Divine Lorraine Hotel Gets Another Chance at Life

Philadelphian historians and locals alike, even politicians have developed a special place in their heart for the iconic Divine Lorraine Hotel on North Broad Street.  Many themselves have probably wished they could save her.  Well, the 11-story 118 year old building will very likely get a deserving facelift and an opportunity to usher in the 21st Century revival of North Broad Street aka. Avenue of the Arts North.

Developer Eric Blumenfeld recently acquired the building again for the second time in eight years.  He plans to convert the property into 126 rental apartment units with 25 units set aside for subsidized, affordable rate leases.  The ground floor would be used for restaurants or food outlets.  Blumenfeld said he would immediately try to finalize design plans, permits and financing for the renovation project.  The project is to cost about $43.5 million.  Blumenfeld said he already had secured more than half that amount from U.S. Bank and will seek tax-credit financing and a state grant for the rest.  He has also said he was in discussions with restauranteur Marc Vetri and Iron chef Jose Garces about taking space in the building.

The mayor says a revival of the Divine Lorraine is key to turning around North Broad Street.   Over the past few years Blumenfeld converted 640 N. Broad St. into loft apartments and  joined with another developer to redevelop 600 N. Broad and the former Wilkie Buick dealership.  He would also like to acquire the vacant land next to the Dive Lorraine to develop into a campus for public high schools.  There is no commitment for that project from the Philadelphia School District or any other parties.  The developer plans to begin renovations in 2013.