An $80 million office tower is going up in South Philly, right next to Xfinity Live! and a trio of Philly sports arenas and just a mile away from The Navy Yard.
Comcast Spectacor and Baltimore-based real estate investor The Cordish Companies unveiled last week the details on Pattison Place, a Class A (i.e. fancy and expensive) office tower that will comprise 200,000 square feet of new construction and 20,000 square feet of premier ground-floor retail.
No specific completion data has been given for the complex, but a Comcast Spectacor spokesperson said the groundbreaking for the project could take place at the end of the year.
“We’re thrilled to partner with The Cordish Companies and launch the next phase of development within the Philadelphia Sports Complex,” said Dave Scott, chairman and CEO of Comcast Spectacor. “Pattison Place presents a unique and compelling opportunity in the Sports Complex and builds on the continued success of Xfinity Live!. We’re looking forward to making additional announcements as our growing neighborhood expands in new and exciting directions.”
Estimates from the company say the project will create 1,670 new jobs and generate $295 million in economic benefit to the city and state over the coming 30 years.
Comcast Spectacor — whose parent company is Comcast — is based out of (and operates) the nearby Wells Fargo Center. It also owns the Philadelphia Flyers, Philly’s official Overwatch team, and the Philadelphia Wings of the National Lacrosse League.
“We are excited to see this next phase of investment and growth in the Sports Complex by the Comcast Spectacor and Cordish partnership, building on the original vision of a destination complex for sports and entertainment,” said John Grady, president of PIDC, Philadelphia’s public-private economic development partnership that has managed investment in the Sports Complex on behalf of the City, in an email.
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