpg

Looking due east.
http://i43.photobucket.com/albums/e388/Swinefeld/New%20Constructon/1601_11.jpg

Lastly, a view from the steps of the Art Museum.
http://i43.photobucket.com/albums/e388/Swinefeld/New%20Constructon/1601_10.jpg

[tower]

^sh'yeah

i'm diggin the updated design. whole foods is practically the greatest supermarket around albeit a bit expensive

[CondoGuru]

^^ CondoGuru, do you have any knowledge of this project?

I only have limited information on this project. A friend of mine who worked on the St. James is on the development team for this project. Judging from past Metro projects, they tend to use in-house sales and marketing teams, but with the Intercontinental component, that might demand a more seasoned, experienced group with knowlegde of the brand.

[BigDan35]

^^ And do you have any idea of what the probability is of this project being built?

[jrdizzy]

Love the view from the art museum. I always hoped to see something more substantial to the left of city hall. It will look better if Parkway 22 gets built.

[bryson662001]

beautiful job swine......I wish I could run that program but my current desktop just can't handle it. Are you just approximating the height of the building or are you able to plug in the actual dimensions?

[bucks native]

Awesome job, Swineman. I especially like how you squashed the cars in that lot.

Now, for your next assignment - should you choose to accept it - can you do THAT with Cira South? Please?

[Swinefeld]

Are you just approximating the height of the building or are you able to plug in the actual dimensions?
Actual dimensions. 1601 is represented as 530'.

Now, for your next assignment - should you choose to accept it - can you do THAT with Cira South? Please?
I'd love to when I get the time.

[sciguy0504]

Good job, Swiney. I like the updated design, too. Much more modern and appears to be higher quality.

[CondoGuru]

The latest I've heard is that its moving forward. I will not speculate as to what that means or if it's true until we see concrete rising out of the ground. But it was confirmed that Intercontinental has committed and that the condos will be Intercontinental Residences. The sales and marketing will also be handled by Intercontinental, NOT Metro. This is a huge sign of how serious they are because that group is very well-seasoned and not cheap to work with. If Grasso is using them, they are serious about the success of the project, and not cutting corners by using a local broker not equipped to marketing and selling something this huge. I didn't get any pricing information as I've been told that they're still working on the unit mix for the residences. But the hotel committment definitely accounts for at least two-thirds of the total square footage and is enough to get this off the ground.

[apetrella802]

I recently email the sales office and asked for the marketing package that would be given to perspective tenants. I indicated that i give architectural tours and lectures as a voluinteer for The Philadelphia Society for the Preservation of Landmarks and would use the info to add this building to our Skyscraper tour. It came in the mail today. Some months ago i did the same thing and nothing happened. I would take this as a positive aign that things are happening.

[SJPhillyBoy]

Good to hear that people are hearing that it is moving forward and that there are positive signs that this project is going to happen. I had a feeling all along it would happen based on the hotel and Best Buy/supermarket retail component of it.

Fantastic job to Swinefeld simulating it in our skyline!

I believe the largest impact will be when you are coming west up Vine Street toward the museum area. A 500+ footer will look impressive from that vantage.

http://i43.photobucket.com/albums/e388/Swinefeld/New%20Constructon/1601_02.jpg

[begoonie]

Looks familiar

http://www.ichotelsgroup.com/h/d/ic/1/en/c/2/content/dec/teaser/ic/1/en/lp/soon/icnashville.html

http://images3.ichotelsgroup.com/cq/content/dec/teaser/ic/1/en/lp/soon/icnashville.ContentPar.0008.Image.jpeg

[giamomj]

You've outdone yourself - the renderings are fantastic.

Gia

:notacrook:

[MJPhilly]

Great job Swinefeld.

How did you come up with the orientation in the lot? Just a guess? The way you have it, the Best Buy entrance would be on the NE corner, which I don't think is likely. I don't know why, but for some reason I pictured it rotated by 90 degrees clockwise. The tallest tip of the tower would be on the SW corner, and the Best Buy entrance would be at the SE corner.

