Life, Liberty and the Pursuit of Wow: W Hotels Plans Hotel & Residences in Philadelphia
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Life, Liberty and the Pursuit of Wow: W Hotels Plans Hotel & Residences in Philadelphia
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Category: North America & West Indies / Carribean islands
This is a press release selected by our editorial committee and published online for free on 2006-07-13
The City of Brotherly Love...The Liberty Bell, Betsy Ross' House, The Declaration of Independence...more recently the hometown of Will Smith and Patti LaBelle, 5-Star restaurant Le Bec-Fin, Eagles' Donovan McNabb, Live 8, the notorious Philly cheese steak. Touted The Next Great City by National Geographic Traveler, Philadelphia will soon be adding a W Hotel to its list of desired destinations and national appeal. W Hotels, the fastest growing luxury hotel brand in the world, announced today plans for a new W Hotel & Residences in downtown Philadelphia, Pennsylvania, scheduled to open in 2009. Starwood Hotels and Resorts Worldwide, Inc. (NYSE:HOT), W's parent company, entered into a management agreement with 1200 Arch Street Associates L.P. to develop the property. Starwood will manage the hotel as a W and license the residential units as W Residences.
Located in "Center City" Philadelphia at the southwest corner of Arch Street and 12th Street, the W Philadelphia Hotel & Residences will be across the street from the Philadelphia Convention Center and the historical Reading Terminal Market (circa 1893), which houses 80 specialty food merchants and craftspeople. Center City itself contains 17 museums, dozens of art galleries, exceptional entertainment and an extensive theatre district, a plethora of critically acclaimed dining destinations and famed chefs, and a shoppers' haven of national brands, high-end retailers and privately owned boutiques.
The hotel will feature 250 luxurious guest rooms, including 26 suites, 3 "Wow" suites and 1 Extreme Wow suite. Guests will indulge in a 6,500 square foot Bliss Spa, a signature restaurant and bar with outdoor garden space and 11,000 square feet of meeting space with Sensory Set-Up to inspire Ben Franklin-style creativity in every meeting.
"Urban Residential is thrilled to be partnering with W Hotels and introducing this Starwood brand into the thriving Philadelphia market," said Chris Martorella, CEO of Urban Residential. "Philadelphia has been recognized as 'the next great city', and this venture is further proof that the city of brotherly love has arrived."
The project will also include 95 W Residences, offering owners a combination of one and two bedroom condominiums with all the benefits of being attached to a W Hotel, such as full use of the property's facilities, 24-hour room service, maid service and Whatever/Whenever concierge services. In addition to Philadelphia, W is currently developing Residences in South Beach, Las Vegas, Hoboken, Scottsdale, Hollywood, Phoenix and Fort Lauderdale.
W's signature Living Room experience will offer an irresistible escape where guests and locals can sink into oversized furniture with the morning paper and a cappuccino or socialize over cocktails and live DJs in a communal setting that morphs from day into night. Those looking to exercise their fashion sense - or simply exercise - the W Philadelphia will feature W Hotels the Store, W's trendsetting retail boutique, and SWEAT, an extensive fitness facility.
ABOUT 1200 ARCH ASSOCIATES
1200 ARCH ASSOCIATES is a joint collaboration between Urban Residential and Parkway Corporation, exclusive to the W Philadelphia project.
Urban Residential is an urban housing company specializing in the development of luxury multi-family condominiums and rental properties in premiere downtown neighborhoods. The company's geographic focus includes the metropolitan areas of New York and Philadelphia. Working with leading architects and designers, each project incorporates high design integrity, uncompromised quality and seamless integration within each neighborhood. Urban Residential is currently developing more than 1,100 residences in projects valued at more than $800 million. The firm is recognized for a series of landmark projects including the recently constructed condominium building, The St. James, which lies adjacent to Philadelphia's prestigious Washington Square and the Aria, a residential conversion of a beaux art office building just off Rittenhouse Square. Projects in New York include 505 Greenwich, 255 Hudson, the Sycamore and Nolita Place.
Parkway Corporation, over its history of 75 years, has been one of very few parking management companies that initially acquired and then developed parking facilities. This important distinction set Parkway apart as an operator, and also as a real estate developer. In the past five years, Parkway has developed over $150 million of mixed-use projects including parking, office, retail and residential uses. Parkway's geographic reach extends from Toronto, Ontario to Jacksonville, Florida, employing over 600 people to manage more than 20,000 spaces at over 80 locations. Headquartered in Philadelphia, PA, Parkway has not only developed in Philadelphia and elsewhere for more than 30 years but is currently one of the largest private owners of real estate in Center City Philadelphia.
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