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  #1  
Old Posted Oct 17, 2013, 5:07 AM
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CONSHOHOCKEN, PA | Seven Tower Bridge | 190 FT | 14 FLOORS



Seven Tower Bridge is the new centerpiece of the Tower Bridge development, maintaining the tradition of the finest, downtown-
quality architecture and appointments. This fourteen-story, 260,000 square foot office tower on the banks of the Schuylkill River offers highly efficient office space on 26,000 square foot floors. Every detail is of the highest style – a two-story, classic travertine marble lobby, polished stainless steel trim, 9-foot high windows of Solex glass framing panoramic views, 10-foot high, custom, book-matched, exotic wood-paneled elevators, and designer landscaping on riverside walking paths and public plazas. The building offers multiple routes to and from major access roads, so you stay on schedule. Tenants enjoy a private, spa-quality gym, casual riverside café, and 820 spaces of primarily covered parking with fast, direct access elevators into the building.

http://www.towerbridgeproperties.com/seven_tb.html

Last edited by summersm343; Nov 18, 2016 at 12:42 AM.
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Old Posted Dec 2, 2014, 4:02 AM
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  #3  
Old Posted Dec 2, 2014, 4:59 PM
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Wow, I'm not sure they could have done a better job of blending in with the Conshohocken aesthetic...
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  #4  
Old Posted Oct 3, 2015, 12:06 AM
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This was the wrong property.

Last edited by summersm343; Dec 9, 2016 at 7:53 PM.
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  #5  
Old Posted Sep 3, 2017, 7:44 PM
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Images from the Developers website:
http://www.towerbridgeproperties.com/seven_tb.html
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  #6  
Old Posted Sep 3, 2017, 8:23 PM
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Any indication that this will be built soon? Would love to see it, Conshohocken has great potential to continue to densify, truly a gem in the suburbs. I also like to see that "Seven Tower Bridge is owned by a partnership of affiliates of Delaware Valley Real Estate Investment Fund, Brandywine Realty Trust and Oliver Tyrone Pulver Corporation." This ownership knows how to get stuff done.
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Old Posted Sep 4, 2017, 11:52 PM
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Would like to see this built, aside from the fact that Conshohocken is becoming a bit gridlocked. That said, there is a stalled project on Elm Street (410 Elm St. ?). There is also the newly proposed (and zoning approved) project on 1st and Fayette. And I believe there is some new space planned down the road a few miles in Spring Mill. So it is quite a bit of proposed commercial space for a market that has not had much new space in a while.

It is sort of surprising that at least one or two of these don't take off quickly in a commercial sub market that has very little vacancy and relatively high rents.
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Old Posted Jul 10, 2018, 11:48 PM
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Cancelled

https://www.bizjournals.com/philadel...dge-files.html

*March 26th, 2018

Quote:
Seven Tower Bridge Associates, a limited partnership that was formed to develop a new office tower in Conshohocken called Seven Tower Bridge, has voluntarily filed for Chapter 11 bankruptcy protection.

The filing in the U.S. Bankruptcy Court for the Eastern District of Pennsylvania stems from a lawsuit filed April 2017 in which R&J Holding Co. of Trappe initiated a mortgage in foreclosure proceeding against Seven Tower Bridge Associates in the Montgomery County Court of Common Pleas. The land subject to the mortgage is 110 Washington St. in Conshohocken, which is where Seven Tower Bridge Associates plans to develop the office building. There had been a March 23 court hearing for arguments in Montgomery County on a motion for judgment on the case and Seven Tower Bridge Associates filed for bankruptcy on March 22, putting an automatic stay on that litigation.

R&J Holding said in court documents it lent the Seven Tower Bridge Associates $8 million in a first mortgage in February 2010 that was ultimately scheduled to mature March 1, 2017. On March 3, 2017, R&J Holding sent a notice of default and demanded payment within seven days. “Pursuant to the terms of the note and the mortgage agreement, the note and the mortgage have been in default since March 1, 2017. To date, Seven Tower has failed to cure the default,” court documents filed by R&J Holding said.