Not to split hairs, but I made a rendering and I want it to be correct.

What does everyone think?

[Plompy Lfeata]

judging by the size of the lot, id say that if it takes up the whole lot, the whole foods/best buy enerance would be at the SE corner. of course i dont know for sure, but that seems to make sense to me.

[cjPhilly]

This is what it would like with Phase Two complete:

http://www.edzuck.com/files/project_images/1601vine2.jpg http://www.edzuck.com/files/project_images/1601vine1.jpg

I, too, think the Whole Foods entrance is on the SE corner and the phase one tower would run along Franklin Towne Blvd.

From: http://www.edzuck.com/default.aspx?page=5&type=50&project=395&set=1&focus=0&link=1

[Swinefeld]

Great job Swinefeld.

How did you come up with the orientation in the lot? Just a guess? The way you have it, the Best Buy entrance would be on the NE corner, which I don't think is likely. I don't know why, but for some reason I pictured it rotated by 90 degrees clockwise. The tallest tip of the tower would be on the SW corner, and the Best Buy entrance would be at the SE corner.

Not to split hairs, but I made a rendering and I want it to be correct.

What does everyone think?
MJ, don't take my placement/positioning too literally. I don't know exactly how the buildings are going to sit on that lot. What I wanted to do is show what a 530' building would look like at that location from various angles. Even the design is an approximation. When I get a better grip on the details I will update the renderings.

[sciguy0504]

The latest I've heard is that its moving forward. I will not speculate as to what that means or if it's true until we see concrete rising out of the ground. But it was confirmed that Intercontinental has committed and that the condos will be Intercontinental Residences. The sales and marketing will also be handled by Intercontinental, NOT Metro. This is a huge sign of how serious they are because that group is very well-seasoned and not cheap to work with. If Grasso is using them, they are serious about the success of the project, and not cutting corners by using a local broker not equipped to marketing and selling something this huge. I didn't get any pricing information as I've been told that they're still working on the unit mix for the residences. But the hotel committment definitely accounts for at least two-thirds of the total square footage and is enough to get this off the ground.

Wow...very exciting, indeed. Thanks for the info.

[Lecom]

Good. That area has great potential and already has some great public spaces, yet is quite dull to work around, mostly due to the abundant empty spaces and parking lots, such as the one this building is about to replace. It will also extend the skyline to the north quite nicely.

[Philly-Drew]

This building looks great in that location. How likely do you think this is?

[BigDan35]

Any recent news on this project?

[Pennsgrant]

Dont hold your breath bigdan.

[BigDan35]

Seemed like just a month ago this project had some motion and things looked good, and since then it's been dead.

[Ninjawho]

Dont hold your breath bigdan.

why would you say that....

this was one of the projects I think most people around here thought WOULD get built...especially with the planned tenets..

[bucks native]

Apartments, hotel rooms and retail tenants ready to take their spaces; it's a mystery why this project is not underway.

[manus]

Has 1601 Vine received its zoning and other city approvals?

Or perhaps they were waiting for the reign of Auspitz to end?

:cheers:

[Pennsgrant]

why would you say that....

this was one of the projects I think most people around here thought WOULD get built...especially with the planned tenets..


Just a hunch and because its already 1 1/2 years behind schedule and the developer made a claim 2 or 3 years ago that he would bring 2 different House of Blues to Center City. Stilll waiting :rolleyes:

[Ninjawho]

Just a hunch and because its already 1 1/2 years behind schedule and the developer made a claim 2 or 3 years ago that he would bring 2 different House of Blues to Center City. Stilll waiting :rolleyes:

touche...

haha

[manus]

The Inquirer this morning says the project's hotel component is an "unnamed" brand. Did Intercontinental fall through?

