Saturday, July 4, 2015

Cira Centre South Project Moves Forward

The Cira Centre South, a proposed office tower near the Cira Centre next to 30th Street Station along the western banks of the Schuylkill River, took a step forward today with support from City Council's Committee on Finance to extend tax benefits for developers by seven years.

Cira Centre South Project Moves Forward

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This artist´s rendering shows the Post Office redevelopment area, anchored by Cira Center South. Rendering provided by Brandywine Realty Trust.
An artist's rendering of The Cira Centre South.

The Cira Centre South, a proposed office tower near the Cira Centre next to 30th Street Station along the western banks of the Schuylkill River, took a step forward today with support from City Council's Committee on Finance to extend tax benefits for developers by seven years.  The committee voted to support legislation that would extend the Keystone Opportunity Zone benefits to 2025.  That move needs approval in Harrisburg.

Mayor Nutter supports the plan. "It's an incredible opportunity for the city to bring net new jobs to Philadelphia," Nutter said of the committee's vote. "We're going to do our part. Hopefully the state will take action as well."

Two Center City landlords sent a letter to Council, objecting to the extension of the KOZ, but did not testify during yesterday's hearing against the plan.  Some Center City landlords previously objected to granting KOZ benefits to the Cira Centre.  Both projects are being overseen by the Brandywine Realty Trust.

City Councilman Jim Kenney took note of the lack of opposition at the hearing, saying that in previous years it could have easily turned into a "day-long embarrassment" with people protesting the project. Kenney recalled the tone of opposition to the Cira Centre legislation. "We don't have the sky is falling complaints in here today that we had then," Kenney said.

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William Bender, a Drexel graduate who landed at the Daily News in 2007, has covered everything from South Philly mobsters to doomsday hucksters. He occasionally writes about local food trucks and always eats everything on his plate, whether it be a bloody rib eye or a corrupt politician. E-mail tips to benderw@phillynews.com
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David Gambacorta, has been a reporter with the Daily News since 2005, covering crime, police corruption and all of the other bizarre things that happen in Philadelphia. Now he’s covering the 2015 mayor’s race, because he enjoys a good circus just as much as the next guy. He’s always looking to get a cup of coffee. Send news tips and other musings on life to gambacd@phillynews.com
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