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Originally Posted by wwmiv
The next big domino to fall is the IBM building next door to these three proposed towers. Hopefully, by that time the area will be upzoned further for 400’ or more.
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This was in the transcription of the Brandywine investors call for the third quarter. Broadmoor is approved for 5 million square feet and could start construction year-end 2019. It also sounds like they are looking for a partner on this development.
https://www.nasdaq.com/aspx/call-tra...all-transcript
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Master plan related work is underway and done as of last quarter [for] Broadmoor, we're now into the site planning process for Phase 1, which will consist of office, multi-family. And if all goes well and subject to market conditions, we could be in a position to start Phase 1 by year end 2019.
Since resting on a Broadmoor with our baseline approvals in place now for an incremental 5 million square feet with an investment base per square foot of less than $2 per buildable foot, we have tremendous embedded equity value in that land holding and are frankly quite pleased with the level of interest we're seeing from both tenants and potential partners.
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