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PHILADELPHIA | Chubb @ 2000 Arch | 257 FT | 20 FLOORS

Out of nowhere with a mystery tenant... :sly:
Title: Chubb @ 2000 Arch
Project: Office
Architect: L2P
Developer: Parkway
Location: 2000 Block of Arch
District: Center City
Neighborhood: Logan Square
Floors: 18 floors
Height: 257 feet

These new projects just keep coming and coming this year...
https://www.philly.com/resizer/kk1dN...HRXTRJYS2E.jpg

Neighborhood approval could clear way for Philly’s first new Center City headquarters building since Comcast

Quote:

A Center City community group has signaled its consent for a 15-story office tower at 20th and Arch Streets, opening a path for what would be the first new corporate headquarters building to rise in Philadelphia’s core since work on the Comcast Center began 14 years ago.
The Logan Square Neighborhood Association voted Tuesday not to stand in the way of Parkway Corp.'s plan for about 400,000 square feet of offices and ground-floor retail at a former Avis rental car lot, which the Philadelphia-based developer has owned since 2014.
Council President Darrell Clarke, whose district includes the development site, has indicated to Parkway that he would introduce that legislation if the community group backs the proposal, Parkway president Robert Zuritsky said in an interview before Tuesday’s meeting. A Clarke spokesperson did not immediately respond to an email sent early Wednesday to ask about his position on the project.
New office projects have been rare in Center City, where market rents are typically considered too low to justify the cost of new construction. Parkway is seeking $5 million in state redevelopment funds to help jumpstart another office tower proposal at a property nearby on Market Street.
Zuritsky said during the community meeting that the prospective tenant for the Arch Street parcel also is considering sites outside the state, as well as a Philadelphia site that has been designated a Keystone Opportunity Zone (KOZ), which can qualify companies with offices there for city and state tax breaks. One such site with that designation is the West Philadelphia tract where the Schuylkill Yards development is underway.
Zuritsky conceded that it may be costlier for Parkway’s prospective tenant to locate on Arch Street than it would be for it to lease space in a KOZ, where it might be able afford higher rents because its tax payments would be lower. But he said the prospective tenant wants to be in Philadelphia’s central business district, which is enjoying a growing cachet among other businesses and potential recruitment candidates.

https://www.philly.com/real-estate/c...-20190515.html

If an admin could tag this as Philly it'd be much appreciated.

Quote:

Originally Posted by mcgrath618 (Post 8573815)

Out of nowhere with a mystery tenant... :sly:
Title: 20th and Arch
Project: Office
Architect: UNKNOWN
Developer: Parkway(?)
Location: 2000 Block of Arch
Neighborhood: Logan Square
Floors: 15 floors
Height: 223 feet

These new projects just keep coming and coming this year...
https://www.philly.com/resizer/kk1dN...HRXTRJYS2E.jpg

Neighborhood approval could clear way for Philly’s first new Center City headquarters building since Comcast

https://www.philly.com/real-estate/c...-20190515.html

If an admin could tag this as Philly it'd be much appreciated.

I was initially disappointed at the floor count in such a prime location, but this building is beautiful and should fit into the surrounding neighborhood nicely. Also, this is going to be a corporate HQ with a sole tenant! That's not something that happens often in Center City!!

I can't wait for this to begin! :cheers:

This is positive. Build it! You are not going to get a 500 footer here. Street level design is interesting enough. Good infill project for sure.

It may well be "boxy" yet is thankfully not a box. The strong street level horizontal lines, when encapsulated by the reddish-brown framing, nicely suggest the white banding elements of the older building in foreground.

Quote:

Originally Posted by Hrytsyu (Post 8574832)

Yea, THIS is how you do glass architecture.

Anyone realize how different this area is going to feel with a tower here? Right now it's like a deadzone in between Logan Square and Market.

What company is supposed to move in there? I've reached my limit on Philly.com views, does the article say?

Quote:

Originally Posted by Baconboy007 (Post 8579544)

What company is supposed to move in there? I've reached my limit on Philly.com views, does the article say?

If you use Safari, cut and paste the link into a “private” browser window. Works every time. Not sure of the equivalent with other browsers.

Quote:

Originally Posted by Baconboy007 (Post 8579544)

What company is supposed to move in there? I've reached my limit on Philly.com views, does the article say?

Speculation in both the article and the comments is Chubb.

Quote:

Originally Posted by PhilliesPhan (Post 8574134)

No, this is not a beautiful building. Still happy to see development here and a potential new construction corporate headquarters.

Quote:

Originally Posted by jsbrook (Post 8579571)

No, this is not a beautiful building. Still happy to see development here and a potential new construction corporate headquarters.

What do you mean by that? It certainly isn’t ugly.

I think American Airlines turning PHL into its main European gateway certainly helped land Chubb here. There's not a ton of non-stop destinations from Zurich (Chubbs global HQ) so having that non-stop route put Philly on a shortlist of potential locations.

Hopefully we see this trend continue with additional US HQs of European companies.

Quote:

Originally Posted by Londonee (Post 8579612)

Not that it matters but Ace bought Chubb who bought the property and causality business based in Philadelphia from CIGNA. The NA in the CIGNA name comes from the original company based here, the Insurance Company of North America. INA held the distinction of being America’s first insurance company. Chubb’s offices are currently located at 4th and walnut and my friend who works there said they want more modern offices because their current digs are very 80s. So this isn’t a new move (I actually doubt any company is older) but it’s good to see their desire to stay here.
https://en.m.wikipedia.org/wiki/Insu..._North_America

Quote:

Originally Posted by TempleGuy1000 (Post 8579674)

Chubb's NA HQ is in Warren, NJ - are we sure this won't be that group relocating and consolidating here with whatever's left of ace? 400,000sf is a significant building.

Londonee, Ace bought CHUBB but kept the name CHUBB because it was more prestigious. Their headquarters is in Philly now not NJ. I believe they still have the office in NJ but it is being downsized significantly. (A friend of mine works there, Ace----> Chubb). So more than likely they are looking to downsize what is left of the NJ office and consolidate it with the philly offices. My understanding is the NJ office is much smaller than it once was.

Quote:

Originally Posted by mcgrath618 (Post 8579599)

What do you mean by that? It certainly isn’t ugly.

Sure, but there is a big range between "not ugly" and "beautiful." I'm happy to see the development, but I just wouldn't throw that word around cavalierly to architecture that hasn't earned it. I don't mean to be negative would be happy to see this building rise, so carry on...

Looks like a building you would see in Downtown DC.

^^^
Definitely not offensive by any measure. Some nice setbacks and variations to the traditional rectangular box. Build it. Overall net positive.

Interesting bit about this building in this PlanPhilly article
http://planphilly.com/articles/2019/...lly-be-working

Quote:

Last week, City Council approved a spot-zoning bill that enables Parkway Corp. to use the incentive in the development of a Center City office tower. Parkway’s 15-story tower at 20th and Arch streets will contribute $2.5 million to the Trust Fund in exchange for a floor-area-ratio bonus that will allow it to build additional square footage.

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