CONSHOHOCKEN, PA | Seven Tower Bridge | 190 FT | 14 FLOORS
https://www.inquirer.com/resizer/ii_...AL2JUFA72M.jpg
Seven Tower Bridge is the new centerpiece of the Tower Bridge development, maintaining the tradition of the finest, downtown- quality architecture and appointments. This fourteen-story, 260,000 square foot office tower on the banks of the Schuylkill River offers highly efficient office space on 26,000 square foot floors. Every detail is of the highest style – a two-story, classic travertine marble lobby, polished stainless steel trim, 9-foot high windows of Solex glass framing panoramic views, 10-foot high, custom, book-matched, exotic wood-paneled elevators, and designer landscaping on riverside walking paths and public plazas. The building offers multiple routes to and from major access roads, so you stay on schedule. Tenants enjoy a private, spa-quality gym, casual riverside café, and 820 spaces of primarily covered parking with fast, direct access elevators into the building. http://www.towerbridgeproperties.com/seven_tb.html |
New rendering and article:
http://static01.nyt.com/images/2014/...ByNine1050.jpg http://www.nytimes.com/2014/09/03/re...ffice-hub.html |
Wow, I'm not sure they could have done a better job of blending in with the Conshohocken aesthetic...
|
This was the wrong property.
|
Images from the Developers website:
http://www.towerbridgeproperties.com/seven_tb.html |
Any indication that this will be built soon? Would love to see it, Conshohocken has great potential to continue to densify, truly a gem in the suburbs. I also like to see that "Seven Tower Bridge is owned by a partnership of affiliates of Delaware Valley Real Estate Investment Fund, Brandywine Realty Trust and Oliver Tyrone Pulver Corporation." This ownership knows how to get stuff done.
|
Would like to see this built, aside from the fact that Conshohocken is becoming a bit gridlocked. That said, there is a stalled project on Elm Street (410 Elm St. ?). There is also the newly proposed (and zoning approved) project on 1st and Fayette. And I believe there is some new space planned down the road a few miles in Spring Mill. So it is quite a bit of proposed commercial space for a market that has not had much new space in a while.
It is sort of surprising that at least one or two of these don't take off quickly in a commercial sub market that has very little vacancy and relatively high rents. |
Cancelled
https://www.bizjournals.com/philadel...dge-files.html *March 26th, 2018 Quote:
|
My apologies, my statement of it being cancelled was premature.
Settlement reached over Seven Tower bankruptcy Quote:
|
This has been downsized to 9 floors, so the thread will be closed.
https://morethanthecurve.com/first-l...-conshohocken/ |
This is back! Four new highrises for Conshy??? Crazy!
https://storage.googleapis.com/burbc...r-1024x576.jpg https://storage.googleapis.com/burbc...e-1024x717.jpg Read more here: https://morethanthecurve.com/conshoh...ction-in-2019/ |
SEPTA really needs to increase the frequency on the Manayunk/Norristown line. There is so much potential if that line acts more like a heavy rail line over commuter. If you go by station:
Temple and surroundings: Established and growing rapidly North Broad: Potential for that huge development Allegheny: Still will be sometime before more development reaches up there East Falls through Conshy: All growing, dense, and very established neighborhoods Norristown: While most people do not think of Norristown, the town is very dense and has grown by 10% from 2000 to 2010 and estimates have 5% growth from 2010-2017. Norristown is almost back at peak population so there is potential there as well. |
Quote:
|
Quote:
|
I think rush hour frequency is fine as it is. It is really in the evenings and weekends where increased frequency is most needed. Manayunk feels disconnected from the rest of the city and a big reason is the train only runs once an hour on weekends.
|
Can't read the article but...
