As a condition of the approvals it needs to start work on the decades-long office, retail and residential project, Brandywine Realty Trust has pledged to inflict a financial penalty on contractors who do not live up to its work-site diversity goals.
Sales of the offices at Two Liberty Place and of the Wanamaker Building also did not bring to Philadelphia and Pennsylvania the full transfer-tax proceeds. New rules that go into effect July 1 aim to close loopholes frequently employed - legally - in large commercial real estate transactions.
Members voted Thursday in favor of legislation establishing a framework for taking occupancy of the 18-story tower at 400 N. Broad St. after it is renovated for the department by its current owner, a subsidiary of developer Bart Blatstein's Tower Investments Inc.
The congressman's letter follows efforts by an advocacy group to draw attention to what it characterizes as the misallocation of public support to projects in already-developed neighborhoods at the expense of poorer communities.
Jacob Adelman covers property deals, retail trends and the hospitality business as the commercial real estate reporter.