PHILADELPHIA, PA—Liberty Property Trust and joint venture partner Synterra Partners are launching a new 94,000 square foot office building at the Navy Yard, the first in Philadelphia to be designed by the world-renowned Bjarke Ingels Group. The partnership is also developing an adjacent five-acre park, Central Green, in which it partnered with the Philadelphia Industrial Development Corporation and the Commonwealth of Pennsylvania.

Central Green was designed by James Corner Field Operations, a landscape architect whose notable projects include Philadelphia's Race Street Pier and New York City's High Line. It's the sixth park added to the Navy Yard.

“We are redefining the intersection of work and play,” says John Gattuso, Liberty Property Trust senior vice president and regional director. “With the help of two extremely talented design teams, we further advance the reality of The Navy Yard as one of the most compelling work environments in the Philadelphia region. Increasingly, The Navy Yard is a place where employees want to work and businesses from around the world want to call home.”

The 1200 Intrepid Avenue building is the 14^th building Liberty has developed at The Navy Yard, a total of 1.35 million square feet.  The speculative development will offer 94,000 square feet of trophy quality office space. The Navy Yard is currently home to more than 11,500 employees and 145 companies occupying seven million square feet of real estate.

“With the addition of the beautiful Central Green and the new office space at 1200 Intrepid, the Philadelphia Navy Yard continues to go from strength to strength,” says Mayor Michael A. Nutter.  “This unique environment has been transformed from a closed military facility to one of the nation's leading places to work, creating even more reasons for innovative companies from around the world to move to Philadelphia.”

“We are thrilled to join with our partners today to officially open this new park and break ground on the next great addition to The Navy Yard's expanding office campus,” says John Grady, president of PIDC. “The Navy Yard is one of the region's most vibrant and progressive business locations, and Central Green is the perfect sustainable amenity to match the active workplace activities that surround it.”

The four-story 1200 Intrepid Avenue building is targeting LEED^® Gold certification and will be ready for occupancy in 2016.The building's design can accommodate either a single or multi-tenant layout.

“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,” says Bjarke Ingels, founding partner of BIG. “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.”

Central Green is a five-acre park set between 12^th Street and Rouse Boulevard in the heart of The Navy Yard.  A 20-ft wide “Social Track” organizes the project and frames a unique, immersive interior park. Marked by a large digital clock and oversized chaise lounge chairs, this 1/5 mile loop allows for measured exercise, as well as sunbathing and socialization. The park interior is home to a hammock grove, sunlawn, conference table, bocce court, table tennis and fitness area.

During the last eleven years, Liberty has developed 10 properties in The Navy Yard Corporate Center for an investment of $233 million. Additionally at The Navy Yard Liberty has developed four buildings at the Commerce Center representing an additional investment of $67 million.