The University of Pennsylvania and Brandywine Realty Trust will announce plans today for a dramatic residential, commercial and hotel project on 30th Street. The 14-acre Cira Centre South project, which includes a 40- to 50-story office tower on Walnut Street and a 25- to 30-story residential tower on Chestnut Street, will be developed by a partnership of the university and Brandywine, which is based in Radnor. Penn president Amy Gutmann said in an interview yesterday that the project would help unite University City with Center City and provide a gleaming “Gateway to the University.” The post office conversion and construction of a 2,400-space parking garage will be the $365 million first phase of the project, to be completed by 2010. The office and residential towers will follow, to be completed by 2012 at a cost of about $400 million. [via the INQUIRER]
