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Old August 26th, 2008, 02:23 AM   #321
Alpha/S.
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http://www.philly.com/philly/blogs/i...y_future_.html

MONDAY, AUGUST 25, 2008
No TD tower in Philly future?
PhillyDeals reader David Sinclair suggests a conceivable tenant for American Commerce Center or any of the other speculative towers being floated for Center City: Why not TD Bank Financial Group?

The Canada giant has acquired a string of big U.S. financial institutions, including TD Banknorth of Portland, Maine; TD Ameritrade, based in Jersey City and Omaha; and, most recently, Commerce Bancorp, of Cherry Hill. Maybe they want a signature U.S. building in a not-so-expensive city where they also have a lot customers? Maybe their swollen Canadian dollars can finance a truly North American edifice complex?

TD is no stranger to soaring architecture. Its six-building Toronto headquarters and Toronto Dominion Bank Tower was designed by celebrity architect Mies van der Rohe.

Problem: U.S. commercial banks are in a fight for survival. None of the big U.S. banks in Philly -- Wachovia, PNC, Citizens, Bank of America, Sovereign -- have chosen to build imperial high-rises. They occupy their predecessors' decades-old digs, mostly.

And TD promises not to, either, though salesmen keep calling. "As we said many times, we'll continue to have both executives and a significant employee base in both Portland and at our extensive (former Commerce) campus in the Mount Laurel-Cherry Hill area," said TD spokesman Neil Parmenter.

American Commerce developer Joseph Grasso isn't fueling rumors. "The climate's really difficult now," he told me when I asked him if he's landed tenants or lenders for his supertall. "We're still moving forward. It'll take time."


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Old October 9th, 2008, 06:48 PM   #322
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http://philadelphia.bizjournals.com/philadelphia/stories/2008/10/06/story14.html?b=1223265600^1710757

Friday, October 3, 2008 | Modified: Thursday, October 9, 2008 - 7:00 AM

Possible Glaxo move might be a boon for tower project
Philadelphia Business Journal - by Natalie Kostelni Staff Writer


GlaxoSmithKline, the pharmaceutical company that has a U.S. headquarters at One Franklin Plaza in Center City, is about to be in play as an office tenant, a situation that could kick off a new downtown building.

While the company could stay where it is at One and Three Franklin Plaza overlooking the Vine Street Expressway, it will likely seek roughly 900,000 square feet of space in a building that has yet to be built, according to several people familiar with the company’s real estate situation.

As the office market is now, there’s no room at any existing buildings that could accommodate a major tenant, and there are few existing major tenants who have leases expiring in the near term that could prompt a building to be constructed.

There are fewer than a handful of sites downtown that would work for a tenant of the scale and size of GSK. The contenders are: American Commerce Center, a proposed mixed-use building at 18th and Arch streets that would rise as the tallest skyscraper in the United States; a site that Liberty Property Trust owns at 15th and Cherry streets that could accommodate upwards of a million square feet; a parcel owned by Realen Properties at 16th and Vine streets; and even Brandywine Realty Trust’s Cira South project, though negotiations to secure BlackRock Group as the lead tenant there are ongoing. Or it could stay where it is.

The pharmaceutical company leases about 650,000 square feet at One Franklin Plaza from HRPT Properties Trust. That lease expires in 2013. It leases another 220,000 square feet at Three Franklin Plaza from Liberty Property, which constructed the building in 2000 for GSK. That lease expires in 2014 and that building can be expanded upward by 220,000 square feet.

By some accounts, the proposed American Commerce Center is one of the lead options. The building, which would total 2.2 million square feet and reach 1,500 feet into the sky, would allow GSK to consolidate into a single building and provide it room to grow. The company has 1,800 employees downtown. It would also give the company fresh space not too far from its current headquarters that, with the building’s other components, including a hotel and retail, would help attract and retain employees and provide a convenient place for corporate visitors and clients to stay.

The developer of American Commerce Center, Hill International Real Estate Partners, is also seeking to extend the underground commuter rail concourse to the building.

The building is deep into the city’s planning and approval process, which may work for Glaxo’s timeframe to make a decision before its leases expire and get the building out of the ground, according to industry sources.

Such a gargantuan lease would mean a great deal for American Commerce and its developer. At one point, TD Banknorth was eying the building. A GSK lease would take up the majority of the tower’s 1.3 million square feet of office space and enable the developer to secure a construction loan, said a person with knowledge of the project. While it likely would not be able to get a loan from an American bank because of the credit crisis, foreign lenders have already shown an interest in the project, he said.
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Old October 10th, 2008, 03:22 AM   #323
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Very interesting. I hope it happens. I'd love to see this building finally take off.
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Old October 10th, 2008, 03:32 AM   #324
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Philly, omg!!! good! i have being there 3 times i hope they do it
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Old October 14th, 2008, 03:05 AM   #325
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THANKS Grk101!!!! That's good news! I REALLY hope they build this!
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Old October 14th, 2008, 03:19 AM   #326
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New Renders!!!!

ACC during the day


ACC during at night


Plaza
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Old October 14th, 2008, 03:26 AM   #327
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Beautiful. I especially love the earlier renderings of the elevated public spaces.

And here we all thought Comcast was going to be the crowning jewel of Philly's building boom.
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Old October 14th, 2008, 09:34 AM   #328
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cheers philyguy, Love them photos but what has changed dramatically?
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Old October 14th, 2008, 10:50 AM   #329
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^

Scaled downwards???

The tower is much lower i think and the antenne is much more ugly then in the first renders!

Or is it optical fraud...?
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Old October 14th, 2008, 09:02 PM   #330
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Quote:
Originally Posted by buildmilehightower View Post
cheers philyguy, Love them photos but what has changed dramatically?
I think right now what has changed is the consideration of companies actually looking to occupy the Tower. I amongst others hope that the design will change as the planning continues. They have actually updated their site since I've visited it last, if that’s worth mentioning LOL.
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Old October 15th, 2008, 02:16 AM   #331
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good for philly
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Old October 15th, 2008, 03:18 AM   #332
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Video I put together.

Philadelphia - American Commerce Center PT. 1

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Old October 15th, 2008, 05:53 AM   #333
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GO PHILLIES !
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Old October 15th, 2008, 05:10 PM   #334
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Looks Great. GO Philly!
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Old October 15th, 2008, 08:33 PM   #335
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great new renders, looks wonderful
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Old October 16th, 2008, 07:11 AM   #336
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Amazing renderings. Hopefully this tower gets built!
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Old October 16th, 2008, 11:06 AM   #337
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WOW! Gorgeous!
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Old October 17th, 2008, 12:12 AM   #338
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looks good, but really dont like the spire.
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Old October 17th, 2008, 02:36 AM   #339
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The new renderings look amazing!
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Old October 17th, 2008, 02:45 AM   #340
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looks awesome!!!
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