FS Investments recently announced it will be moving from the Philadelphia Navy Yard to the new $300 million mixed-use tower in Schuylkill Yards, writes Jeff Blumenthal for the Philadelphia Business Journal.
The move comes after signing a 16-year lease and allows the alternative asset management firm to increase its square footage by 46 percent.
By early January 2026, FS Investments plans to have all of its nearly 300 local employees move into the new space at Schuylkill Yards.
In moving where it did, FS will be able to avoid Keystone Opportunity Zone tax credits.
According to CEO Michael Forman, had the firm not been able to reach a deal with the city and state officials to find a building in Keystone Opportunity Zone with access to 30th Street Station, it likely would have had to relocate its headquarters elsewhere. It likely would have been to one of its other offices in New York or Connecticut.
These zones eliminate most local and state taxes in order to incentivize for-profit businesses to relocate to underdeveloped and underutilized areas.
Read more about FS Investment’s move from the Navy Yard to Schuylkill Yards in the Philadelphia Business Journal.
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