Donald Pulver of Oliver Tyrone Pulver Corp. (OTPC) is in charge of Seven Tower Bridge Associates and has had plans since 2010 to build a 14-story, 250,000-square-foot structure on 2.3 acres at 110 Washington St. The project would have 10 stories of office space atop a four-story parking garage.

Conshohocken redevelopment

OTPC has been one of the dominant developers in Conshohocken and West Conshohocken having built two Marriott hotels and eight office buildings as part of its Tower Bridge office campus totaling 1.3 million square feet. The development of Seven Tower Bridge would have completed the vision for that campus and though the building has yet to be realized, it hasn’t been for lack of trying. Over the last eight years, Seven Tower Bridge Associates has invested $22.6 million in site work, designing the building and garage, legal fees, permits and other expenses, according to the bankruptcy filing. All of that was in preparation of landing a tenant for the building and kickstarting its construction. Those leasing efforts have been unsuccessful.
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Old Posted Aug 7, 2018, 4:44 PM
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My apologies, my statement of it being cancelled was premature.

Settlement reached over Seven Tower bankruptcy

Quote:
A settlement has been reached in a Chapter 11 bankruptcy proceeding that involves an entity overseeing the development of Seven Tower Bridge, a proposed office building in Conshohocken, and a company that lent money to help fund the project.

After going through mediation, Seven Tower Bridge Associates, the debtor in the bankruptcy, along with the Redevelopment Authority of Montgomery County, R&J Holding Co., and the borough of Conshohocken have come to terms that will allow the Seven Tower Bridge Associates to proceed with the development.

“We’re back in business like it never happened,” said Don Pulver of Oliver Tyrone Pulver, who controls Seven Tower Bridge Associates. “It’s all resolved and we're back to business as usual.”

Seven Tower Bridge Associates, a limited partnership formed to develop the proposed office tower, has had plans since 2010 to build a 14-story, 250,000-square-foot structure on 2.3 acres at 110 Washington St. The project would have 10 stories of office space atop a four-story parking garage.

Over the last eight years, Seven Tower Bridge Associates invested $22.6 million in site work, designing the building and garage, legal fees, permits and other expenses. All of that was in preparation to secure a tenant for the building and starting construction. Those leasing efforts have been unsuccessful and the building has never gotten out of the ground.

Pulver is confident he will be successful in finally developing Seven Tower, which would cost around $100 million to build, and will be able to do so in the next two years. He believes the market and tenants are in a better position to have the project move forward.
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  #10  
Old Posted Oct 26, 2018, 2:00 PM
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This has been downsized to 9 floors, so the thread will be closed.

https://morethanthecurve.com/first-l...-conshohocken/
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  #11  
Old Posted Mar 28, 2019, 1:50 AM
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This is back! Four new highrises for Conshy??? Crazy!





Read more here:
https://morethanthecurve.com/conshoh...ction-in-2019/
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  #12  
Old Posted Mar 28, 2019, 1:33 PM
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SEPTA really needs to increase the frequency on the Manayunk/Norristown line. There is so much potential if that line acts more like a heavy rail line over commuter. If you go by station:

Temple and surroundings: Established and growing rapidly
North Broad: Potential for that huge development
Allegheny: Still will be sometime before more development reaches up there
East Falls through Conshy: All growing, dense, and very established neighborhoods
Norristown: While most people do not think of Norristown, the town is very dense and has grown by 10% from 2000 to 2010 and estimates have 5% growth from 2010-2017. Norristown is almost back at peak population so there is potential there as well.
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  #13  
Old Posted Mar 28, 2019, 1:37 PM
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Quote:
Originally Posted by nimshady View Post
SEPTA really needs to increase the frequency on the Manayunk/Norristown line. There is so much potential if that line acts more like a heavy rail line over commuter. If you go by station:

