We also brought on board a contractor before the design work started and gave them a target per square foot cost of about 20% less than limited service hotel construction had been projected to cost in Philadelphia at the time.Parkway’s in-house architectural team worked to design a super-efficient, typical floor minimizing corridor stair and elevator area per room by designing a double-loaded corridor “U” shaped building achieving 31 rooms per floor with an extremely efficient façade area per room of just over 100 square feet and with a rentable room to gross area of 88%.Given the historically poor risk/reward ratio for new hotel development in Philadelphia’s high construction cost and low revenue environment, hotel projects were at the time impossible to finance conventionally. In 2011, rather than allow the lease and development rights to lapse at the end of the term and face a potential short or long-term parking competitor constructing a garage on the site, Parkway chose to proceed with a hotel development despite a severe downturn in commercial real estate. Parkway intended to develop a hotel directly across the street from the Pennsylvania Convention Center’s main entrance. In 2000, Parkway Corporation, as a second phase of our 800-car Convention Center garage development, had secured a 10-year lease for a 28,000 SF adjacent parking lot owned by the Philadelphia Redevelopment Authority - together with a ten-year option to the development rights of the parcel. In this case, by understanding how to minimize costs and combining that with the ability to seek out and obtain governmental subsidies to fill a large financing gap, we were able to successfully lead a team in the design and construction of a 248 room select–service, extended stay hotel under a new flag, Home2 Suites by Hilton. Over the years, Parkway Corporation has developed projects despite challenges thought to be insurmountable. Business, Other Amenities Featured amenities include a business center, audiovisual equipment, and luggage storage.Making an Almost Impossible Development Happen. ![]() Dining Enjoy a satisfying meal at a restaurant serving guests of Home2 Suites by Hilton Philadelphia - Convention Center, PA. Rec, Spa, Premium Amenities Take advantage of recreation opportunities such as a fitness facility, or other amenities including supervised childcare/activities and tour/ticket assistance. Conveniences include desks and complimentary weekday newspapers, as well as phones with voice mail. 42-inch flat-screen televisions with cable programming provide entertainment, while complimentary wireless Internet access keeps you connected. Rooms Make yourself at home in one of the 248 air-conditioned rooms featuring kitchens with full-sized refrigerators/freezers and microwaves. This hotel is within close proximity of Museum of American Art and City Hall. Property Location With a stay at Home2 Suites by Hilton Philadelphia - Convention Center, PA, you'll be centrally located in Philadelphia, steps from Reading Terminal Market and Pennsylvania Convention Center. Business, Other Amenities Featured amenities include a business center, audiovisual equipment, and luggage storage. ![]() ![]()
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