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New tower planned for Philadelphia skyline

7/29/2016 | Real Estate Blog

A local medical company is planning to erect a new tower to house its operations in Philadelphia. The first phase of construction will yield an eight-story, 250,000-square-feet, building for housing business operations, while a second phase will add another 290,000-squre-feet to the complex, expanding Philadelphia’s state of the art medical offerings.

The first phase office space is intended to hold many of the company’s corporate facets, such as human resources, information technologies, and employee benefits like in-house child care facilities. Further construction plans will expand the complex to include a new hospital structure, which will replace the university’s Penn Tower facility once the demolition has been completed.

Philadelphia’s planning commission has already approved the plans for the proposed New Patient Pavilion that will be a part of the later phases of the project. The New Patient Pavilion will reach 343 feet in height and features over one million square feet of available space, making it a significant addition to Philadelphia’s exceptional medical offerings, and an impressive feather in the cap of the architecture firm tasked with designing it.

Building a complex of this size and scope is no easy task. With astronomical amounts of red tape to work through and numerous committees to appease, not to mention zoning issues and the actual identification and securing of a suitable site for construction, seeing a project of this size through from conception to ribbon-cutting is no small feat. Any commercial real estate venture of such complexity requires the guidance of qualified, experienced real estate attorneys in order to avoid time- and resource-consuming setbacks, and to know how to resolve conflicts equitably when they inevitably arise.