By: Natalie Kostelni
Cohen Seglias Partner Ed Seglias was interviewed for the Philadelphia Business Journal article, “‘It’s Always Darkest Before the Dawn’: Local Developers Work to Construct a Path Forward,” by Natalie Kostelni.
Until a week ago, Dranoff Properties’ $253 million Arthaus condominium development on South Broad Street in Philadelphia had a full work crew on site building the 47-story tower. Not anymore.
But farther down South Broad at the Philadelphia Navy Yard, construction of Iovance Biotherapeutics Inc.’s $125 million, 136,000-square-foot manufacturing and research facility continues. It remains on budget and on schedule for the company to move in next spring.
Unlike most construction projects, including the Arthaus development, that have come to a standstill following Gov. Tom Wolf’s order to shut down projects in progress deemed nonessential during the ongoing coronavirus crisis, the development underway at 300 Rouse Blvd. at the Navy Yard has received an exemption from Pennsylvania that allows work to continue. In this case, the Iovance facility will eventually be used for the research and manufacturing of cell-gene therapies that treat cancer and, like other health-related projects, is permitted to move forward despite the governor’s decree.