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  #61  
Old Posted Jan 26, 2015, 3:41 PM
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Originally Posted by jjv007 View Post
How long would this project take from groundbreaking to completion if it were to go through?
All built at once? 3 years likely. However, I see this project being built in phases. I could see the two smaller 21 floor buildings being built first with the taller one being built in a later phase.
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  #62  
Old Posted Jan 26, 2015, 4:02 PM
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Ok thank you, summersm343.
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  #63  
Old Posted Jan 29, 2015, 2:24 PM
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fyi this project is being marketed for sale
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  #64  
Old Posted Jan 29, 2015, 4:01 PM
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fyi this project is being marketed for sale
As in, they're marketing the space in it? Or the land because they're not building it?
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  #65  
Old Posted Jan 29, 2015, 6:44 PM
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As in, they're marketing the space in it? Or the land because they're not building it?
The land is for sale.
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  #66  
Old Posted Jan 29, 2015, 6:52 PM
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The land is for sale.
Boo
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  #67  
Old Posted Jan 29, 2015, 7:09 PM
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The land is for sale.
So they're just flippers. We should have suspected as much. A no-name firm like that could never have pulled off the financing for such a monster project.

Maybe the new improved PMC will buy the site.
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  #68  
Old Posted Jan 29, 2015, 11:45 PM
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We all knew this would happen. The best bet is they sell the land with approvals to an actual developer who can pull it off. The same thing just happened with the 1213 Walnut lot. The bologna developer U3 got approvals and flipped the lot to Goldenberg who is actually moving forward with the project now.

This could be the best thing for this project to happen.
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  #69  
Old Posted Jan 30, 2015, 12:17 AM
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@summersm, thanks!
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  #70  
Old Posted Jan 30, 2015, 3:27 PM
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Originally Posted by summersm343 View Post
The bologna developer U3 got approvals and flipped the lot to Goldenberg who is actually moving forward with the project now.

This could be the best thing for this project to happen.
Because Goldenberg's track record for developing urban skycrapers is so well documented? From the guy that brought you this:

and this...

and this...

And this...


All images from The Goldenberg Groups homepage

I feel safe with 1213 in his hands!

Seriously though, I think most of us from the start noted how ridiculous this project sounded coming from this Podunk company. My concern is that major real estate players won't be interested b/c of this company's pathetic profile and are smelling a get-rich-quick flip. This is the 2nd time in 10 years that 2 ridiculous companies proposed an absurdly out-of-their-reach project on this parcel which begs the question: do hacks beget hacks?
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  #71  
Old Posted Jan 30, 2015, 4:10 PM
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On 1213 walnut, i believe hines is the developer.. goldenberg is the local partner. Hines is a huge company, more than capable.
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  #72  
Old Posted Jan 31, 2015, 4:21 AM
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Sometimes articulation of an achievable vision is necessary for a flip. And there are a couple of companies (PMC, Pearl, whoever's developing 38Chestnut) that might actually be able to move on this.
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  #73  
Old Posted Jan 31, 2015, 2:46 PM
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Riverwalk Project

I know that this project is temporarily dead. I know that Toll Brothers has been developing properties- high rises in cities like NYC- Manhattan to be exact. This would be ideal for Toll Brothers to scoop up- as someone said, it has approvals, etc. To me, it is a slam dunk and there continues to be demand for new properties in the city.
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  #74  
Old Posted Jan 31, 2015, 2:49 PM
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I know that this project is temporarily dead. I know that Toll Brothers has been developing properties- high rises in cities like NYC- Manhattan to be exact. This would be ideal for Toll Brothers to scoop up- as someone said, it has approvals, etc. To me, it is a slam dunk and there continues to be demand for new properties in the city.
Toll Bros has tried to make a highrise splash in Philly. They tried with the Catleway land, but failed to come to a deal. I believe they are also working on something towards Society Hill Area?
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  #75  
Old Posted Jan 31, 2015, 10:36 PM
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Toll Bros has tried to make a highrise splash in Philly. They tried with the Catleway land, but failed to come to a deal. I believe they are also working on something towards Society Hill Area?
Yes, Toll Brothers is well into their projects at 23rd & South and in Society Hill.

If they did buy this site, approvals and all, that would be uh-maz-ing.
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  #76  
Old Posted Jan 31, 2015, 11:19 PM
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Yes, Toll Brothers is well into their projects at 23rd & South and in Society Hill.

If they did buy this site, approvals and all, that would be uh-maz-ing.
Not to mention their projects--including highrises--in NYC:

http://www.tollbrotherscityliving.co...nces/new-york/

It would be great if they could do more of this type of stuff in their home city.

Last edited by Philly Fan; Jan 31, 2015 at 11:32 PM.
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  #77  
Old Posted Feb 3, 2015, 3:33 AM
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Not to mention their projects--including highrises--in NYC:

http://www.tollbrotherscityliving.co...nces/new-york/

It would be great if they could do more of this type of stuff in their home city.
Agreed! And there are plenty of sites for them to do more mid- and highrises here too...
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  #78  
Old Posted Feb 3, 2015, 3:46 AM
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Agreed! And there are plenty of sites for them to do more mid- and highrises here too...
Then, I wondering why the heck did they pass on 1911 Walnut?
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  #79  
Old Posted Feb 3, 2015, 12:53 PM
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Then, I wondering why the heck did they pass on 1911 Walnut?
It's expensive
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  #80  
Old Posted Feb 3, 2015, 2:20 PM
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It's expensive
Really expensive. It's also possible Castleway previously wanted even more than the $30-40m price they got and have actually come down to that price.
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