PHILADELPHIA-A new hotel, comprising 264 guest rooms, is proposed for Center City Philadelphia. Philadelphia-based Parkway Corp. will develop the Home2 Suites by Hilton hotel proposed for Arch and 12th streets.
The $60-million hotel with an 860-space parking garage will be constructed on the other side of the Pennsylvania Convention Center. The developers will obtain $2.75 million from the state Redevelopment Assistance Capital Program, $5 million in HUD 108 loans from Philadelphia Industrial Development Corp. and $3 million from EnergyWorks funding for the development. For the full story, go to Philadelphia Business Journal .
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