PHILADELPHIA | 1601 Vine Street | 530 FT / 162 M (I) | 138 FT / 42 M (II) | N/B - Page 7

Pennsgrant · #**121** Posted **Jan 28, 2009, 10:35 PM**

Quote:

Originally Posted by We Got Five

Well it's scary to think...here's a project thats backed, tenants lined up and ready to go and it can't get off the ground. If this equation doesn't go, nothing will.

Keep in mind the developer does not have much of a track record in these mega projects.This project has been kicked around for the better part of this decade even while the economy was booming . Just mu opinion but it seems like the tanking economy is merely the developers latest alibi.

We Got Five · #**122** Posted **Jan 28, 2009, 10:43 PM**

Yes, Grasso's portfolio does not contain a project of this size. However, everything is/has been lined up. Intercontinental doesn't throw it's name around without merit.

Pennsgrant · #**123** Posted **Jan 28, 2009, 11:25 PM**

Quote:

Originally Posted by We Got Five

Yes, Grasso's portfolio does not contain a project of this size. However, everything is/has been lined up. Intercontinental doesn't throw it's name around without merit.

And banks dont throw around $300 M loans to developers with no track record of mega developments regardless of Intercontinental,Whole Foods, Best Buy. Maybe if this was a $30 M suburban lifestyle center you have takeoff, Grasso is trying to peddle 200 -300 condos/apts with this thing , it hasnt flown in the past and its not going to fly in the future imo.Hope I am wrong.

We Got Five · #**124** Posted **Jan 29, 2009, 4:10 PM**

And unfortuantly, the same will be said regarding the ACC.

BigDan35 · #**125** Posted **Jan 29, 2009, 11:39 PM**

Quote:

Originally Posted by We Got Five

And unfortuantly, the same will be said regarding the ACC.

Okay, Nostradamus

Parkway · #**126** Posted **Jan 30, 2009, 12:39 AM**

I wonder how many times the phrase "It aready has secure funding" been said in response to some critique of the ACC? Just because I am about to say it again.

Ninjawho · #**127** Posted **Jan 30, 2009, 1:32 AM**

Quote:

Originally Posted by BigDan35

Okay, Nostradamus

burn!!

williamphilapa · #**128** Posted **Jan 30, 2009, 4:33 PM**

Quote:

Originally Posted by Pennsgrant

And banks dont throw around $300 M loans to developers with no track record of mega developments regardless of Intercontinental,Whole Foods, Best Buy. Maybe if this was a $30 M suburban lifestyle center you have takeoff, Grasso is trying to peddle 200 -300 condos/apts with this thing , it hasnt flown in the past and its not going to fly in the future imo.Hope I am wrong.

Valley Square cost $130 M and it included 200 condos as well (albeit age restricted)...point taken though, 1601 is a little more then double.