PPL Corp. is leaving its iconic PPL tower in downtown Allentown.
The company announced on Thursday that it is relocating its corporate headquarters to Two City Center, down the street at 645 Hamilton St.
The company described the move as “right-sizing” its real estate space.
“We have been proud to call Allentown home for a century and, with the signing of a 20-year lease, plan to remain part of the city’s growth story for years to come,” said PPL President and Chief Executive Officer Vincent Sorgi. “As we look to the future, we’ve decided to move from our current location to optimize our use of real estate and to reduce overall costs for our customers.”
He said that while the PPL building and surrounding office complex has served the company’s needs well for decades, he believes Two City Center is better suited to support current and future workforce needs.
PPL expects the move to take place this fall, and it expects to occupy about 107,000 square feet of space in the new location.
The move will coincide with PPL’s plans to bring over 400 headquarters employees back to the office.
PPL’s current headquarters complex is located at 2 North Ninth St., Allentown, and includes the 24-story PPL Tower Building.
The company said it plans to sell and repurpose the tower and complex.
“With this move, we remain as committed as ever to downtown Allentown, and we’re excited about our employees supporting downtown businesses,” said Sorgi. “We look forward to remaining a steady presence in the city, to engaging as we have for years to build a stronger community, and to keeping our corporate headquarters here as we create the utilities of the future in Pennsylvania, Kentucky, Virginia and Rhode Island.”