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This is the project that refuses to die. THe PWTC was proposed 15 years ago and just when you think it's all but dead it resurfaces. A couple months ago was word that the developers secured an $8 M dollar loan which is also backed by a guaranteed $8 M loan from DRPA and $ 6 M capital investment from DRPA.

Phase 1: 42 story residential tower
Phase 2: 27 story office tower
Phase 3: 44 story office tower
Phase 4: 44 story office/retail tower

I think the residential tower will get built and maybe the 27 story office tower but Philadelphia's economy is going to have to pick up substancially to ever see the 44 story towers built. The demand just isn't there and we don't need a Cira Centre East abducting tenants from Center City.

I have recently heard that there are several national and international pension funds looking at the financing----Philadlephia is getting on the world finance map---especially new residential condo.....THAT is something Philly hasn't seen since about 1830, in the Stephen Girard days!

My hope---WE GRAB ALL OF THE INVESTMENT CAPITAL the world will dish out to Philadelphia for as long as they will! When it's invested here (in building infrastructure)--it can never be taken away!

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SPM