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Originally Posted by iheartphilly
No kidding. Your reasoning applies to all big cities about office footprint and ones that even have growth in new office space (i.e., new office tower) despite a smaller existing office footprint taken by companies already there or co-working new space. My point is that the catalyst needs to be strong and continued employment growth (preferably a large new company or division) and growth in population (maybe people want to retire in Philly or a high-tech HB1 work visa) to further continue our building boom.
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it really appears the boom is shifting to 3-5 story midrise residential projects. There is a LOT of that going on even though they aren't a lot of big towers under construction. No shortage of hi rise proposals, but an increasing # aren't making it from proposal to groundbreaking for some reason.