PHILADELPHIA-Cable giant Comcast Corp. and developer Liberty Property Trust say they plan to build a new $1.2-billion office tower in Center City.

The 59-story building will be constructed on a parking lot at 18th and Arch streets. The skyscraper will total 1.5 million square feet and will stand some 1,121 feet high, making it the tallest building in the nation outside of New York City and Chicago, according to the Philadelphia Business Journal. The existing Comcast Center in Philadelphia is a 58-story building that is 975 feet high.

Comcast has committed to lease 957,000 square feet at the new building to be called the Comcast Innovation & Technology Center. The building will feature nearly 1.3 million square feet of office space.

“It is a departure from a traditional high-rise and even the first Comcast building,” John Gattuso, senior vice president and regional director for Liberty Property, said when describing the new office tower project. “It is much in the spirit of a loft building and a much more robust structure.” See story in the Philadelphia Business Journal.