Binswanger/CBB Opens New Doors for Community College of Philadelphia.Business Editors PHILADELPHIA--(BUSINESS WIRE)--Feb. 4, 2003 Just thirteen months after breaking ground, Binswanger/CBB's Project Management Division has the first students walking into Community College of Philadelphia's state-of-the-art Center for Business and Industry (CBI CBI abbr. cumulative book index CBI Confederation of British Industry CBI n abbr (= Confederation of British Industry) → C.E.O.E. ) right on schedule. Serving as developer for the project, Binswanger/CBB strategically united public and private sectors behind this public building project, effectively reducing the construction timeframe by nearly a year with significant cost savings. The unique partnership established between Binswanger/CBB and the Community College of Philadelphia About CCP '''Community College of Philadelphia is a community college in Philadelphia, Pennsylvania. The main campus is located at 1700 Spring Garden Street. Community College of Philadelphia is an open-admission, Associate degree granting institution with more than 70 underpinned the success of the entire project. In the past, the college has directly handled its own construction projects, but extenuating circumstances Facts surrounding the commission of a crime that work to mitigate or lessen it. Extenuating circumstances render a crime less evil or reprehensible. They do not lower the degree of an offense, although they might reduce the punishment imposed. made this project particularly difficult. Lease terms on the space housing the programs intended for the new building exerted significant pressure on the completion date, which was further compounded by the fact that the college did not own the land on which it intended to build. Early estimates saw the project stretching an entire year beyond the deadline imposed by the expiring lease. Binswanger/CBB's Project Management Division, by way of introducing a wide range of professional expertise, strategically managed a development schedule within the allotted al·lot tr.v. al·lot·ted, al·lot·ting, al·lots 1. To parcel out; distribute or apportion: allotting land to homesteaders; allot blame. 2. timeframe and generated construction costs lower than Community College of Philadelphia's anticipated budget, while still maintaining superior construction quality. Working closely with INTECH INTECH Institute for New Technologies Construction and the Redevelopment Authority Noun 1. redevelopment authority - a public administrative unit given responsibility for the renovation of blighted urban areas administrative body, administrative unit - a unit with administrative responsibilities , Binswanger/CBB's Project Management Division achieved 25 percent MBE MBE (in Britain) Member of the Order of the British Empire MBE n abbr (BRIT) (= Member of the Order of the British Empire) → título ceremonial MBE n abbr (Brit) (= WBE WBE Women's Business Enterprise WBE Women-owned Business Enterprises WBE Woman-owned Business Enterprise WBE Web-Based Education WBE Welch-Bound-Equality WBE World Business Exchange WBE Warner Bros. participation on the project. The project was designed by Cope Linder Architects of Philadelphia. Ultimately, Binswanger/CBB was able to devise a cost effective model for Community College of Philadelphia and facilitated tax-exempt financing. A collaborative effort between Community College of Philadelphia underwriters, governing authorities and Binswanger/CBB financed the land acquisition and building construction with a 20-year tax-exempt bond Tax-exempt bond A bond usually issued by municipal, county, or state governments whose interest payments are not subject to federal and, in some cases, state and local income tax. tax-exempt bond See municipal bond. issued through the Hospitals and Higher Education Facilities Authority of Philadelphia. By leveraging its professional knowledge, Binswanger/CBB was able to significantly shortened the time for critical tasks such as the acquisition of permits and zoning approvals that also contributed to the building's timely completion. The unique pairing of public financing with private development produced the greatest possible outcome not only for the Community College of Philadelphia but for the thousands of future students set to benefit from the outstanding new facility. Headquartered in Philadelphia, PA, Binswanger/CBB is a founder of Chesterton Blumenauer Binswanger, an international, full-service real estate organization with over 160 offices worldwide throughout the U.S.A., Canada, Mexico and South America, the U.K. and Europe, the Middle East, Asia, South Africa and Australia. |
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