The Philadelphia Business Journal reported on July 25th that Conshohocken was on the short list for a potential new home for the headquarters of Philadelphia Insurance. In the end, Philadelphia Insurance decided to keep its headquarters in Bala Cynwyd off City Avenue.
Its new lease in Bala Cynwyd is for 285,000 square feet, which means the company was not looking at existing buildings in Conshohocken. It had to be talking to the developers with approved, but not built, or proposed office buildings. There are currently five options that would have at least met its square footage requirement.
If Philadelphia Insurance had chosen Conshohocken, a new building would have been built and there would be an additional 1,000 people working in Conshohocken.