Hospitality For Sale


Ideally located in Center City Philadelphia, directly across Broad Street from the Pennsylvania Convention Center, the site is approximately 51 by 190 feet and is improved with a six-story parking garage. The zoning is CMX-4 with hotel as a permitted use. The proposed development adds four stories to the existing structure, plus the basement. The hotel will contain on completion 92,624 gross square feet. The ground floor includes a lobby check-in, board room, lounge,administration offices and a loading dock (to the rear). Levels two through 10 contain 13 units per floor for a total of 117 keys. The rooftop will contain a lounge / meeting room, a board room and a rooftop deck. The architectural design includes a center core atrium that will provide all rooms with light and air. Alternatively, the property can be submitted for rezoning, allowing for a 14-story addition that will provide 280-325 keys. Ownership will either sell the development opportunity outright or consider a joint venture development. The Pennsylvania Convention Center, located across the street, opened its doors in 1993 and underwent a substantial expansion that was completed in 2011. Today, the Center consists of more than two million square feet of space, including seven exhibit halls totaling 679,000 square feet of exhibit space; 528,000 square feet of which is contiguous exhibit space. In addition, the Center boasts more than 82 meeting rooms that can be set in banquet, classroom, or theater seating and the largest ballroom in the Northeast, beautifully converted, which is equivalent to the size of a football field.

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