[McBane]

Posted in the Development Thread last week (I guess nobody read it):

I finally got to read last month's Philadelphia mag (w/ Andy Reid) and one feature focused on the area's most influential people to "look out for". Among them was David Grasso. The blurb said 1601 Vine would "break ground soon" but that could very well be Grasso's hope/spin on it. More interestingly however it mentioned as retail tenants Whole Foods (of course) and Best Buy. While there was much speculation, was Best Buy ever actually named? In deals such as these, the names of tenants are never disclosed until it's official, right? Then if that's the case, we might be getting an InterContinental hotel afterall. According to the blurb, that will be the hotel. Again, would Grasso disclose the hotel operator if it wasn't official?

[Pennsgrant]

Hate to keep beating a dead horse but this company has no track record to pull off a $350 M dollar project. As mentioned earlier he announced he would be bringing not 1 but 2 different House of Blues to the city. That was over 2 years ago. Nothing yet.

If a major project announced isnt by companies with pedigree e.g.,Brandywine,Liberty,Dranoff,Thomas Properties,Spencer,take it with a grain of salt. The zoning board ledger is full of dreamers.I hope Grasso proves me a fool but I have the right to be skeptical on this one.

[tua21506]

http://i249.photobucket.com/albums/gg215/tua21506/P1000716.jpg
I shot this today

[Capsule F]

BOOM BIP

http://i170.photobucket.com/albums/u254/Capsulef/0207081511a.jpg

http://i170.photobucket.com/albums/u254/Capsulef/0207081512a.jpg

[tua21506]

How long do you guys think before the site prep gets under full swing and this becomes a hole instead of a parking lot?

It also appears from the photo that Keating has the contract for demo...does this mean they have the building contract as well?

[apetrella802]

if you go to http://www.bbg-bbgm.com/ and select:

project, architecture, mixed use, 1601 vine st and then,

project information, you will see a status of "under construction", this was not there last week

[gbayard]

Ok, the best thing about this project is Whole Foods. I have walked out many times because the line was so long (I have also waited 20+ minutes before). The current store is WAAAYYY too small and has a limited selection. This will also make Whole Foods a more reasonable walking distance to Comcast Center, Logan Square 1+2, Glaxo and a number of other well-populated office buildings during the lunch hour.

[McBane]

My e-mail message
Is there an InterContinental Hotel opening in Philadelphia?

Reply
There is an InterContinental coming to the Philadelphia area. Please check our website at www.ichotelsgroup.com for updates on when the hotel will be accepting reservations. Thank you!

Karla Smith
Global Marketing/Development Team

-----Original Message-----
From: +GLOBAL Development
Sent: Friday, February 08, 2008 12:19 PM
To: +AMER Americas Development
Subject: IHG Development Lead


-----------------------------------------------

As of yet nothing on the site about Philadelphia but they did open an IC Hotel in Kazahkstan! "NICE!"

[tua21506]

the parking lot as of today..no activity yet...http://i249.photobucket.com/albums/gg215/tua21506/P1000844.jpg

[theWatusi]

looks as good as the W Hotel parking lot ;)

[bucks native]

From here: http://www.philly.com/inquirer/business/20080406_Comcast_Center_backers_have__06_rate.html


French capital: Philadelphia developer David Grasso says Société Générale, the giant French bank, has agreed to serve as lead lender for Grasso Holdings' proposed 1.2-million-square-foot, 46-story, multiuse tower at 16th and Vine Streets.

Next step: to bring other lenders into the $260 million first mortgage loan. "Within the next two weeks roughly, they're going to begin the syndication process," Grasso said Friday. After that, "we anticipate closing the loan in 45 days."

[highdensity32]

From here: http://www.philly.com/inquirer/business/20080406_Comcast_Center_backers_have__06_rate.html


French capital: Philadelphia developer David Grasso says Société Générale, the giant French bank, has agreed to serve as lead lender for Grasso Holdings' proposed 1.2-million-square-foot, 46-story, multiuse tower at 16th and Vine Streets.

