Friday, July 12, 2013

Upscale hotel in the works for Ben Franklin Parkway.

From the Philadelphia Magazine:
http://www.phillymag.com/realestate/new-projects/family-court-building-now-has-3-luxury-hotel-proposals/?utm_source=iContact&utm_medium=email&utm_campaign=Philly%20Post:%20Philadelphia&utm_content=

and from Philly.com
http://www.philly.com/philly/busines..._building.html

The Art-Classical-designed Family Court Building is likely to become the home of an upscale luxury hotel. According to the articles posted above, there are three upscale hotel proposals. According to the Philadelphia Industrial Development Corporation, development proposals were excepted ONLY if they agreed to incorporate the existing building into the new design. Taken from Philadelphia Magazine:
PIDC made one thing abundantly clear: They were only accepting proposals “from qualified and experienced development firms with the demonstrated ability to successfully design, finance, and develop historic properties of a similar size, cost, scope, and complexity.” 
What once had nine competing developers, the competition now has three finalists: Logan Square Holdings (associated with Fairmont Hotels), HRI Associates (Starwood), and P&A Associates (Kimpton Hotel); the latter of the three developed and incorporated York Row into the 45-story Saint James condominium tower (referenced in a previous blog post).

Whichever of the three receives the nod will have a chance to do something that will very likely become an asset for the city. In my personal opinion, I think Philadelphia could gain the most from having the Fairmont name in Center City. The city currently has luxury hotels including a Four Seasons, Ritz Carlton, and a Westin, as well as a Kimpton Hotel. I am familiar with Fairmont, and I think they and the city could really gain from having that name in town.