The Marriott Courtyard is expected to open up at the Navy Yard sometime during the second quarter of 2013, if all goes according to plan. Ensemble Hotel Partners and local developer Louis A. Cicalese will develope and own the 168-room hotel. Liberty Property and Philadelphia Industrial Development Corp. reached an agreement for Ensemble to construct the hotel. Marriott Corp. will manage the facility.
The Building is designed by Erdy McHenry Architects of Philadelphia. The fate of the project will depend on Ensemble arranging proper financing. Construction is set to start soon on the hotel, which would be the first at the Navy Yard and serve the growing corporate population being cultivated in the steadily increasing new business district, home to Urban Outfitters, Tastykake and soon Glaxo SmithKline.
Over at 2116 Chestnut Street, the John Buck Company recently bought the center City property and has plans to construct a $104 million, 34-story apartment building containing 319 units replacing the Sidney Hillman Medical Center. Sidney Hillman/ The Philadelphia Joint Board, Workers United are allying with John Buck of Chicago on redevelopment of 2116 Chestnut. Demolition is well underway and the project is expected to produce 900 construction jobs.
Toll Brothers continues to Build in South Philadelphia, showing no fear of the for-sale housing world. The developers are set to break ground across from its Naval Square project on 66 townhomes. The $31 million project is called 2400 South and is part of a larger phase of a residential project at the site. Eventually, Toll Bothers plans to construct 56 condominiums but is still selling condos at Naval Square, so they will hold off until those units are wrapped up. Apparently townhouses and condos are still selling, just as long as the price is right and the location is perfect.
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ReplyDeleteThat's a nice piece of PA real estate that should help add value. A good real estate resource that I might recommend is PhillyLiving.
ReplyDelete-Jackie