Hotel News: The Study at University City Breaks Ground
Drexel University is making some noise this week. Hot off of announcing their big plans for the Korman Quadrangle, Study Hotels and Hospitality 3, a hotel development company, broke ground on a new project called the Study at University City today.
The hotel will have a prime location on northwest corner of 33rd and Chestnut and feature 212 rooms, 7,000-square-feet of banquet/meeting space, a 105-seat corner restaurant and bar and a state-of-the-art fitness center, according to a press release. It will replace the James E. Marks Intercultural Center.
Philly’s own DIGSAU handled the design of the building, which follows Study’s first brand at Yale, aptly named The Study at Yale, in New Haven, Connecticut. The project was announced in May, when Drexel agreed to a “long term ground lease” for the location with developer Hospitality 3, who own the hotel to be operated by Study Hotels. The project on Drexel’s campus is expected to open in fall 2016.
Here’s more from Paul McGowan of Hospitality 3 from the press release:
“We are thrilled to be taking the next step in delivering the Study Hotels concept to Philadelphia. This hotel will embrace the unique culture and positive spirit of University City’s thriving academic, research and medical institutions by offering welcoming spaces and warm hospitality. Our goal is to create a sophisticated yet casual environment complemented by outstanding service for guests seeking to engage in the University City surroundings.”
The estimated cost of the project is $50 million and John Fry, President of Drexel University, is all kinds of excited about the new hotel concept. From the release:
“University City is home to one of the world’s great intellectual ecosystems in one of the most transit-accessible locations. What has been missing is an outstanding hotel for students and families, faculty, researchers, entrepreneurs and all visitors drawn to this unique place. We are very excited to partner with Hospitality 3 to bring the Study Hotels concept to our campus in West Philadelphia and to connect hotel operations to the community, through collaboration and civic engagement.”
Philly’s hotel scene was seemingly stagnant for the last decade or so and things are really starting to heat up this year. They’re movin’ dirt over at the W and Element project at 15th and Chestnut. Near-neighbor Roost–a hip,extended stay option–opened late last year. Dranoff’s SLS International is in full-on demolition mode. The Four Seasons is slated to close and be replaced by a yet-to-be-name-but-starting-to-tease-us luxury concept. Even the Parker Spruce is getting new life. What a world!