"The Land Clearance for Redevelopment Authority approved a 25-year property tax abatement – 75% for 10 years, 37.5% for 15 years – last December. The city also will provide an annual subsidy for the garage."
Justification . . .
"The developer believes having the first new office project to be built downtown since the 1201 Walnut office tower was completed in 1991 will be well received in the marketplace."
Platform Ventures plans to begin work early next year on a 14-story office project at 13th and Wyandotte that's more than doubled in size since it was proposed 16 months ago. The office tower is now planned to be 152,000 square feet and would be built above a 409-space, six-level garage.