PHILADELPHIA | Highrise Development Thread X

[Londonee]

Originally Posted by reparcsyks

Not a chance.

Is that inside info? Don't they own the corner lot at 19th and Arch?

[PHL10]

Originally Posted by Londonee

Is that inside info? Don't they own the corner lot at 19th and Arch?

I think people are just "spit-balling". Many said that the days of Highrise office buildings being developed for a single company were over after Covid; then Chubb happened.

[PHLtoNYC]

Originally Posted by Londonee

Is that inside info? Don't they own the corner lot at 19th and Arch?

I think Parkway owns the parking section and the charter school owns the other section? So Parkway would certainly sell, but the school would need to be relocated.

[reparcsyks]

Originally Posted by PHL10

I think people are just "spit-balling". Many said that the days of Highrise office buildings being developed for a single company were over after Covid; then Chubb happened.

Do I think a squat Chubb-like building may be built on that lot in the next 20ish years? Sure.

[PHL10]

Originally Posted by reparcsyks

Do I think a squat Chubb-like building may be built on that lot in the next 20ish years? Sure.

I'm glad we agree that "not a chance" is probably not the best assessment.

[bdurk]

Comcast is still very much in the market for a third building but I doubt it will top either of the two they have already built, unless it was mixed-use again like CTC. They were very adamant about a third building before COVID but I know they were shopping some sites for it post-COVID. I assume that the current real estate market is not helping so while I wouldn't say it's happening anytime soon, I also wouldn't say it will never happen.

[thoughtcriminal]

Originally Posted by bdurk

Comcast is still very much in the market for a third building

source? is this inside info? I can't imagine that they would still be in the market for a third building, but I don't know anything.

[bdurk]

It's an inside source but also take it with a grain of salt because it isn't Brian Roberts. Like I said I doubt they would build a third building anytime soon, but I could see it happening if the market is decent in like a decade.

[PHLtoNYC]

Originally Posted by bdurk

It's an inside source but also take it with a grain of salt because it isn't Brian Roberts. Like I said I doubt they would build a third building anytime soon, but I could see it happening if the market is decent in like a decade.

Are they out of space in their current towers or planning to add operations to Philadelphia? Just curious, because another tower (let's say 300'-700') would likely mean a significant amount of new employees.

[Londonee]

Originally Posted by PHLtoNYC

I think Parkway owns the parking section and the charter school owns the other section? So Parkway would certainly sell, but the school would need to be relocated.

Parkway runs that lot - do they own it? The lot is big enough for a massive building independent of the charter school.

[Londonee]

Originally Posted by PHLtoNYC

Are they out of space in their current towers or planning to add operations to Philadelphia? Just curious, because another tower (let's say 300'-700') would likely mean a significant amount of new employees.

Comcast needs to be acquisitive or it’s gonna be in a weird place very very soon. Their core business is in decline. Their stock is basically static for a decade. The Robert’s own the board and have been smart stewards, so it’s not like anything drastic will happen imminently. But there’s no Robert’s heir apparent who isn’t interested in crypto and video games so they have a lot of big decisions on what they do/what business they’re in in the next 10 years.

All that to say unless they’re acquisitive in a growing market I doubt they’re building any time soon z

[PHLtoNYC]

Originally Posted by Londonee

Comcast needs to be acquisitive or it’s gonna be in a weird place very very soon. Their core business is in decline. Their stock is basically static for a decade. The Robert’s own the board and have been smart stewards, so it’s not like anything drastic will happen imminently. But there’s no Robert’s heir apparent who isn’t interested in crypto and video games so they have a lot of big decisions on what they do/what business they’re in in the next 10 years.

All that to say unless they’re acquisitive in a growing market I doubt they’re building any time soon z

I agree that their legacy business will take more of a backseat as time goes on... But there is plenty of business reporting that details Comcast's current and future strategy. The company is focused on broadband, wireless, streaming, AI infrastructure, intellectual property, and theme parks. Every major corporation eventually reaches a crossroads where it must evolve or risk falling behind. Based on what I read, It doesn't appear Comcast is in danger of the latter.

I wish the sale of Time Warner went through back in 2014/15. It was un uphill battle, but would have given Comcast control of HBO and Warner Bros. Now its going to Paramount.