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Old 07-15-2011, 09:04 PM
 
Location: New York City
6,227 posts, read 5,562,899 times
Reputation: 3325

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I hear mixed things in the media and press. I heard that construction was put on hold until tenants could be found to fill at least 30% of the building. But from what ive read i would say somewhere in the next 2-5 years contruction could begin. There is also the porposed cirra center 2, which is likely to begin construction soon. It would be about 46 stories or so, and would twice the height of the original building.
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Old 07-16-2011, 01:37 AM
 
1,030 posts, read 3,061,428 times
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If it could prelease to the levels required, it would start construction. However, it can't find the anchor tenants it needs. Due to the fact that no progress has been made, I doubt I will ever see this building in my lifetime. It's big, but it's a little ugly for Philly's skyline. We can do better.

Maybe in another economy.
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Old 07-16-2011, 05:24 AM
 
Location: a swanky suburb in my fancy pants
3,391 posts, read 7,737,587 times
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If the planets were to become aligned in such a way as to make construction possible, a very big if and not anytime soon, I doubt the building would look like the original proposal very much. In cases where a development has dragged on this long the developer almost always redesigns the project for a fresh look and to suit changing requirements, tennants etc.
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Old 07-16-2011, 11:19 AM
 
Location: Philadelphia, PA
1,335 posts, read 1,370,842 times
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Cira 2 is going up, I shot photos for the developer last fall; it's definitely going to happen. American Commerce Center only needs the slightest uptick in the economy to get started... but right now it's just a proposal looking for a tenant, albeit with full permit approval. Who is going to move their corporate HQ to downtown Philly, especially if the building isn't named after them? I think some kind of 20-year tax break is going to be needed to make that happen.

On the plus side, the Pennsylvania convention center expansion is a success, that means Philly has too few hotel rooms as of right now. That bodes well for ACC since the hotel portion would likely be an immediate success.

The best sign that the ACC tower will still go up is that they applied for, and received an extension for the zoning relief needed to build a super-tall on that block.

http://planphilly.com/news/notebook/...can-commerce-c
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Old 07-17-2011, 12:21 AM
 
Location: Bella Vista
2,472 posts, read 3,486,213 times
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Quote:
Originally Posted by dmpinpa View Post
Construction is scheduled to start in 2012
no it is not.
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Old 07-17-2011, 12:31 PM
 
Location: a swanky suburb in my fancy pants
3,391 posts, read 7,737,587 times
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Quote:
Originally Posted by Dub King View Post
Cira 2 is going up, I shot photos for the developer last fall; it's definitely going to happen.
Is that "Cira 2 is going up", or Cira 2 will be going up? I am reminded of a guy (an architect) who used to post on SkyscraperPage.com and was working on Trump Tower on the Delaware and swore it was going up. "You can take that to the bank" he promised. All of a sudden he was looking for a new job.
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Old 07-17-2011, 03:14 PM
 
521 posts, read 1,171,138 times
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Office vacancy is going up, not down in Philly:

- GSK is moving its Philly office down to the Naval Yard. That's after they already moved their US HQ down to RTP, NC

- Sunoco is downsizing its presence along with its business

- Just last week, we found out that Cigna is moving its HQ to CT, not that it had a lot of people in Philly...they will likely reduce headcount and need less space in Liberty 2 (moving everyone to Liberty 1)

- BlackRock was thinking of moving its HQ from NJ to Philly (potentially to Cira 2), but that didn't happen even after PA and Philly gave it big tax breaks. They had some corporate issues and NJ probably gave them what they wanted to keep them there. Basically, Philly has not had any company from outside the metro (or even inside it!) move into the city and fill up space.

- More people are telecommuting or sharing cubicle space...companies are loathe to build new when they aren't even hiring. Texas has had a huge hiring boom (something like close to 50% of all new jobs created in the U.S. since 2009 have been in that state, believe it or not!) and even then they haven't had any new significant skyscraper built, although Dallas and Houston have had a ton of new mid-rise Class A properties built in last 5 years. Signature skyscrapers are few and far between.

So, all in all, prognosis of the ACC getting built are not good. I really wish they would build it, and in the same design and same height if not taller. But in reality, it may be a tough thing to pull off. Unless Philly gets its collective head from its ass and makes itself a mecca for business. With all sorts of red tape, pay for play, multiple taxes, and political insiders ruling the roost, I don't see that happening. Only things close to thriving in Philly are public sector and non-profit sector that don't have to pay taxes... eds and meds. And they aren't going to need an ACC.
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Old 07-18-2011, 04:01 PM
 
10,142 posts, read 10,248,782 times
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probably not
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Old 09-08-2011, 09:51 AM
 
3 posts, read 12,598 times
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Default Poor ACC...

More projects like ACC will no-doubtedly be delayed or never created due to Philadelphia's corrupt business tax structure. Big companies who would otherwise be tennants in these buildings do not come to Philly. Why would they? The city tries to tax them on every level and even forces them to pay anticipated taxes for the proceeding year. How the city doesn't realize that companies hate doing business here is ridiculous. City council can change everything if they wanted to but they don't. Acting in the best interests of the city and the people who live is not on their list of TO DO's. Being honest doesn't work for them. City council needs to be overhauled. But that's another topic for another post. And for the guy who said that the ACC wouldn't change the image of this city...take a hike and move to NYC.
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Old 09-08-2011, 10:11 AM
 
Location: The City
22,381 posts, read 33,159,779 times
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Quote:
Originally Posted by kriotto View Post
More projects like ACC will no-doubtedly be delayed or never created due to Philadelphia's corrupt business tax structure. Big companies who would otherwise be tennants in these buildings do not come to Philly. Why would they? The city tries to tax them on every level and even forces them to pay anticipated taxes for the proceeding year. How the city doesn't realize that companies hate doing business here is ridiculous. City council can change everything if they wanted to but they don't. Acting in the best interests of the city and the people who live is not on their list of TO DO's. Being honest doesn't work for them. City council needs to be overhauled. But that's another topic for another post. And for the guy who said that the ACC wouldn't change the image of this city...take a hike and move to NYC.

This property was just sold - this project is 99.9% dead
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