Headlines: Is a Boutique Hotel Coming to the Navy Yard?
Will another hotel soon join the Courtyard Marriot inside the friendly confines of the Navy Yard? While nothing is certain as of yet, Jacob Adelman of the The Inquirer reports that Franklin Square Capital Partners, an investment firm based in the Navy Yard, has applied for a $7.5 million grant through the state’s Redevelopment Assistance Capital Program (RACP).
The project description on the application shines from light on the plan:
Construction of modern luxury boutique hotel that boasts 150 guest rooms and offering full amenities including restaurant bar, spa, state-of-the-art fitness center, meeting rooms and a banquet facility, located at the Navy Yard, just 4 miles from Central City and 6 miles from Philadelphia International Airport.
Governor Wolf recently reopened the window to submit new, completed RACP business plans for potential candidates from May 4 to May 18. According to the state’s website, “it will be the priority of the commonwealth to focus limited available capital funding on those projects that display significant potential for improving economic growth and the creation of jobs.” Up to $125 million will be made available for potential recipients each year. The LEED-certified, 172-room Courtyard Marriot opened in 2014.
- $7.5M state grant sought for new boutique hotel at Navy Yard [The Inquirer]
In Other News…
- Property values in East Passyunk Crossing continuing to increase [Passyunk Post]
- The Porch 2.0 unveiled [West Philly Local]
- Council introduces end-of-session zoning code changes [PlanPhilly]
- City controller supports public subsidy for Gallery redevelopment [Philadelphia Business Journal]
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