PHILADELPHIA-The developers of the American Commerce Center, aproposed 1,500-foot giant that would be the tallestbuilding in the United States if completed before One World TradeCenter in New York City, say the project isn't dead."It's still in the works, and it'll be in the works until we findan anchor tenant," Garrett Miller, a partner of the HillOpportunity Real Estate Fund told Philly.com's Joseph DiStefano.

Our own Philly 411 columnist, David Jacobs, said in May thatthere were rumors that a proposedhotel might get scrapped and the 1800 Arch St. development couldshrink in height. The site is currently a parkinglot.

Meanwhile, DiStefano reports that the people at Hill are raising$100 million to buy land at cheap prices. They expect to close adeal in three to six months.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.