We now know who owns those 45th-floor condos: Comcast’s chief honcho.
The one thing Natalie Kostelni, the Philadelphia Business Journal’s ace real estate reporter, couldn’t find out when she broke the news (paywall) that the new Comcast Technology Center will have three condominium residences this past Monday was the actual identity of the buyer of the units.
The Philadelphia Inquirer now has that information.
Jacob Adelman reports that the buyer is Comcast CEO Brian Roberts and his wife Aileen.
The report also cites an interview with Comcast Senior Executive Vice President David Cohen, in which he says that the units will be Four Seasons Residences, managed by the Four Seasons Hotel that will occupy the building’s top floors.
But will the Robertses live in one of the condos? Read more »
The Comcast Technology Center, shown here in a skyline rendering, will have residents on its 45th floor.
In addition to 1.33 million square feet of office space, a luxury hotel and street-level retail space, the new Comcast Technology Center now under construction at 18th and Arch streets will have something else:
Full-time permanent residents in three luxury condominium units.
The Philadelphia Business Journal reports (paywall) that public records show developer Liberty Property Trust selling three residential units, identified as “RU-1,” “RU-2” and “RU-3,” to a limited liability corporation, FSP Realty. Read more »
View of the Camden Waterfront from the Delaware River | © Volley for Robert A.M. Stern Architects
The New Jersey Economic Development Authority signed off on Liberty Property Trust’s ambitious $1 billion plan to redesign the Camden waterfront last week after Liberty made some revisions and upgrades.
According to Greg Adomaitis at NJ.com, the plan’s cost has been trimmed to $830 million. Instead of the 1,638 residences that were first proposed, there will now be only 211. There are also now roughly 4,000 parking spaces in the plan.
There has also been a series of changes to the design of the massive development, which will now extend from the Ben Franklin Bridge to Market Street and encompass 26 acres. In addition to the extension of Market, Cooper and Penn streets to the river’s edge, two new north-south streets will be created that will form the boundaries for a mid-rise commercial building. Cooper Street will also be widened to help develop walkways.
According to the new plan, there will also be a shuttle service serving the development, City Hall and the Walter Rand Transportation Center, and there will also be a ferry stop connecting the Wiggins Park ferry terminal with Philadelphia.
A rendering of 351 Rouse Blvd. in the Navy Yard | Adaptimmune Therapeutics plc
The boom at the Navy Yard continues to thunder on, as Liberty Property Trust, the Philadelphia Industrial Development Corporation and Synterra Partners officially unveiled their plans for the 16th development inside the dynamic, and ever-growing urban office park.
Adaptimmune, a clincial stage biopharmaceutical company that specializes on the use T-cell therapy to treat cancer, will use the new 47,400-square-foot facility located at 351 Rouse Boulevard as its U.S. headquarters. The LEED certified building will overlook the new Central Green fun/exercise park and is expected to be delivered sometime in late 2016.
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Waterfront View of the Camden Waterfront – copyright Volley for Robert A.M. Stern Architects
You know what’s cool? A billion dollars.
The famous line from The Social Network seems apropos today, as the City of Camden has officially announced an ambitious plan to completely transform 16-acres of prime waterfront land between the Ben Franklin Bridge and the Adventure Aquarium.
Liberty Property Trust, the mega-developers behind the Navy Yard and Center City’s Comcast towers, will spearhead the $1 billion proposed development, the largest ever private sector investment in the city’s history.
If realized, the project will (largely) swap what seems like miles of surface parking lots for a live/work/play mix of glitzy office towers and low-rises, a residential component, lively restaurants and retail and even a hotel.
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1200 Intrepid | Rendering via Bjarke Ingels Group/PIDC
Update: Here’s a look at the renderings of the “gravity defying” 1200 Intrepid. As you know, the building is designed by global architecture firm Bjarke Ingels Group. The building, which is targeting LEED gold certification, officially broke ground on Tuesday, June 30 in a dual ceremony that also saw Liberty Property Trust cut the ribbon on Central Green, an impressive park space in the middle of the Navy Yard.
Bjarke Ingels dug a little deeper into the overall design in a press release:
“Our design for 1200 Intrepid has been shaped by the encounter between Robert Stern’s urban master plan of rectangular city blocks and James Corner’s iconic circular park. The ‘shock wave’ of the public space spreads like rings in the water invading the footprint of our building to create a generous urban canopy at the entrance. The resultant double curved façade echoes the complex yet rational geometries of maritime architecture. Inside, the elevator lobby forms an actual periscope allowing people to admire the mothballed ships at the adjacent docks.”
Take a look at the aerial angle and how it interacts with the surrounding buildings and the new Central Green:
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Central Green | Rendering/Photo via The Navy Yard and James Corner Field Operations
The park is now open. Take a look:
The Navy Yard's Central Green
The Navy Yard is set to officially unveil its new 4.5-acre green space dubbed Central Green next week. Jennifer Tran, Marketing and Communications Manager at the Navy Yard, told Property that the ribbon cutting will take place on Tuesday, June 30 at 11:45 a.m. at Rouse Boulevard and Intrepid Avenue (map). The event is open to the public and will feature live music, giveaways, a pay-as-you-go food truck lineup, outdoor games and even a free yoga session from Nava Yoga Center.
The circular park will be broken down into various outdoor rooms and feature multiple activity spaces, including a “sunlawn” for lounging, a serene hammock grove, a dedicated fitness station and even a large communal meeting table for people who want to conduct some business al fresco or just eat lunch. “We’re really excited about this park,” said Tran. “It’s for the employees [at the Navy Yard], but also for the public to enjoy as well.” Read more »
Is it possible that Comcast could build a third skyscraper in Center City? Natalie Kostelni of the Philadelphia Business Journal reports that Liberty Property Trust has been quietly buying up “a series of properties at 19th and Arch streets,” further fueling speculation that the cable giant could eventually complete a holy triumvirate of towers. Reports Kostelni:
Another tower in that area would establish an expanded urban campus for the cable giant and continue to push the city’s Central Business District deeper into Logan Square.
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Rendering of CITC.
Image via Comcast Corporate.
After getting the regulatory process over three months ago, construction will soon begin on the Comcast Innovation and Technology Center, a joint project between Comcast and developer Liberty Property Trust.
The future 18th and Arch tower will include a Four Seasons Hotel with 222 rooms, as well as office space for the broadcasting/cable bigwig, which, according to PBJ’s Natalie Kostelni, made some changes to its lease:
Comcast has expanded the amount of space that it will occupy. The cable giant signed a 20-years lease on 982,275 square feet, or about 74 percent of the 1.33-million-square-foot building. It had initially taken 957,000 square feet.
The 59-story structure, to-be the city’s tallest tower (and the tallest building outside of New York and Chicago), has a $933 million price tag, of which $40 million comes from public city and state funds. The latter amount “will go toward infrastructure improvements, such as extending the subway concourse.”
• Comcast skyscraper construction begins; new details emerge [Business Journal]
In other news…
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Rendering of CITC.
Photo courtesy of Comcast Corporate.
The Civic Design Review Committee may not have the final say as to which projects get the go-ahead, but yesterday their approval of Comcast’s proposed Innovation and Technology Center, designed by London architect Norman Foster, ended the regulatory process for the building. Developers are now permits away from commencing construction this summer.
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