Temple and surroundings: Established and growing rapidly
North Broad: Potential for that huge development
Allegheny: Still will be sometime before more development reaches up there
East Falls through Conshy: All growing, dense, and very established neighborhoods
Norristown: While most people do not think of Norristown, the town is very dense and has grown by 10% from 2000 to 2010 and estimates have 5% growth from 2010-2017. Norristown is almost back at peak population so there is potential there as well.
Agree. Both the Norristown line and the Paoli/Thornsale line through the Main Line go through very dense, practically city like towns. They need to increase frequency on both lines and have them running AT LEAST every 30 minutes.
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Old Posted Mar 28, 2019, 7:00 PM
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Quote:
Originally Posted by nimshady View Post
SEPTA really needs to increase the frequency on the Manayunk/Norristown line. There is so much potential if that line acts more like a heavy rail line over commuter. If you go by station:

Temple and surroundings: Established and growing rapidly
North Broad: Potential for that huge development
Allegheny: Still will be sometime before more development reaches up there
East Falls through Conshy: All growing, dense, and very established neighborhoods
Norristown: While most people do not think of Norristown, the town is very dense and has grown by 10% from 2000 to 2010 and estimates have 5% growth from 2010-2017. Norristown is almost back at peak population so there is potential there as well.
To increase frequency you need several things- more cars, more employees, more yard space for the additional cars you procured and enough capacity on the mainline to accommodate more trains. The fact that several lines converge on the reading side makes increasing frequency of one or more of those branches complicated and potentially expensive. You are probably maxed out in terms of all the metrics I listed during every rush hour- so the best you could do is extend the hours with rush hour frequency
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Old Posted Mar 28, 2019, 11:25 PM
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I think rush hour frequency is fine as it is. It is really in the evenings and weekends where increased frequency is most needed. Manayunk feels disconnected from the rest of the city and a big reason is the train only runs once an hour on weekends.
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  #16  
Old Posted Sep 8, 2019, 7:14 PM
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Can't read the article but...

Seven Tower Bridge aims for 2020 opening

Read more here if you can access:
https://www.bizjournals.com/philadel...velopment.html
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Old Posted Sep 8, 2019, 7:36 PM
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Quote:
Originally Posted by summersm343 View Post
Seven Tower Bridge aims for 2020 opening

Read more here if you can access:
https://www.bizjournals.com/philadel...velopment.html
Quoted from article:

See Correction/Clarification at end of article

While it’s publicly unknown if Hamilton Lane, an investment firm with its local operations in Bala Cynwyd, has wrapped up a deal to lease space at Seven Tower Bridge in Conshohocken, what is certain is the clock is ticking on the development of the building.

Last month marked a year since Seven Tower Bridge Associates signed off on a court agreement to adhere to certain requirements by September 2020 regarding the 14-story, 255,000-square-foot office building at 110 Washington St. Seven Tower Bridge Associates, which is affiliated with Oliver Tyrone Pulver, promotes on its website that Seven Tower will open in 2020.

Key to opening by that date is landing one or more anchor tenants for the building. Private equity firm Hamilton Lane has been rumored for months to be the marquee tenant that has either signed or is close to signing a lease for between 120,000 and 140,000 square feet at Seven Tower. That is just over half of the building at the high end of the amount of space it is seeking.

That might not be enough to secure financing for new development, according to industry experts who say lenders prefer a minimum of 70% of a new building to be leased before signing off on a loan. Then, again, progress appears to be underway behind the scenes on Seven Tower.
A rendering of Seven Tower Bridge in Conshohocken.
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A rendering of Seven Tower Bridge in Conshohocken.

Courtesy Skidmore Owings & Merrill/Oliver Tyrone Pulver Corp

“It is an extraordinary building that I am pleased to report is in the final stages of pre-development,” said Don Pulver of Oliver Tyrone Pulver in an email.

