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$7.5M state grant sought for new boutique hotel at Navy Yard

Investment manager Franklin Square Capital Partners has applied for a $7.5 million grant to build a hotel at Philadelphia's Navy Yard business campus, according to a state report.

The Philadelphia Navy Yard, April 25, 2013. With phone-based suppliers eager to house proliferating corporate data systems close to Center City and national trunk lines, Comcast has built its own rival system serving the Yard, connected to its nearby Wells Fargo Center, as it takes its fast-growing Business Services unit nationwide. ( TOM GRALISH / Staff Photographer )
The Philadelphia Navy Yard, April 25, 2013. With phone-based suppliers eager to house proliferating corporate data systems close to Center City and national trunk lines, Comcast has built its own rival system serving the Yard, connected to its nearby Wells Fargo Center, as it takes its fast-growing Business Services unit nationwide. ( TOM GRALISH / Staff Photographer )Read more
    by By Jacob Adelman, Inquirer Staff Writer
    Published 

Investment manager Franklin Square Capital Partners has applied for a $7.5 million grant to build a hotel at Philadelphia's Navy Yard business campus, according to a state report.

The property, described as a "luxury boutique hotel," would feature 150 guest rooms, according to the list of applicants to the Redevelopment Capital Assistance Program posted Wednesday on the state's website.

No other details, including the prospective hotel's operator and total budget, were disclosed. A message left with the company brought no immediate response.

The Navy Yard currently accommodates a 172-room Marriott Courtyard hotel.

Franklin Square moved into a new headquarters building at the business campus this year.

jadelman@phillynews.com

215-854-2615 @jacobadelman