Comcast Center to become tallest skyscraper in fall 2007
Anthony Cesarini
Issue date: 8/19/05 Section: News
- Page 1 of 1
The 57-story Comcast Center is scheduled for completion for Fall 2007 making it the city's tallest building surpassing that of One Liberty Place.
Located at JFK Boulevard and 17th Street, the 975-foot Comcast Center will be 30 feet taller than One Liberty Place.
The Comcast Center is being developed by Liberty Property Trust, of Malvern, Pennsylvania. Liberty has invested approximately $460 million in the project and the Commonwealth has contributed about $30 million to the building's public aspects.
The foundation for the building is currently being poured as the ground has already been leveled. Construction began in January of this year and is expected to be completed in time for tenants to move in during fall 2007.
According to a press release from LPT, Comcast, one of the nation's leading providers of cable television services, has agreed to lease approximately 70 percent of the building's 1.25 million square feet of office space. The building also includes about 24,000 square feet of rentable retail space.
"Less than 30 percent of Comcast Center's office space remains available for lease," Senior Vice President of LPT John Gattuso said. "Interest in this space is very encouraging, and we are in active negotiations with several companies seeking to join Comcast in Philadelphia's new landmark. We are also very encouraged by the level of interest in the restaurant and retail component of the project."
"Our decision to build a new headquarter in Philadelphia is consistent with Comcast's unwavering 40-year commitment to Philadelphia and the Commonwealth of Pennsylvania," Comcast Chairman and CEO Brian Roberts said. "Comcast Center will enable us to efficiently operate our headquarters and include the latest technology in the building's infrastructure. Our new headquarters will also include new technology research and development labs, technology demonstration areas, training space for our employees, and a new headquarters for Comcast University."
The building will also include a public recreational park and a new entrance to Suburban Station. Some of the building's retail space will extend the Suburban Station underground concourse. In addition, there will be a 500-seat concourse-level food court and a 120-space private parking garage. The building's sustainable design puts it in contention for a Leadership in Energy and Environmental Design rating from the United States Green Building Council.
The building was designed by world-renowned architect Robert A.M. Stern and will be the largest commercial development project ever in Pennsylvania.
"Comcast is excited and proud to be part of this project," Comcast Executive Vice President David Cohen said. "Our company continues to grow and we have committed to locating much of our headquarters expansion here in Philadelphia. We have also further defined our future space needs since our initial lease announcement in January. This additional space will help us accommodate those needs."
Comcast has recently agreed to lease an additional 338,000 square feet in the Center and will occupy 39 floors of the building for at least 15 1⁄2 years according to the lease. Comcast has the option to lease an additional eight floors and request an additional 16 to 20-story building be constructed on the property.
Comcast is Pennsylvania's largest employer and one of three Fortune 100 companies in the state. Nationally, Comcast employs over 68,000 people and over 1,300 employees currently work in its Philadelphia headquarters located at Centre Square, 1500 Market Street.
Located at JFK Boulevard and 17th Street, the 975-foot Comcast Center will be 30 feet taller than One Liberty Place.
The Comcast Center is being developed by Liberty Property Trust, of Malvern, Pennsylvania. Liberty has invested approximately $460 million in the project and the Commonwealth has contributed about $30 million to the building's public aspects.
The foundation for the building is currently being poured as the ground has already been leveled. Construction began in January of this year and is expected to be completed in time for tenants to move in during fall 2007.
According to a press release from LPT, Comcast, one of the nation's leading providers of cable television services, has agreed to lease approximately 70 percent of the building's 1.25 million square feet of office space. The building also includes about 24,000 square feet of rentable retail space.
"Less than 30 percent of Comcast Center's office space remains available for lease," Senior Vice President of LPT John Gattuso said. "Interest in this space is very encouraging, and we are in active negotiations with several companies seeking to join Comcast in Philadelphia's new landmark. We are also very encouraged by the level of interest in the restaurant and retail component of the project."
"Our decision to build a new headquarter in Philadelphia is consistent with Comcast's unwavering 40-year commitment to Philadelphia and the Commonwealth of Pennsylvania," Comcast Chairman and CEO Brian Roberts said. "Comcast Center will enable us to efficiently operate our headquarters and include the latest technology in the building's infrastructure. Our new headquarters will also include new technology research and development labs, technology demonstration areas, training space for our employees, and a new headquarters for Comcast University."
The building will also include a public recreational park and a new entrance to Suburban Station. Some of the building's retail space will extend the Suburban Station underground concourse. In addition, there will be a 500-seat concourse-level food court and a 120-space private parking garage. The building's sustainable design puts it in contention for a Leadership in Energy and Environmental Design rating from the United States Green Building Council.
The building was designed by world-renowned architect Robert A.M. Stern and will be the largest commercial development project ever in Pennsylvania.
"Comcast is excited and proud to be part of this project," Comcast Executive Vice President David Cohen said. "Our company continues to grow and we have committed to locating much of our headquarters expansion here in Philadelphia. We have also further defined our future space needs since our initial lease announcement in January. This additional space will help us accommodate those needs."
Comcast has recently agreed to lease an additional 338,000 square feet in the Center and will occupy 39 floors of the building for at least 15 1⁄2 years according to the lease. Comcast has the option to lease an additional eight floors and request an additional 16 to 20-story building be constructed on the property.
Comcast is Pennsylvania's largest employer and one of three Fortune 100 companies in the state. Nationally, Comcast employs over 68,000 people and over 1,300 employees currently work in its Philadelphia headquarters located at Centre Square, 1500 Market Street.
Viewing Comments 1 - 1 of 1
Darren Warner
posted 9/17/07 @ 2:22 PM EST
I am a former resident of Philadelphia, I currently live in Central PA,a town called Altoona. I just wanted to take a moment to say that Philadelphia is a georgeous city, and this Comcast Center just adds to its cosmetic appeal. (Continued…)
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