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  #21  
Old Posted Jul 3, 2019, 5:10 PM
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SEFTA SEFTA is offline
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2000 Arch Street

2000 Arch Street 2
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  #22  
Old Posted Jul 6, 2019, 12:45 AM
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From the highrise thread

Quote:
Originally Posted by Boku View Post
Chubb, courted by developers, considers new Center City office tower


Quote:
Parkway Corp. and Brandywine Realty Trust are chasing Chubb, the giant insurance company, as a tenant to kick off a new office tower.

Chubb now has its offices in space at 436 Walnut St. in the Old City neighborhood of Philadelphia. It is in the market looking for about 400,000 square feet of space to consolidate its locations and provide it with new, contemporary offices. In 2004, what was then Ace Ltd. paid $22 million to buy 360 Walnut, a 361,000-square-foot building for its new headquarters, and moved out of Two Liberty Place. It also occupies about 140,000 square feet in One Washington Square, which is next door.

In early 2016, Ace completed a $29.5 billion acquisition of fellow property and casualty insurance carrier Chubb and immediately took on the Chubb (NYSE: CB) name. It is the world’s largest publicly traded property and casualty insurer with a market capitalization of $51.2 billion, annual gross written premiums of $37 billion and total assets of about $150 billion. The company has 30,000 employees in 54 countries worldwide and its principal executive offices are in Zurich, Switzerland. Though it maintains offices in other parts of the United States, such as Wilmington Del., and Whitehorse Station, N.J., it largest group of U.S. employees is based at Chubb's Walnut Street offices in Philadelphia.

Parkway is marketing a site at 20th and Arch streets in Center City where it would build a roughly 400,000-square-foot office tower for Chubb, according to sources. Parkway declined to comment. Brandywine Realty has been marketing its Schuylkill Yards development in University City to prospective tenants including Chubb, according to people familiar with the situation. A representative from Brandywine (NYSE: BDN) couldn’t be immediately reached for comment.

Another option for Chubb would be to stay where it is located. The company wouldn’t comment on its search for new space or the possibility of locating in a building that would be constructed for it. “Chubb is always looking at our real estate options to meet our needs, but we have nothing to report at this time,” the company said in an email.

If Chubb decides to have a new building developed for the company, it could mean the possibility of two new office buildings coming out of the ground around the same time in Philadelphia, which is rare for the city. The other prospective office building that could get underway is at 2222 Market St., which is under consideration by Morgan Lewis. Parkway is also proposing to develop that building.
https://www.bizjournals.com/philadel...ew-center.html
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  #23  
Old Posted Nov 16, 2019, 3:29 AM
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It's been crickets lately on this one. Anyone know anything more recent about Chubb/Ace potentially locating its HQ here?
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  #24  
Old Posted Nov 19, 2019, 10:28 AM
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My only gripe is that it's not taller (300-400 ft), but it is a nice infill building.
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  #25  
Old Posted Nov 22, 2019, 7:16 PM
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Update on this. Looks like Tenant is from out of state:

Quote:
2000 Arch Street, Parkway Corporation. Robert Zirinsky presenting. Parkway Corporation has a 47 year history in Philadelphia and has 450 employees. This development (a LEED Platinum project) presents a once in a lifetime opportunity. They propose to build an office building for a single tenant who will commit to a 20 year lease. Parkway has held four meetings with near neighbors. The property (the old Avis parking lot) is zoned CMX 4. Parkway needs an-ordinance (not a variance) for an overlay height restriction relief. The historic gas station along 20th Street will be restored, relocated and funded for future maintenance. The new tenant is an out of state corporation; they are asking for no relief for existing signage restrictions. Parkway has entered into an agreement with Walden Walk as of today, to provide them amongst other things a private, funded, buffer outdoor space. They will continue to “mature our design process”. Renderings of the green wall, sky plane (step back) as of right, mechanical shields on top and sight visual impacts on adjacent buildings (Kennedy House) were shown. Numerous questions were asked about construction and delivery hours, solar shade studies and the impact on near by buildings (sight lines). Parkway noted that it will provide constant access (phone numbers) for near neighbors to address construction related issues (no deliveries between 10 pm and 5 am) and that it will enter into an NDA with LSNA. Construction is expected to take 14 months.
https://docs.google.com/viewer?a=v&p...mNlMzIyZjgzNjI
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  #26  
Old Posted Nov 22, 2019, 7:33 PM
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^ Magical words those be: "out of state" tenant.
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  #27  
Old Posted Nov 22, 2019, 7:44 PM
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And more:

