Construction work begins on Comcast Innovation & Technology Center in Philadelphia - infrabuddy.com

Construction work begins on Comcast Innovation & Technology Center in Philadelphia

Liberty property Trust, a US based real estate firm and Comcast in partnership has commenced the construction work on the $1.2bn Comcast Innovation and Technology centre.

This 59 –storey building would be the Philadelphia’s largest sky scraper on the 1800 block of Arch Street with 1.334 million sq feet of rentable office space and 222 rooms Four Season Hotel. 

The agreement has been signed for the 20 year lease for 982,275ft², or approximately 74% of the office spaces, where the 80 % of the Comcast will be managed by Liberty Property Trust holding 20 % interest. 

The project cost estimated to approximately $933m,of which $40m represents public assistance in the form of grants from the Commonwealth of Pennsylvania and the City of Philadelphia for funding of infrastructure improvements and public spaces. 

The project is likely to be completed by the first quarter of 2018. 

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