Comcast is working on a plan that will significantly alter the skyline of its home city of Philadelphia and will create one of the nation’s tallest buildings. Bloomberg reports that the company will build a $1.2 billion, 59-story office building that will stand next to Comcast’s Philadelphia headquarters.
Comcast will start the Comcast Innovation and Technology Center at midyear with the goal of finishing by 2017. The building will also include a Four Seasons hotel. Comcast is partnering with building firm Liberty Property Trust in the project.
At 1,121 feet, the building will be the tallest in the U.S. outside of New York and Chicago. "The current tallest building outside New York and Chicago is the U.S. Bank Tower in Los Angeles, at 1,018 feet, according to the Council on Tall Buildings and Urban Habitat’s Skyscraper Center website," the story reports.
The project "will be built on the 1800 block of Arch Street in the Center City district of downtown Philadelphia," Bloomberg reports. "It will be the largest private development in Pennsylvania history, Comcast and Liberty said. The glass-and-stainless-steel building was designed by British architect Norman Foster and will include loft-life spaces."
The report adds: "Comcast plans to sign a 20-year lease for at least 957,000 square feet (89,000 square meters), or about 75 percent of the Philadelphia building’s rentable office space. The company will hold 80 percent of the joint venture that will own the tower, with Liberty holding the rest and managing the property."
The new building will also be the headquarters for local TV stations NBC 10/WCAU and Telemundo 62/WWSI.