New Hotel Planned For 12th and Arch Sts. In Center City Philadelphia
PHILADELPHIA (CBS) - In a glimmer of good economic news for Philadelphia, a local developer today announced plans for a new hotel to be built right across the street from the Pennsylvania Convention Center.
The Parkway Corporation -- best known for its garages and parking lots in Philadelphia -- plans to build a $60-million hotel at the corner of 12th and Arch Streets, across from the convention center and just west of Reading Terminal Market, now the site of a parking lot (photo below).
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"The Convention Center has expanded, and it's booking, and it's doing very well," Parkway Corp. president Rob Zuritsky said today. "There's a market for new hotel rooms. So we think this is a very good investment."
Jack Ferguson, CEO of the Philadelphia Convention and Visitors Bureau, agrees.
"Absolutely there's a need," he said today. "We have these large conventions coming in, and the demand for rooms gets tougher and tougher all the time."
The hotel, to be complete in 2013, will have 246 suites aimed at long-term travelers. It will be managed by Hilton under its new brand, "Home2 Suites."
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It is the first from-the-ground-up hotel construction in Philadelphia since 2000.
Reported by Mike Dunn, KYW Newsradio 1060
