 With financial backing from its partners and tax breaks for new residential construction passed in 2000, construction began on November 28, 2001.BACE Construction (Philadelphia based) was awarded the construction of the project.Philadelphia had not seen any residential high-rise development since the 1980s, and The St. James was one of the first to begin construction in the city, preceded only by the 16-story Residences at the Dockside, which broke ground in 2000.