Hamilton Lane was more reticent when asked whether it has finalized a deal to take space in the building. “Unfortunately, we aren’t in a position to comment on this right now,” said Kate McGann, spokeswoman, in an email. Hamilton Lane occupies space in One Presidential Blvd. in Bala Cynwyd.
A rendering from an online marketing brochure for Seven Tower Bridge
Enlarge

A rendering from an online marketing brochure for Seven Tower Bridge

Oliver Tyrone Pulver

The developer had sought $2 million in Pennsylvania’s Redevelopment Assistance Capital Program for Seven Tower Bridge but so far has not received it, according to the latest round of funding released by the state in August.

Seven Tower Bridge Associates voluntarily filed in March 2018 for Chapter 11 bankruptcy protection as a way to stop a mortgage foreclosure proceeding that had been initiated. A settlement was reached through those bankruptcy proceedings in August 2018 with several contingencies chief among them that Seven Tower Bridge Associates: make interest payments; that certain loans be paid off; and tax payments be current, according to court documents. The plan provides though doesn't require the developer two years from that date to market the property, pre-lease it to tenants, secure a construction loan, and work toward getting it constructed. Though there is no requirement to have Seven Tower built by a certain date.

As an alternative, it could use those two years to market the approved development site to a third party buyer, according to court documents.

The building is being billed as the centerpiece of the Tower Bridge office complex developed by Oliver Tyrone Pulver in Conshohocken and West Conshohocken. It was designed by Skidmore Owings & Merrill. Aside from the office space, the project would have parking, front the Schuylkill River and have a 10,000-square-foot public area facing the river.
Correction/Clarification

An earlier version of the story incorrectly stated that Seven Tower Bridge needed to be built within two years of a bankruptcy settlement made in August 2018. While there are several provisions that need to be met to adhere to that agreement, part of that doesn't include having Seven Tower built. In addition, the maturity date for that bankruptcy plan is Sept. 30, 2020. The article has been updated to reflect those corrections.
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  #18  
Old Posted Oct 16, 2019, 1:23 PM
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Seven Tower Bridge secures tenant, financing for new office development

Quote:
Hamilton Lane will move to Conshohocken from Bala Cynwyd as Oliver Tyrone Pulver Corp. has secured financing to push ahead with the construction of Seven Tower Bridge, a $112 million, 260,000-square-foot office building.
Conshohocken will look very different in a few years.
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  #19  
Old Posted Oct 16, 2019, 1:59 PM
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Conshohocken is catching fire with these long proposed buildings. The first Sora West building under construction is already ~2 floors above street level.

More details from the article:
Quote:
Hamilton Lane will anchor the 14-story riverfront building at 110 Washington St., taking 130,000 square feet beginning in 2021. Oliver Tyrone Pulver continues discussions with several other tenants to fill the remainder of the space, according to people familiar with the situation.
...
Hamilton Lane (NASDAQ: HLNE) will occupy the top five floors of the building and have its name on it. The investment firm’s local offices have been located in Bala Cynwyd since 2000 when it moved out of Philadelphia.
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Old Posted Oct 16, 2019, 2:02 PM
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This thing is going get built in a hurry.

"Oliver Tyrone Pulver will lease 4,000 square feet of space in the new building. Seven Tower will have four levels of parking and expected to be completed in November 2020 with Hamilton Lane moving in 2021.
The compressed construction period is the result of Oliver Tyrone already putting in $22.6 million in site work, designing the building, obtaining permits and installing other infrastructure. This preparation readied the building for ground breaking once a tenant and loan were secured.
Hamilton Lane (NASDAQ: HLNE) will occupy the top five floors of the building and have its name on it. The investment firm’s local offices have been located in Bala Cynwyd since 2000 when it moved out of Philadelphia. It had been looking for new office space in the suburbs for the last year and the Business Journal reported in March it had been eyeing Seven Tower.
Hamilton Lane, with $473 billion in total assets under management, has nearly 260 local employees, according to Business Journal research."
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