A new hotel is under construction, at 12th & Arch Streets, across from the Pennsylvania Convention Center. The new hotel, Home2 Suites by Hilton, is an extended stay hotel that will also serve the visitors of the recently expanded Convention Center. It is being built by a partnership of the Wurzak Hotel Group and parking garage developer Parkway Corporation and will cost about $60 million to build. This provides for the growing demand for mid-priced hotel rooms for the convention center and a growing need for extended stay hotels in Center City.
The new hotel will have 246 guest rooms, almost 10,000 square feet of retail space, and over 2,000 square feet of meeting room space in an eight storey building. The retail will likely be all restaurants. There will be no parking in the building, but there are many nearby garages that can be used. There will be a partial green roof and a high performance HVAC system, among other sustainable features that are common in the Home2 Suites brand. The guest rooms will have kitchenettes and there will be laundry facilities, in the hotel, for the guests to use. Construction began last April and is expected to be done by the summer of 2013.
This will be Home2 Suites biggest property yet. They currently have seven hotels in the country and are building another nine. This hotel is looking to fill a niche by attracting largely young people looking for mid-priced extended stay housing, including some graduate students. It, also, adds a significant amount of retail to an underutilized corner, that had previously been a parking lot for several years. This is one of more than half a dozen development projects, on this stretch of Arch Street, that all include new retail, largely restaurants. On the next block is a new parking garage being built across the street from a building at Broad and Arch that will soon be converted to a hotel, as well. And, west of Broad is the new LeMeridien Hotel and two new apartment developments, a proposed new office building, and a likely mega-project at 18th & Arch Streets that will eventually be built by Liberty Property Trust. All these developments will likely have restaurants, creating a possible new restaurant row adjacent to the Convention Center, Reading Terminal Market, Comcast Center, the Avenue of the Arts north, and the Parkway.
If you are interested in buying or selling a home or investment property in this busy area of the city, send me an email at Gabriel.firstname.lastname@example.org or check out my Facebook realtor page, Gabriel G. Philly Realtor, or my twitter page, @GabrielGPhilaRE. You can, also, view my Long & Foster agent portal, here, and our Long & Foster Philly Center City office, here. And, you can find out more about the Home2 Suites on Hilton’s website, here, and see my pictures of the site that I took this past summer, below.