New Skyscrapers in Philadelphia - PhillyBlog

cc · #1 (**permalink**) 03-07-2005, 11:13 AM

There's a third office tower (Parkway Plaza) being proposed for 15th and Arch. Its only 17 floors (though even then it might come afoul of this city's height restrictions :roll: ). Apparently, its been floated around for quite some time but never got anywhere due to lack of interest. Now Viacom is looking at possibly moving in once their lease on Independence Square is up. They're also looking at moving to other office buildings in Center City or moving to the suburbs. I have a feeling that the city will not approve of their plans for Parkway Plaza, however, since it calls for a transmission tower and for jumbotrons to be located on the outside of the building. Thus, I'm not banking on seeing this building anytime soon.

thunda · #2 (**permalink**) 03-07-2005, 04:01 PM

There's no need for any new office buildings in the city, since there's already a huge glut of floorspace. And prices per sq ft are so low, the only way a developer could build something is with subsidies.

Cochise · #3 (**permalink**) 03-07-2005, 05:14 PM

Quote:

Originally Posted by cc

I have a feeling that the city will not approve of their plans for Parkway Plaza, however, since it calls for a transmission tower and for jumbotrons to be located on the outside of the building. Thus, I'm not banking on seeing this building anytime soon.

Good

seand · #4 (**permalink**) 03-07-2005, 05:58 PM

Viacom probably don't have the direct line to the governor's office that Comcast does. Did this plan also involve tax abatements or could it pay for itself, like a proper commercial for-profit venture should?

wally · #5 (**permalink**) 03-07-2005, 06:22 PM

I don't think that they are going for anything more than the 10yr tax abatement that's already in place. That could always change though.

I really don't like the building. It's just a short glass box.

-this was originally posted by volguus zildrohar over on skyscraperpage

wally · #6 (**permalink**) 03-07-2005, 06:30 PM

Here is a PBJ article explaining the proposal:

http://www.bizjournals.com/philadelp...07/story1.html

Quote:

Viacom and Pulver plan new city office tower
Natalie Kostelni
Staff Writer
Plans to build Center City's third new office building are coming to a head as Viacom International zeros in on a proposed tower at 15th and Arch streets to house its local television broadcasting operations.

Viacom is in negotiations with developer Don Pulver to occupy about 100,000 square feet of the building, which would be between 250,000 square feet and 440,000 square feet. It could be as tall as 17 stories.
Viacom currently occupies an 80,000-square-foot building at 5th and Market streets and has its lease coming due. Its radio units, KYW and WYSP, as well as its television units CBS and UPN, have resided at the 101 S. Independence Mall building for the last 32 years.
Called Parkway Plaza, the new building would be designed to showcase the CBS and UPN television units.
"It would be a high-profile interactive studio, much like in New York," said Craig Scheuerle, senior vice president with Grubb & Ellis, who is representing Viacom. Scheuerle is referring to a popular windowed street-level studio used by major television networks that allows live views of the city in the background, as well as some pedestrian interaction. It will also likely have exterior Jumbotrons so that those passing by could watch what is on the air.
If it gets the green light, Parkway Plaza would be the third major office tower to break ground in Philadelphia after a nearly 15-year drought of new office construction. Brandywine Realty Trust of Plymouth Meeting was the first to get a new building underway in 2003 with Cira Centre, a 728,000-square-foot building adjacent to Amtrak's 30th Street Station. It is 28 stories high. Liberty Property Trust of Malvern began construction in January on Comcast Center, a 1.2 million-square-foot building with 57 floors at 17th Street and John F. Kennedy Boulevard.
Viacom hasn't decided what to do with its local radio units though relocating them to Bala Cynwyd, where several other local radio stations are clustered, is an option.
Viacom's current building on Independence Mall was constructed for its local media outlets. With its lease expiring, it decided to seek more high-profile space in which it can install state-of-the-art broadcasting equipment. The option of retrofitting its existing space was deemed too costly.
While Pulver's building is its first choice, Centre Square is a "strong second," Scheuerle said. That building at 15th and Market streets would offer Viacom visibility and would be redesigned with street-level studios.
Viacom will determine the feasibility of 15th and Arch based on city approvals and decide what to do within the next 30 days. The property is commonly referred to as the old Acme site, where the supermarket chain once maintained its headquarters. It would require zoning approvals for signage and transmission towers.
"Without those approvals, we'll have to go to other alternatives," Scheuerle said. Those include reconsidering Centre Square and 10 Penn Center at 18th and Market streets, as well as buildings in Camden and Conshohocken.
The company is not seeking any state or local financial incentives. The developer would receive a 10-year abatement on real estate taxes given to any new construction project in the city. It's unknown whether the developer would seek additional funds from the state or city. Pulver declined comment.
Pulver has tried to line up a tenant for Parkway Plaza for the last two years amid a rash of major downtown leases that were expiring this year and next. Towers Perrin seriously considered the building but decided last year to remain in Centre Square, where it will ultimately occupy between 250,000 and 300,000 square feet. When other big tenants in the market struck deals in Center City buildings, Pulver continued to market the space.
If Pulver's site does work out, Viacom would move in around March 2007.

© 2005 American City Business Journals Inc.

seand · #7 (**permalink**) 03-07-2005, 06:49 PM

Building itself is ugly as sin. I don't have a huge problem with jumbotrons in a non-residential area. Might give some visual relief to the monotony of that ugly box, actually.

Winston · #8 (**permalink**) 03-07-2005, 06:58 PM

Philadelphia needs another office building about as much as Ben Affleck needs another crappy movie on his resume.

OK, I'll now duck to avoid SPM's inevitable wrath...

Back in one of the Comcast threads, I remember people suggesting that jumbotrons would be cool on the exterior of its new building. If any company were to do it, that'd be the most sensible one.

eldondre · #9 (**permalink**) 03-07-2005, 07:42 PM

damnit, I can't see the pic. as far as the idea of building office buildings, if it is not receiving a subsidy the building should get approval since the city should NOT be determining that companies have to stay in oldr buildings if they don't want to. It's a big deal when they get big breaks but if this is a legit deal, the so be it. That area could use some more life. I used to walk through there all the time. not much happening. there are some older office buildings that are looking ripe for conversion too.

wilreynolds · #10 (**permalink**) 03-07-2005, 08:36 PM

As usual, I am with El. NO special subsidies = fine with me.