Quote:
2000 Arch Street
Four Near Neighbor meetings have been held on this project including participation from Walden Walk most immediate near neighbors), Kennedy House and, Penn Center House. The proposed development includes an
approximately 15-story 260’ tall building at the southwest corner of 20th and Arch on what is known as the old Avis Lot. Near neighbor concerns include size and scale of the building that will block view and light to which subsequent presentations included modifications including an 8’-0” setback off the west property line, a vegetated green wall, and respect of the sky plane design controls on the street side. The applicant - Parkway Corporation, the property owner who is scouting potential sites for a single-occupant corporate headquarters - is proposing a City Council-sponsored ordinance to extend the height beyond 125’ parkway overlay and rely on the in-place CMX-4 status for height/bulk restrictions, however without proposing a build out to the full extents CMX-4 will allow. As stated earlier, it is the PDC's position that we would prefer that their objectives be approached through a variance request rather than through an ordinance. That is because in the ensuring variance request dialogue, the neighborhood would retain a voice on design elements and project scale close to the actual execution of the project. With a city council ordinance, the proposal becomes an 'of right' project and the neighborhood needn't be consulted
other than through the CDR process. At the time of the PDC meeting, prior to meetings with Kennedy House & Penn Center House, it was the committee's position to defer recommendations till after all near neighbors’ meetings were complete. Although it was noted that the neighbors at Walden Walk had not voiced strong objection to the project and appeared mollified by design changes on the wall that would most adjoin their complex.
https://docs.google.com/viewer?a=v&p...mNlMzIyZjgzNjI
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  #28  
Old Posted Nov 22, 2019, 8:06 PM
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Maybe a stupid question, but wasn't this designed specifically for Chubb and their space needs? Did somebody make a better offer or something?
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  #29  
Old Posted Nov 22, 2019, 8:13 PM
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Quote:
Originally Posted by Milksteak View Post
Maybe a stupid question, but wasn't this designed specifically for Chubb and their space needs? Did somebody make a better offer or something?
According to a few places Chubb's official US HQ is in Jersey - I wonder if they'd designate PHL as the Official US HQ - thus selling it as an "out of state tenant"? Is that possible?
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  #30  
Old Posted Nov 22, 2019, 8:16 PM
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I think this is an under achiever being that it is in the Central Business District of the city.
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  #31  
Old Posted Nov 22, 2019, 8:18 PM
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Quote:
Originally Posted by SJPhillyBoy View Post
I think this is an under achiever being that it is in the Central Business District of the city.
Strict height limits in Logan Square (which is the neighborhood this is in. Read the excerpts I posted above. They were pushing back against a 15-story building. Something of this height is going to have to be built here, then something taller over the train tracks along JFK.
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  #32  
Old Posted Nov 22, 2019, 8:54 PM
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Quote:
Originally Posted by Londonee View Post
According to a few places Chubb's official US HQ is in Jersey - I wonder if they'd designate PHL as the Official US HQ - thus selling it as an "out of state tenant"? Is that possible?
Yea I'm still not convinced it isn't Chubb.
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  #33  
Old Posted Nov 23, 2019, 1:08 PM
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Quote:
Originally Posted by wanderer34 View Post
My only gripe is that it's not taller (300-400 ft), but it is a nice infill building.
Agree, this thing underperforms. It's better than a surface lot, but it definitely wants to be taller.
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  #34  
Old Posted Nov 23, 2019, 3:20 PM
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Wow! That’s impressive. I’ve not been super into some of the developments in Philly lately, but this one is really sharp looking. It’s going to be a little different for this community, but I think it’s a good change. Maybe this is a sign of modernization in this part of the city? Hope so!
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