|Philadelphia skyline with the addition of CITC|
All I have to say about this is ... wow.When the news hit on Wednesday
I was literally shocked; as I pride myself on keeping up with the local
Philadelphia development scene. Although, I am not a professional
blogger or journalist; it's more of a hobby for me.
Not only was Comcast able to keep the details of such a large project
completely hush-hush, but they really outdid themselves with its
location, design, and overall utilization. Rumors had been circulating
, via local photo-blogging expert Bradley Maule
, but the specifics were non-existent.So, what does this building mean for Philadelphia?
IMHO, a lot.
But before I get into why I think this project is an amazing step
forward for our great city, along with having impeccable timing, I'm
going to lean on my pal Liz Spikol
for the project details.
Here you go (thanks for taking the time, Liz
- 1,121 ft tall, or 59 stories
- 13 floors for a Four Seasons Hotel, with 200 rooms
- 2,682 sq ft of retail space
- An extension of the underground SEPTA concourse by one block
- Exterior glass elevator
- Shared workspace environment for 4,000 employees
- Tallest building in the US, outside of NYC and Chicago
- $1.2B project cost, with both private investment and grants from the city/commonwealth
- 1.517M sq ft
- Block-long lobby
- 2 restaurants
- Fitness facilities
- Public reception space
: 80% Comcast, 20% Liberty
- LEED platinum certification (hopefully)
- $30.7M in annual commonwealth tax revenue
- $21.5M in annual city tax revenue
- 2,800 new/permanent jobs within the city
- 20,000+ temporary jobs
- Targeted completion date
Yooo ... seriously
Before we get into some of my own thoughts/opinions, check out the video below for a well-done virtual tour.
That is one awesome project, and it will be the tallest building to-date in Philadelphia.
When the Comcast Center
was built/completed back in June 2008
it was a huge statement for our fair city. It meant that our local,
urban economy could still support an HQ for a company as big as Comcast;
considering they were also looking at their options in NYC (which
almost went the way of Verizon back in 1996).
This development also meant that our downtown was about to change.
|Comcast Center | Center City, Philadelphia|
And it did.
These days, especially with the next real estate wave right in front of
us, Center City is booming. New restaurants, new shops, new museums, new
apartments, new buildings, new companies, new events, and lots of new
people. Center City Philadelphia is considered to be the 3rd most populous downtown in the US
(again, behind NYC and Chicago), and it's the heartbeat of Philadelphia's resurgence as a world-class city.
Okay, that's enough history. Now for the fun stuff.
As a blogger, I am of the opinion that my role is to not only find
interesting news that others might enjoy, but also to provide
constructive criticism based on what I read. If I didn't include the
latter, all I would need to do is copy/paste links.
But where's the fun in that, right
So if you happen to be a regular reader (and please know that I
appreciate all of you), you know that I typically break down
Philadelphia news into small pieces in order make your reading more
simple and enjoyable.
Here we go...
There are 3 main/general reasons why I feel that not only is the new Comcast building a game-changer for Philadelphia as a city
, but also why I really like the project myself:
1. Location, Location, Location
: The 3 most important words in
real estate could not be more relevant when discussing the Comcast
Innovation + Technology Center (CITC
, as it's been dubbed already). First, the building is just across the street from the existing Comcast Center; smart move
. Second, the location allows for an extension of the underground concourse to Suburban Station; good thinking
And third, it's located in the middle of Philadelphia's business
district, which helps create synergy among those who already work in the
area while adding appropriately to our ever-changing, dense skyline; bravo
2. Lots of permanent jobs, which can easily translate into additional jobs
Most of what I have seen thus far has stated that the new CITC will
create 1,500 permanent jobs, but that's just the start. Not only will
this project solidify Philadelphia's reputation as one of the world's
leading cities for media innovation, but it helps provide a base for all
of the recent smaller, start-up companies that also call Philadelphia
home. This is where additional jobs could be created, through incubation
and collaboration with one of the largest companies in the world.
3. It's Comcast
: I know the title of this last one may shock you,
but it's important. From a customer service standpoint, Comcast is
known to have a less-than-stellar reputation; I can also attest to
that, as I am a current customer myself (sorry, Comcast). However, the
acquisition of NBC Universal has literally "electro-shocked Comcast back into coherence
(as once quoted by George Costanza). In other words, Comcast is now
considered the largest mass media and communications company in the
world. With Comcast committed to taking at least 75% of the space at
CITC, it creates a huge presence for the media giant and allows others
to feed off of that energy. That is why having a large company (like
Comcast) associated with this project is so important, as opposed to
just having a developer propose the building without having tenants in
, and there you have it. My two cents on a platter.Comcast's Innovation + Technology Center
is going to redefine Center City Philadelphia in the years to come, and
it has the potential to redefine our entire region on a global scale.
Here are some helpful links to read up further on the subject:Comcast to construct $1.2B skyscraperComcast officially confirms skyscraperTalking CITC with John GattusoComcast seeks to redefine PhiladelphiaLook inside the new Comcast towerRenderings of Comcast's new skyscraper