PHILADELPHIA | 1919 Market | 337 FT | 29 FLOORS

[Jawnadelphia]

[Londonee]

^^^Definitely test drilling.

Let's hope they are drilling to determine that the pad can support a 500+footer!

[summersm343]

Originally Posted by 1487

let's hope that is the case. Then again, they were test drilling at the W hotel site a month ago and then the parking lot reopened.

Test boring happens months before the construction of a tower - it doesn't signal construction. For instance - the test boring for FMC took place about 2-3 months before construction started.

[Philly Fan]

Originally Posted by summersm343

Test boring happens months before the construction of a tower - it doesn't signal construction. For instance - the test boring for FMC took place about 2-3 months before construction started.

Could be test boring to determine feasibility/cost of a taller/larger structure than previously planned (as Londonee implied). Agreed--let's hope!

On the other hand, having just returned from San Francisco, there's a lot more to the attraction of great cities than just the height of the buildings.

[1487]

Originally Posted by Londonee

^^^Definitely test drilling.

Let's hope they are drilling to determine that the pad can support a 500+footer!

at this point even the 28 story tower would be a welcome addition to this long vacant lot.

[Flyers2001]

Originally Posted by 1487

at this point even the 28 story tower would be a welcome addition to this long vacant lot.

Ahh I don't know if I could agree. This lot is one of the most important lot;s in the city. Its in the heart of the financial district and among the tallest buildings in the city. While height is not everything, the design is just so-so. This building has nothing going for it, except filling a very important empty lot.

I am on record saying, I don't mind them waiting if the design or height change. The lot is also very big. 500+ footer would be very visible in the skyline. A 367 foot box building doesn't do much of anything here.

[MSFHQ]

A backhoe was on site digging stuff up. If you look between the gate and the Blue Cross building you can see how far the foundation goes. It's basically like they dug a foundation, put up metal walling and then filled it back in.

It would be a real shame to go short or not have an office component for this spot. While I think it would be a nice apartment building, this really should have offices as it is in the main office part of the city. With the demand for class A office space you would think Brandywine would make the most of this huge, prime lot.

[McBane]

Originally Posted by Flyers2001

Ahh I don't know if I could agree. This lot is one of the most important lot;s in the city. Its in the heart of the financial district and among the tallest buildings in the city. While height is not everything, the design is just so-so. This building has nothing going for it, except filling a very important empty lot.

I am on record saying, I don't mind them waiting if the design or height change. The lot is also very big. 500+ footer would be very visible in the skyline. A 367 foot box building doesn't do much of anything here.

Agreed 100%. And judging by what others have said/implied, I think that's the general feeling around these parts. Sorry 1487!

I'll also say that b/c the lot is so massive - that if not a very tall building than at least give us two shorter ones. What I absolutely do not want to see is something akin to the Municipal Svs Building with a smallish tower placed on a large lot with all sorts of wasted/empty space around it. I can't imagine a 350 foot building taking up the entire footprint of that lot - if it does, it's going to look hideously stumpy; if it doesn't, it will look like wasted space. http://goo.gl/maps/m9EeC

[1487]

well I think everyone can agree a larger building would be nicer, but I just want them to do something soon. Its been long enough, recession is over and they have been sitting on this lot for a while now. Let's hope the announce their intentions soon. I dont think an 11% vacancy rate in the CBD is enough to prompt speculative office construction, but if they can arrange a tenant in advance anything is possible.

[Baconboy007]

Originally Posted by McBane

Agreed 100%. And judging by what others have said/implied, I think that's the general feeling around these parts. Sorry 1487!

I'll also say that b/c the lot is so massive - that if not a very tall building than at least give us two shorter ones. What I absolutely do not want to see is something akin to the Municipal Svs Building with a smallish tower placed on a large lot with all sorts of wasted/empty space around it. I can't imagine a 350 foot building taking up the entire footprint of that lot - if it does, it's going to look hideously stumpy; if it doesn't, it will look like wasted space. http://goo.gl/maps/m9EeC

The open space there is kinda nice but, as someone mentioned in another post, I think it's time to redo the domino/ sorry game piece theme and use the space better. I don't know what to do with it but then again nobodies paying me to come up with these ideas.

