Comcast Building Even Bigger Philadelphia Skyscraper for $1.2B

Comcast Corporation and Liberty Property Trust announced this week that they will be jointly developing a new $1.2 billion 59-story tower across the street from the Comcast Center, the current tallest building in Pennsylvania and global headquarters for Comcast Corporation. The new 1,121-foot tower on the 1800 block of Arch Street in Center City Philadelphia will stand nearly 150 feet higher than Comcast Center and become a dedicated home for the company's "growing workforce of technologists, engineers, and software architects," as well as the base of operations of local broadcast television stations NBC 10/WCAU and Telemundo 62/WWSI.

"This is yet another historic moment for Comcast," said Brian Roberts, Chairman and CEO, Comcast Corporation. "We continue to be proud to call Philadelphia our home, and are thrilled to build a world-class media, technology and innovation center right in the heart of the City, to bring NBC 10 and Telemundo 62 downtown, and to create thousands of jobs and further drive economic activity in the region. We have assembled an incredible design and development team to expand our vertical campus, and I am more excited than ever about the future of Comcast in Philadelphia."

Liberty Property Trust Chairman and CEO William Hankowsky said, "Liberty is thrilled to again have the opportunity to develop a transformative project for the city of Philadelphia, a project that will significantly contribute to the continuing renaissance of Center City as a forward-looking yet uniquely livable urban environment."

Designed by Lord Norman Foster of Foster + Partners, the 1.517 million rentable square foot project will include a new Four Seasons hotel and a block-long lobby with a glass-enclosed indoor plaza accompaniment to Comcast Center's existing outdoor plaza. The new mixed-use tower is expected to be the tallest building in the United States outside of New York and Chicago and will be the largest private development project in the history of Pennsylvania.

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