PHILADELPHIA | 3001 JFK Boulevard | Schuylkill Yards | 512 FT | 34 FLOORS - Page 19

summersm343 · #**361** Posted **Mar 10, 2023, 1:06 AM**

I think the tower is 930,000 square feet of office space. Dechert was only looking for 200-300,000 if I'm not mistaken. That means we would likely need another tenant to commit to 200-300,000 sq ft of space to get financing to get this off of the ground. Unless interest rates come back down, financing loosens, and the lab/life sciences demand here is so strong that they think they could lease the bottom floors to those uses and build on spec or getting an anchor tenant in that field, we're going to wait on another anchor tenant to come along for this to get off of the ground unfortunately.

TK2001 · #**362** Posted **Aug 31, 2023, 2:25 AM**

3001 JFK fence and Avira by Philly SkyGuy, on Flickr
Small update, but there's new fencing around the site

Dan1 · #**363** Posted **Aug 31, 2023, 1:37 PM**

Unfortunately, the Expected Delivery has changed to "Shovel-ready". So it doesn't look like they're moving forward in the immediate future.

https://schuylkillyards.com/lease-sp...-jfk-boulevard

Gatorade_Jim · #**364** Posted **Aug 31, 2023, 2:07 PM**

Quote:

Originally Posted by Dan1

Unfortunately, the Expected Delivery has changed to "Shovel-ready". So it doesn't look like they're moving forward in the immediate future.

https://schuylkillyards.com/lease-sp...-jfk-boulevard

Yeah I mean it's a 600 foot office building. Without an anchor tenant I'm not sure how that would pencil out at the moment. Hopefully they can convert it to a residential/commercial mix that works.

Aether · #**365** Posted **Sep 1, 2023, 11:31 PM**

That's exactly what I've been saying. I think they should take a page out of the previous tower right next door part office bought residential or maybe throw in a hotel or some lab space. I'd love the hotel and residential option. The city needs a new hotel

Mr Saturn64 · #**366** Posted **Sep 2, 2023, 6:20 PM**

This building is listed as under construction on the diagrams, and is also listed as being 670 feet tall.

Gatorade_Jim · #**367** Posted **Sep 2, 2023, 8:57 PM**

Quote:

Originally Posted by Mr Saturn64

This building is listed as under construction on the diagrams, and is also listed as being 670 feet tall.

What diagrams are you referening?

Mr Saturn64 · #**368** Posted **Sep 3, 2023, 12:11 AM**

Quote:

Originally Posted by Gatorade_Jim

What diagrams are you referening?

The ones on this website

Philly Fan · #**369** Posted **Sep 3, 2023, 5:15 AM**

Quote:

Originally Posted by Gatorade_Jim

What diagrams are you referening?

Quote:

Originally Posted by Mr Saturn64

The ones on this website

https://skyscraperpage.com/diagrams/?cityID=326

mrnyc · #**370** Posted **Sep 4, 2023, 9:26 AM**

that is such an interesting development area around the railyards.

is there a master plan for around there? with other possible development sites? and any talk of caps maybe?

jaysb · #**371** Posted **Sep 4, 2023, 1:57 PM**

Quote:

Originally Posted by mrnyc

that is such an interesting development area around the railyards.

is there a master plan for around there? with other possible development sites? and any talk of caps maybe?

Indeed. There are two. Schuylkill Yards which is currently in progress (all of the buildings you see going up ) and a rail cap which is probably far off.

https://www.som.com/news/30th-street...yards-by-2050/

Gatorade_Jim · #**372** Posted **Sep 4, 2023, 9:47 PM**

Quote:

Originally Posted by jaysb

Indeed. There are two. Schuylkill Yards which is currently in progress (all of the buildings you see going up ) and a rail cap which is probably far off.

https://www.som.com/news/30th-street...yards-by-2050/

It's hard to look at that and not immediately think of River North in Chicago. Exciting times ahead.

PHLtoNYC · #**373** Posted **Sep 19, 2023, 10:43 PM**

Disappointing update (though not surprising), but sounds like Brandywine is committed to this project.

I wonder if Brandywine considered a hotel for a portion of the building.

Brandywine CEO Jerry Sweeney 'reading economic tea leaves,' won't build next Schuylkill Yards tower on spec
https://www.bizjournals.com/philadel...-3001-jfk.html

Philadelphia-based Brandywine (NYSE: BDN) is relaunching marketing efforts for its planned 800,000-square-foot East Tower at 3001 John F. Kennedy Blvd., but it's waiting to begin construction until the building is at least 50% pre-leased and the company has confidence in market conditions.

“Given its significant size, given the state of the overall U.S. economy, the volatility in interest rates and uncertainty in financing, we would not start that project without a significant pre-lease and visibility on both additional leases being signed and financing certainty,” Brandywine CEO Jerry Sweeney said, “because that project is simply too big for us to take on in this kind of climate.”
The 34-story building would include 550,000 square feet of office space and 250,000 square feet of life sciences space. Sweeney said marketing for the office space is geared toward financial services companies.

Waiting for lease commitments before beginning construction is a change from the first two buildings in the $3.5 billion, 14-acre Schuylkill Yards master-planned project that’s being developed in partnership with Drexel University. The first two buildings were built speculatively without tenants lined up in advance.

arkitect13 · #**374** Posted **Sep 20, 2023, 11:17 AM**

^^ I do think that at this point they should just switch to another use, Hotel and life sciences would be interesting. They keep waiting for an office teneant who probably isnt going to come

PHLtoNYC · #**375** Posted **Sep 20, 2023, 1:34 PM**

Quote:

Originally Posted by arkitect13

^^ I do think that at this point they should just switch to another use, Hotel and life sciences would be interesting. They keep waiting for an office teneant who probably isnt going to come

Agree. A hotel would do very well (combined with life sciences/research).
The location is great and quickly improving, thousands of workers and visitors in the immediate area, and a well connected spot via transit or highway access.

And Brandywine could convince Stephen Starr to open a cool restaurant concept.

Redddog · #**376** Posted **Sep 20, 2023, 2:39 PM**

Quote:

Originally Posted by Aether

... The city needs a new hotel

The city needs 3 new hotels.

DeltaNerd · #**377** Posted **Sep 20, 2023, 5:25 PM**

Quote:

Originally Posted by Redddog

The city needs 3 new hotels.

Hot take: If the 76ers place is going to be built. It should be a hotel and not affordable housing.

Knight Hospitaller · #**378** Posted **Sep 20, 2023, 6:01 PM**

Quote:

Originally Posted by Redddog

The city needs 3 new hotels.

And the rehab of the Family Court doesn't count, because it won't happen in time to meet immediate needs.

Knight Hospitaller · #**379** Posted **Sep 20, 2023, 6:08 PM**

Quote:

Originally Posted by PHLtoNYC

Agree. A hotel would do very well (combined with life sciences/research).
The location is great and quickly improving, thousands of workers and visitors in the immediate area, and a well connected spot via transit or highway access.

And Brandywine could convince Stephen Starr to open a cool restaurant concept.

A no brainer in a burgeoning U. City. The former Hilton/Penn Tower and Sheraton used to be the only games in that part of town. There are more options now, but positioned mainly to serve the universities. Having a hotel right next to 30Th St. Station, and across from the westward expansion of Center City, would serve a submarket with only one other option of which I'm aware (the a/k/a in the FMC tower - which is not remotely as well located at the JFK site).

TK2001 · #**380** Posted **Dec 15, 2023, 6:33 PM**

Just noticed something else on this site. There's a temporary building set up as the construction office for 3001 JFK