Quote:
Originally Posted by Caruso975
To suggest that ACC was killed off by Liberty Property Trust and/or Comcast is fantasy bordering on paranoia.
ACC died because it did not have a credible sponsor with track record in the development of large complex urban projects. The sponsor had neither the capital, nor the access to the capital, nor the tenants, nor the ability to obtain those tenants which would be necessary in order to bring such a project to fruition. In short, in never had a real chance of becoming a reality.
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I beg to differ when it comes to the capital portion!!! Garrett Miller, the developer of the ACC, had almost a billion dollars dedicated to the project alone, so the recession never killed the project alone, as it's popularly believed. The main reason had a lot to do with the ACC never getting a main tenant (BlackRock, TDBank, GSK, etc.) as well as the infamous bureaucracy we have to deal with in this city.
Notice the Cira Centre South was proposed a year before the ACC, and that project was held up for about 4 years before the Evo was finally erected. A lot had to do with the 2008 recession, since it's mainly a residential project. The ACC was a mostly commercial and retail project, so it still had a chance of making it until the unfortunate happened and Garret Miller was forced to pull the plug on the ACC!