Posted Feb 1, 2019, 5:22 PM
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Registered User
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Join Date: Dec 2015
Location: South Philly
Posts: 1,680
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From Brandywine's earnings call yesterday:
Quote:
Our development lease activities at Schuylkill Yards, Garza, Four Points in Radnor are all progressing well. We're completing the design development process on each project and giving pre-leasing achievement could be in a position to start one or two of those projects by year-end 2019.
Just given the size, a quick update on Schuylkill Yards. We did update the disclosure in the SIP on page 15. Design and pricing work continues at an excellent pace. We have seen a real upsurge in activity through our marketing campaign and our pipeline (ph) today currently stands at over 1.5 million square feet, including several 100,000 square feet of life science uses.
Equity sourcing discussions on Schuylkill Yards also remain extremely encouraging. To refresh everyone's memory, Schuylkill Yards is in a federal qualified opportunity zone, which has generated significant interests from a variety of capital sources, looking for both excellent real estate investments with federal capital gain deferral advantages.
The goal for Schuylkill Yards is to have the projects in a position to start over the next four quarters, of course, assuming favorable market and financing conditions. On Broadmoor, we're designing a 350,000 square foot office and retail site, as well as a residential site that can do 300 plus units. We plan to, again, subject to real estate and capital market conditions be in a position to start either one of those or both over the next four or five quarters.
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Well, I think we've a good foot in the door from both standpoints. From, number one, the perspective, we've got some great relationship with some educational and healthcare institutions, which provide a clear pathway into helping them grow their businesses. And then with Schuylkill Yards, for example, we have bought on a life science, a co-developer advisor with Longfellow Partners who has tremendous technical knowledge of the life science field.
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https://www.fool.com/earnings/call-t...ngs-confe.aspx
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