IBM Campus In Play For Austin's Amazon Proposal
Brandywine Realty Trust's pitch to convert IBM's Broadmoor campus into Amazon's second headquarters appeared and just as quickly disappeared on Tuesday.
The proposal, "Amazon HQ2: The Brandywine Difference," pitched both Austin and Schuylkill Yards in Philadelphia as ideal sites for Amazon. Touted as a supplement to the city proposals of Philadelphia and Austin, the pitch promises "two cities, one solution."
The original IBM campus in North Austin was subdivided to create what is now The Domain. Brandywine purchased the Broadmoor campus from IBM in 2015.
The proposal, which is now locked down online, was first reported in the Austin and Philadelphia business journals. Broadmoor is described as a "66-acre campus uniquely positioned as a virtual perfect match for Amazon HQ2 — a transit-oriented, mixed-use project with an extraordinary existing amenity base of The Domain, Austin's '2nd Downtown.'"
Broadmoor is entitled to 8.2M SF of constructed space but could potentially be expanded by another 20M SF, according to the brochure quoted in the Austin Business Journal. Brandywine Realty Trust serves as master developer on the redevelopment of the Schuylkill Yards property, which broke ground Wednesday in partnership with Drexel University. The 14-acre property in West Philadelphia, next to Amtrak's 30th Street Station, would ultimately be home to about 7M SF of mixed-use development. The $3.5B project is advertised as an "innovation hub."
Pennsylvania has put up $1B in incentives to lure Amazon to Philadelphia. Philadelphia leaders are pitching three sites: Schuylkill Yards, uCity Square and the Navy Yards in South Philly.