Stein says the company has acquired a 3.5-acre riverfront parcelat 900 N. Delaware Ave. in Northern Liberties for nearly $30million. "It has a one-acre parking lot and industrial buildingsthat are now about 70% leased," he says. Groundbreaking isscheduled for this November, with delivery in 2010.

The developer entity, 2945 PDI LLC, is backed by a Northern NewJersey-based investor group, which Stein tells GlobeSt.com, "hasprojects in England, Gibraltar, Miami and Israel." Withoutidentifying the group's members, he says, "they seek projects thathave value; Philadelphia is in their sights, and they see this asan iconic addition to the city."

Although the design is not fully complete, he tells GlobeSt.comit will include 80,000 sf of restaurants and retail on the firsttwo floors, a 250-room boutique hotel up to the 15th floor, toppedby approximately 700 residential condos. Off the 15th floor therewill be an amenity deck, which Stein says, "will be a club, sharedby residents, hotel guests and open to membership by neighborhoodresidents," a feature worked out in discussions with thecommunity.