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PHOENIX: NOT JUST A PRETTY FACADE
-Erin Young
Philadelphia Daily News
The newly converted Phoenix apartment building is more than just a pretty façade.
In addition to the luxury apartments carved out of the 1925 building, developer and owner Dan Keating, III included 48,000 square feet of office space on the second and third floors.
The lobby level on the 16 th Street side will boast two restaurants, Tir Na Nog, an Irish-American themed eatery, and a still-to-be chosen less formal coffee bar. Both will open this Fall.
One prospective tenant for the office space is Keating’s own firm.
Keating likes the majestic building so well that he is considering moving his company headquarters from Bala Cynwyd.
Keating Development employs from 160 to 400 people, depending on the number of projects the firm has underway. Keating said he has discussed the move with city officials.
The biggest obstacle is designing an office plan flexible enough to shrink or grow with the company’s needs, he said.
City Commerce Director James Cuorato said the city is willing to arrange low-interest financing to help Keating outfit the space on the Phoenix’s third floor as required.
“Obviously anytime we can get a company to move into the city like that we do what we can,” Cuorato said.
Although he is concerned by some of the Philadelphia business taxes, Keating said he hopes they can be addressed in negotiations with the city.
Keating is one of two Bala-based firms considering a move into Philadelphia.
American Business Financial Services, with 1,000 employees, has been negotiating a possible move to the Wanamaker Building across from City Hall for several months.