Next step: to bring other lenders into the $260 million first mortgage loan. "Within the next two weeks roughly, they're going to begin the syndication process," Grasso said Friday. After that, "we anticipate closing the loan in 45 days."

This is good news for 1601 Vine, but a developer's timeline is always more optimistic than a banker's timeline. The syndication process can take a number of months. Each prospective participating bank has to go through its own underwriting and approval process and have the legal department review the documentation. Plus, not every bank that looks at the deal will want to be part of it. After all the lenders issue commitments they could close in 45 days.

[Pennsgrant]

Someone let me know when the backhoe shows up.:rolleyes:

[Chazly7]

I was in this area today and it is in desperate need of something like this. Two parking lots... yikes. Anyway, which lot is this project proposed for? Anything proposed for the other lot? I hope this gets built... That area was dead-ish... granted it is sunday.

[bucks native]

Full text here, this morning: http://www.philly.com/inquirer/business/homepage/20080414_Crown_jewel_for_Franklintown.html

http://media.philly.com/images/20080414_inq_hotel14z-b.JPG

Oooooh bidets! We're in need of those. Thank you, France, for the bidets and the financing.

Crown jewel for Franklintown
An Intercontinental Hotel will rise amid a giant Whole Foods, Best Buy, other shops in a plan begun in the 1970s.
By Tom Belden

Inquirer Staff Writer
Monday April 14, 2008

More than three decades after it was first envisioned, the Franklintown development straddling Vine Street is getting a centerpiece: an Intercontinental Hotel sharing space with national retailers, apartments and condominiums.

The site, on the north side of Vine between 16th and 17th Streets, will include a Whole Foods supermarket and a Best Buy consumer-electronics store, in addition to the 268-room hotel, said David Grasso, chief executive officer of Grasso Holdings, the project's developer, in an interview last week.

The $320 million project, to be named The Vine, is scheduled for completion in the second half of 2010, Grasso said.

The 40-story luxury hotel, with apartments and a handful of condos on its upper floors, will be the region's first for the Intercontinental chain, a division of Atlanta-based Intercontinental Hotel Group that is better-known abroad than in this country.

The site now is a surface parking lot and is one of the last gaps in the master plan for Franklintown, an area from Vine to Spring Garden Street zoned in the 1970s for a mix of hotels, office towers, residences and retail stores.

Grasso said the hotel-apartment tower, with a curving glass façade, to be located at the Franklintown Boulevard and Vine corner, will create "a glowing box at night." And while the high-rise may be the most visible part of The Vine, the retail stores are "the most valuable part of the whole deal," he said.

When combined with the hotel and residences, the supermarket and other stores give the project "critical mass, making it a destination," he said. "They all help each other. . . . When you put all these components together, they enhance the desirability of the residential portion, the retail and the hotel because it increases the activity around it."

The hotel will have 18,000 square feet of meeting space to appeal to business groups, an upscale restaurant that may stay open 24 hours a day, and a full-service spa, Grasso said. The hotel also will be the only one in the city "with four fixtures in every bathroom," including European-style bidets, he said.

Financing for the project is in place, Grasso said, and will come from his company; Grosvenor Investment Management, a pension-fund adviser; and Societe Generale, the French bank.

Plans for the 60,000-square-foot Whole Foods supermarket, which will replace the chain's 16,000-square-foot store at 20th and Callowhill Streets, were announced 18 months ago. The new store will be what the natural-and-organic-food retailer, based in Austin, Texas, calls its "next generation," with a far greater selection of products and several dining areas, company officials said.

Hotel consultants and tourism officials say the Intercontinental will help the city accommodate larger gatherings at an expanded Convention Center and will draw more visitors from overseas.

"It's going to bring that whole area alive," said Jack Ferguson, executive vice president of the Philadelphia Convention & Visitors Bureau. "The Intercontinental flag gives us another leap into having more international business coming in, because the brand is known worldwide."

