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Comcast Plans $1.2 Billion, 59-Story, Innovation And Technology Tower In Downtown Philadelphia
Area Development Online News Desk (01/16/2014)
Comcast Corporation and Liberty Property Trust will develop the 59-story, $1.2 billion, Comcast Innovation and Technology Tower in Center City Philadelphia, Pennsylvania. The mixed-use tower is expected to be the one of the tallest buildings on the East Coast.

Governor Tom Corbett’s Office said the tower “will become the dedicated home for the company’s growing workforce of technologists, engineers and software architects.”

“We are thrilled to mark another historic moment in our company’s history in Pennsylvania with the development of the Comcast Innovation and Technology Center,” said Brian L. Roberts, Chairman and CEO of Comcast Corporation. “This expansion of Comcast’s vertical campus in Philadelphia will create tens of thousands of jobs and drive billions of dollars in economic development in the Commonwealth and the City. This exciting project would not be possible without the support of the Commonwealth and Governor Corbett, who is a true and committed partner in driving Pennsylvania’s growth.”

Designed by world-renowned architect Lord Norman Foster of Foster + Partners, the glass and stainless steel tower will complement Comcast Center as a new energetic dimension to Center City. The project will include a Four Seasons hotel and a block-long lobby with a glass-enclosed public indoor plaza accompaniment to Comcast Center’s existing, dynamic outdoor plaza. The lobby will feature a restaurant and a new concourse that will provide direct connections with SEPTA’s Suburban Station, enhancing accessibility and providing new options for commuters.

“Comcast has chosen to make with this project will have a strong impact throughout the region,” said Corbett. “The commonwealth’s partnership with Comcast will create more than 20,000 direct and indirect jobs during construction, at least 1,500 new Comcast positions, and energize Philadelphia’s Center City. I believe that it is our people – their creativity, ingenuity, talents and skills – who drive companies like Comcast to make Pennsylvania home.”

“The ‘Comcast Innovation and Technology Center’ will generate $2.75 billion in total economic impact within Pennsylvania and support more than 20,000 direct and indirect jobs during the construction phase. The direct and indirect ongoing impact is projected to create nearly 4,000 permanent jobs in Pennsylvania,” state economic development officials said.

“This entertainment and innovation complex elevates downtown Philadelphia’s strong reputation as a world-class destination for culture and connection,” Corbett said. “We're investing in public spaces where visitors and Pennsylvanians alike can marvel at our world-class art, our incomparable architecture and our unique attractions. This project is not only about building a new tower on Philadelphia’s skyline, or about creating new and beautiful public spaces in Center City. This project shows that Philadelphia is taking a bite out of the ‘Big Apple’ and we are ready to compete with anyone in the world to bring jobs to Pennsylvania.”

The commonwealth will provide up to $30 million in grants to be disbursed over multiple years and $4.5 million in job creation tax credits to support the $1.2 billion project. The grants must be directed to costs associated to the public improvement aspects of the project. This includes the plaza area, and upgrades and direct connection to Suburban Station, and the widening of sidewalks and roads which will improve access to the area for all Philadelphians.

 
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