[Jawnadelphia]

Didn't that real estate report someone posted the other day say that there's 600,000 sq ft of office space in demand right now in Center City ...??

Seems more than speculative to me...

A big, mixed use - Cira 2-esque building (angles) over 500 ft tall ... at this spot would really be cool between Blue Cross and Commerce Sq.

[1487]

Originally Posted by TallCoolOne

Didn't that real estate report someone posted the other day say that there's 600,000 sq ft of office space in demand right now in Center City ...??

Seems more than speculative to me...

A big, mixed use - Cira 2-esque building (angles) over 500 ft tall ... at this spot would really be cool between Blue Cross and Commerce Sq.

that is not new demand, those are existing CC tenants that may resign with their current landlords or relocate within CC. When you already have 12% of space vacant it means the tenants in the market have plenty of options in existing buildings. If you remove comcast, you arent seeing enough new demand out there to launch new office buildings- especially when you consider that new office space costs more than existing office space. Did FMC get a tax break like Cira Center? I know Cira is in KOZ which exempts businesses from several taxes for years.

[BenKatzPhillytoParis]

Originally Posted by 1487

that is not new demand, those are existing CC tenants that may resign with their current landlords or relocate within CC. When you already have 12% of space vacant it means the tenants in the market have plenty of options in existing buildings. If you remove comcast, you arent seeing enough new demand out there to launch new office buildings- especially when you consider that new office space costs more than existing office space. Did FMC get a tax break like Cira Center? I know Cira is in KOZ which exempts businesses from several taxes for years.

Even though there may be a lot of space, it sounds like there is very little contiguous space, which is what is being looked for. With CITC and FMC virtually accounted for, new construction if they were to build Class A office taking at least 4 years from drawing board (now) and being on the market, modest but steady growth in demand in Philadelphia fueled by demographic shifts (younger educated people preferring downtown), being in a good position to out-compete existing Class A with new Class A due to more modern design, and only needing to build about 250,000 sq. ft. of actual office space to get a decent-sized mixed-use tower up—it seems to me it would be at worth considering building on spec. They probably need a few more definitive indicators to go forward with that, but hopefully it's something they're contemplating.

Although I agree with both points of view, in the end I'd rather see a taller office or mixed use construction even if it takes more time. This lot has been empty since I was 5 years old or younger (more than 20 years ago)—I can wait an extra 2 years if it means filling it with a much better project.

[1487]

They are still on the site but cant figure out what they are doing. A few trucks, a dump truck and backhoe were there and there is a mound of dirt near 20th street. Perhaps they are doing some sort of exploratory digging looking for buried utilities or something.

[Jawnadelphia]

Originally Posted by 1487

They are still on the site but cant figure out what they are doing. A few trucks, a dump truck and backhoe were there and there is a mound of dirt near 20th street. Perhaps they are doing some sort of exploratory digging looking for buried utilities or something.

Up against the white wall dividing the Blue Cross building courtyard and this lot ...they have dug down probably 15 feet..., a worker was banging away on something down there as of 15 mins ago.

[summersm343]

Went by today. A lot of digging going up. Thanks for the pics TallCoolOne

[Philly Fan]

Are those shoring jacks at the top of the trench on the far right of TallCoolOne's upper photo? If so, that combined with his description of the location (up against the white wall dividing the Blue Cross building courtyard and this lot) and the activity he heard (a worker banging away down there), makes me wonder if this is actually just some utility work, or something having to do with the wall, and not the beginning of foundation digging or construction. Of course, it might be in preparation for foundation digging and construction to come.

[McBane]

I'm not sure if this is construction. Think about it. Construction of large towers are always preceded by an official groundbreaking ceremony. Now at 28 floors and no office component, I'm not sure the Mayor would attend, but some public official would attend and of course the press would cover it.

But maybe that happens later? There's certainly a lot of working happening at the CITC site - was there an official groundbreaking ceremony?

[summersm343]

Whatever it is - shoring jacks or old foundations or whatever, I just walked by the site and they are removing them. The only reason I could see they would be doing this would be in preparation for digging foundations for construction.

[Plokoon11]

Citc didn't have a ground breaking.