Peter R. Tyson, vice president of PKF Consulting, in Philadelphia, said the hotel would be close enough to Market Street's office buildings to appeal to business travelers. He said he didn't expect the Intercontinental to dampen other developers' plans to build a half dozen or so hotels in Center City to take advantage of the larger Convention Center.

"This was always on everybody"s slate," Tyson said. "It was just a matter of when."

--------------------------------------------------------------------------------
Contact staff writer Tom Belden at 215-854-2454 or tbelden@phillynews.com.

[theWatusi]

ok, what's the next step...

[We Got Five]

I wonder if Grasso was trying to play with the media two weeks ago? I'm curious to see the angle of this porject...do we know which way this faces?

Either way, Intercontinental - big name internationally.

[kraggman]

Nice. :)

[philliesphinest]

Great news! I really like the design of this building.:tup:

[Philly-Drew]

I wish we could get our hands on some additional renderings of this project. It is hard to make out two buildings from the rendering that has been officially released.

[skellergroup]

That pr release was simply marketing.....is there any real news on this that it might get built?

[theWatusi]

PB forumers are reporting utility work (relocation?) being done on site

[NDPhilly]

I wish we could get our hands on some additional renderings of this project. It is hard to make out two buildings from the rendering that has been officially released. Yea mab one of all of center city

[bucks native]

That pr release was simply marketing.....is there any real news on this that it might get built?

The "release" specifically mentioned a funding source as well as a hotel. Each of those, if not committed to this project, could sue if used in a marketing "ploy."

[skellergroup]

The "release" specifically mentioned a funding source as well as a hotel. Each of those, if not committed to this project, could sue if used in a marketing "ploy."

Ahhh....I thought that information was already publicly shared. If not, then that is surely newsworthy. If so....marketing.

[NDPhilly]

Is the sight still a parking lot

[theWatusi]

from today. nothing going on:

http://lh3.ggpht.com/RobGerhart/SAfUIJ-74-I/AAAAAAAAAZ8/6GO5Pk2JF1Q/s800/IMG_0419.jpg

[slow-v6]

This will be another Gem for the city!!!

[skyscraper]

from today. nothing going on:

and generalissimo francisco franco is still dead.

[Xeelee]

not too bad. it looks like the Anadarko tower here in houston.

[NDPhilly]

Does the 250 room hotel have a name. Also my commputer wont let me paste images on to the message. anyone now why

[winxs]

Does the 250 room hotel have a name. Also my commputer wont let me paste images on to the message. anyone now why

Intercontinental. And you can't....


Actually, you need to upload your images to a photo hosting service, like photobucket or flickr, and then you insert the pic's URL into your reply. Good luck.:rolleyes:

PS: use your spellchecker when you post. And question marks are a nice touch..... :D

Also, to keep the other forumers from posting snotty messages at you, read up about the project on the first page of the thread. That will answer many of the questions that you have been asking. Also, read each day's posts before you post yourself. It seems like you are asking questions that were asked and answered on the previous page of posts. That pisses off some of us older guys; we tend to lose our patience with kids easily. .....just some friendly advice.

[bucks native]

Intercontinental. And you can't....


Actually, you need to upload your images to a photo hosting service, like photobucket or flickr, and then you insert the pic's URL into your reply. Good luck.:rolleyes:

PS: use your spellchecker when you post. And question marks are a nice touch..... :D

Also, to keep the other forumers from posting snotty messages at you, read up about the project on the first page of the thread. That will answer many of the questions that you have been asking. Also, read each day's posts before you post yourself. It seems like you are asking questions that were asked and answered on the previous page of posts. That pisses off some of us older guys; we tend to not lose our patience with kids easily. .....just some friendly advice.

You're very kind, WINXS. That was nice of you. Constructive.

[Lincolndrive]

Does the 250 room hotel have a name. Also my commputer wont let me paste images on to the message. anyone now why


You have to open up a photobucket account to copy and paste pictures here. Its free and easy but its not possible to just save pictures directly to the site. Probably something to do with computer virus's I'm guessing.

