Construction of the $400-million project in general, and the support of tax breaks from the city and state in particular, have riled Center City office owners. More than two dozen of them coalesced to combat the project on two grounds: that the building's existence would increase vacancy and depress rental rates in Downtown buildings, and tax breaks represent an unfair advantage to a single building and/or tenant.

As a result, arguments in the state legislature over the provision of tax breaks stalled development throughout the summer as projected construction costs and interest rates rose. In July, the state senate approved establishing an Economic Development District at the site, which offers less generous breaks than the previously proposed Keystone Opportunity Improvement Zone. State representatives recessed for summer without acting on the Senate bill and have yet to address it.

Hankowsky listed the EDD legislation among his three hurdles. The others are "completion of a transaction between us and Comcast [which is expected to take half the space]," and "the need to finalize the building's design, size and construction cost," Hankowsky said. Asked if there was a point at which the project would become "diseconomic," he said. "We're committed to making a good economic decision. It's conceivable that the lines we're following will begin to look like they won't cross," he conceded, "but, for now, they continue to look like they will." According to published reports, Liberty has already invested more than $65 million in the project, including land-acquisition, infrastructure development, and legal fees.