Life Time Inc. has decided to not move forward on a Tredyffrin Township project that would have included a new office building to house its co-working concept, writes Natalie Kostelni for the Philadelphia Business Journal.
The health club chain already had approvals in place to build the 22,600-square-foot building that would house a Life Time Work location next to its fitness facility. However, the company recently informed the township that the project had been halted.
Last year, the company paid $4.9 million for a 5.4-acre parcel adjacent to its existing 150,000-square-foot facility. In addition to the building, Life Time planned to build extra parking on the lot.
“Similar to many companies, the impact of the pandemic and associated government-mandated shutdowns have caused us to recalibrate our expansion plans,” said the company. “While our Life Time Work project is on hold, we continue to be encouraged by the King of Prussia market for premium co-working for health-oriented members.”
Read more about Life Time Inc. in the Philadelphia Business Journal here.
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