Verizon Building and West Elm and Fayette RFP Update

As we reported earlier, there is a RFP for the development of the Verizon Building at Fayette and West 4th Avenue, plus two properties at West Elm and Fayette (the old fire house and the adjacent grass area).  Prospective bidders were allowed to tour the properties (minus the Verizon Building due to its contamination) on July 3rd.

Three developers took part in the tour, which was not mandatory.  The participating developers were Keystone Properties, Brandywine Realty Trust and Buccini/Pollin. All are major developers. As we have reported, Keystone has already made, at least, its initial intentions known with the Conshohocken One plan. Formal proposals are due on July 24th and just because they took the tour, does not mean they will submit a proposal.

It is a shame that they tied the development of all three properties together. By doing so it made it a project only for the big boys and smaller developers, who may have had other ideas on what to develop, were effectively shut out.

Stay tuned for the proposal(s) later in the month.