[hammersklavier]

Ah-hah! The truth comes out!
According to the Illadelph: Joe Grasso, the elder of the two brudders, is also the man behind the ambitious American Commerce Center.

And David Grasso is the dude behind “The Vine” aka 1601 Vine Street in Franklintown, which is trying to get off the ground this summer, with an Intercontinental Hotel, a massive new Whole Foods, a Best Buy and a REI.
The ACC has funding and only needs (er-hem) the Zoning Board and Darrell Clarke's approval before steel can start rising; 1601 Vine (I think) has the zoning, but needs the funding.

[apetrella802]

ACC needs to demonstrate that it can secure a lead tenet

[hammersklavier]

ACC needs to demonstrate that it can secure a lead tenet
I heard something about Blackstone looking into the ACC as a corporate HQ...?

No matter. That belongs on a different thread anyway. I was just pointing out that it's a pair of bros. trying to outdo one another.

[Pennsgrant]

I think the rumor is that Blackstone is interested in Cira South. TD Commerce is interested in ACC but who knows? Those rumors came from PBJ I believe.

[RayZ]

Commerce is moving some of its IT functions to Toronto and consumer/residential loan processing to Portland, Maine.

So it looks doubtful that it would require a substantial amount of square feet in ACC. Also, I wouldn’t expect them to move many jobs from Cherry Hill to center city.

On the other hand, stranger things have happened.

[Capsule F]

I thought they already had half of their crap in Maine. So what, they are moving more to Portland, Me?

[RayZ]

I thought they already had half of their crap in Maine. So what, they are moving more to Portland, Me?

"Commerce is moving some of its IT functions to Toronto and consumer/residential loan processing to Portland, Maine."

That processing which is now done in Cheery Hill is moving to Portland.

[Pennsgrant]

"Commerce is moving some of its IT functions to Toronto and consumer/residential loan processing to Portland, Maine."

That processing which is now done in Cheery Hill is moving to Portland.


Portland Me. can have the IT functions, but the TD Commerce HQ's should be in this region seeing how this area has a metro of 6 M in a megalopolis of 50 M. Meanwhile no offense but metro Portland has 350,000 people.

[Jes44]

I wanted to see if there was any dates associated with the notice which was attached to the chained fence. Has anyone heard when they will start to demolish the existing parking lot there and officially break ground?

[tua21506]

Last time i walked past one of the signs on the fence i think i read that they have to do demo by sometime in June or the permit expires i think.

[hammersklavier]

Last time i walked past one of the signs on the fence i think i read that they have to do demo by sometime in June or the permit expires i think.
I walked by there yesterday and the license posted by the lot entrance on Franklin Town Bvld. just says that it expires six months from the date of issuance (I think that's what it said, anyway)...If it expires in June, that must mean it was granted in January?

Unfortunately, it still is a parking lot with a helluva lot of pigeons roaming around.

It's actually a decent spot, btw. It's two blocks east of the Family Court (needs to be a museum) and the 17th Street Bridge is far safer than the 16th St. one. Improved pedestrian connections at 16th would be an important community concession.

Final thought: something ought to be done about that parking lot at 17th and Vine, too...along with the surface lots all around Hahnemann U. Hospital. They're so bad you could practically build a boulevard through them all the way from Broad north of Race to LOVE Park.

[theWatusi]

isn't there a hotel proposal floating around for Broad/Vine?

[Jes44]

I remember an earlier thread for this showing a picture of a document attached the chained fence to the parking lot stating that in June, construction would begin. I would assume that nothing has transpired since and the huge problem remains of financing this project. I think it would add greatly to that part of the city and considering the Convention Center is expanding, the city could use another nice facility. Anyone have any updates as to where this project stands?

[NDPhilly]

yea what is up the convetion center expanding it takes up valuable land that could be used to build syscrapers.

[christof]

Any word on when construction will staart on this project?