Seven Tower Bridge aims for 2020 opening
Read more here if you can access: https://www.bizjournals.com/philadel...velopment.html |
Quote:
See Correction/Clarification at end of article While it’s publicly unknown if Hamilton Lane, an investment firm with its local operations in Bala Cynwyd, has wrapped up a deal to lease space at Seven Tower Bridge in Conshohocken, what is certain is the clock is ticking on the development of the building. Last month marked a year since Seven Tower Bridge Associates signed off on a court agreement to adhere to certain requirements by September 2020 regarding the 14-story, 255,000-square-foot office building at 110 Washington St. Seven Tower Bridge Associates, which is affiliated with Oliver Tyrone Pulver, promotes on its website that Seven Tower will open in 2020. Key to opening by that date is landing one or more anchor tenants for the building. Private equity firm Hamilton Lane has been rumored for months to be the marquee tenant that has either signed or is close to signing a lease for between 120,000 and 140,000 square feet at Seven Tower. That is just over half of the building at the high end of the amount of space it is seeking. That might not be enough to secure financing for new development, according to industry experts who say lenders prefer a minimum of 70% of a new building to be leased before signing off on a loan. Then, again, progress appears to be underway behind the scenes on Seven Tower. A rendering of Seven Tower Bridge in Conshohocken. Enlarge A rendering of Seven Tower Bridge in Conshohocken. Courtesy Skidmore Owings & Merrill/Oliver Tyrone Pulver Corp “It is an extraordinary building that I am pleased to report is in the final stages of pre-development,” said Don Pulver of Oliver Tyrone Pulver in an email. Hamilton Lane was more reticent when asked whether it has finalized a deal to take space in the building. “Unfortunately, we aren’t in a position to comment on this right now,” said Kate McGann, spokeswoman, in an email. Hamilton Lane occupies space in One Presidential Blvd. in Bala Cynwyd. A rendering from an online marketing brochure for Seven Tower Bridge Enlarge A rendering from an online marketing brochure for Seven Tower Bridge Oliver Tyrone Pulver The developer had sought $2 million in Pennsylvania’s Redevelopment Assistance Capital Program for Seven Tower Bridge but so far has not received it, according to the latest round of funding released by the state in August. Seven Tower Bridge Associates voluntarily filed in March 2018 for Chapter 11 bankruptcy protection as a way to stop a mortgage foreclosure proceeding that had been initiated. A settlement was reached through those bankruptcy proceedings in August 2018 with several contingencies chief among them that Seven Tower Bridge Associates: make interest payments; that certain loans be paid off; and tax payments be current, according to court documents. The plan provides though doesn't require the developer two years from that date to market the property, pre-lease it to tenants, secure a construction loan, and work toward getting it constructed. Though there is no requirement to have Seven Tower built by a certain date. As an alternative, it could use those two years to market the approved development site to a third party buyer, according to court documents. The building is being billed as the centerpiece of the Tower Bridge office complex developed by Oliver Tyrone Pulver in Conshohocken and West Conshohocken. It was designed by Skidmore Owings & Merrill. Aside from the office space, the project would have parking, front the Schuylkill River and have a 10,000-square-foot public area facing the river. Correction/Clarification An earlier version of the story incorrectly stated that Seven Tower Bridge needed to be built within two years of a bankruptcy settlement made in August 2018. While there are several provisions that need to be met to adhere to that agreement, part of that doesn't include having Seven Tower built. In addition, the maturity date for that bankruptcy plan is Sept. 30, 2020. The article has been updated to reflect those corrections. |
Seven Tower Bridge secures tenant, financing for new office development
Quote:
|
Conshohocken is catching fire with these long proposed buildings. The first Sora West building under construction is already ~2 floors above street level.
More details from the article: Quote:
|
This thing is going get built in a hurry.
"Oliver Tyrone Pulver will lease 4,000 square feet of space in the new building. Seven Tower will have four levels of parking and expected to be completed in November 2020 with Hamilton Lane moving in 2021. The compressed construction period is the result of Oliver Tyrone already putting in $22.6 million in site work, designing the building, obtaining permits and installing other infrastructure. This preparation readied the building for ground breaking once a tenant and loan were secured. Hamilton Lane (NASDAQ: HLNE) will occupy the top five floors of the building and have its name on it. The investment firm’s local offices have been located in Bala Cynwyd since 2000 when it moved out of Philadelphia. It had been looking for new office space in the suburbs for the last year and the Business Journal reported in March it had been eyeing Seven Tower. Hamilton Lane, with $473 billion in total assets under management, has nearly 260 local employees, according to Business Journal research." |
All times are GMT. The time now is 3:01 AM. |
Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2024, vBulletin Solutions, Inc.