PHILADELPHIA-Two office buildings situated in Center City will be transformed into a boutique hotel. Michael H. Sonnabend from PMZ Realty Capital said that the 101,000-square-foot Bailey building located at 1218 Chestnut St. and the 40,000-square-foot Biddle building situated at 1217 Sansom St. will be converted into Hotel Indigo.
InterContinental Hotels will manage the 150-key hotel. The financing for the redevelopment is being arranged by PMZ Realty Capital. The estimated cost of the project is $35 million. For the full story, go to Philadelphia Business Journal .
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