Exactly right. Everyone is jumping all over with this... Let me clear some of this up from my perspective as I just bought one and am moving in next week...

There are a few reasons why it's taking longer than it should:

1. Every unit is custom built. They won't touch an unsold unit until they have a prospect who tells them what to do with it (ie, where to build walls, how tall, bathrooms, kitchen...)

2. Each unit has to be more or less sold/completed before they can apply for their C.O. on each floor. They're going ground up.

3. Floors 4-6 are already sold out and they're begining their next phase.

4. They had a lot of community issues with the Arch Street Comission and were forced to not do a few of the things that were planned. A structure was supposed to be built on the roof, which would raise it an additional 8 floors with a clocktower on top. The community board said no because it would obstruct their view (?). Additionally, they're all concerned about excess population and parking.

They're pushing ahead fast now. The lobby is finished, floors 4-6 are finished...

Floor 1 is commerical space and floor 2 is combination commercial/residential space.

Floor 3 is being built last. Right now, it's being used for supplies, but they plan on building expesive and larger units on that level as the ceiling is a lot higher than the other floors (with the exception of the penthouse floor).

All in all though, it's looking great!