A Philadelphia-based developer is proposing a 19-story hotel and condo tower at the southwest corner of Second and Race Streets in Old City, across the street from the newly constructed Bridge on Race apartment building.
Revolution Development Group’s proposed tower would feature 117 hotel guest rooms on its lower stories, with 24 condominium units on its top nine floors, according to plans posted to the website of the Philadelphia Historic Commission.
The commission is scheduled to consider the proposal June 27 because its design incorporates a three-story industrial building at 152 N. 2nd St. near the middle of the block that qualifies for protection as part of the Old City Historic District.
The building is currently used by Swift Food Equipment Inc., which is pooling its property holdings at the site with Revolution to accommodate the project, Revolution development director Andy Kaplin said in an interview Tuesday.
The industrial building will serve as a lobby for the hotel portion of the new project, which is being designed by New York-based Morris Adjmi Architects, Kaplin said. Swift will continue to operate in another building that it owns on the block at Quarry Street, he said.
Revolution will begin seeking a hospitality brand to operate the proposed building’s hotel portion after the project has completed its permitting process, but multiple operators have expressed interest in the plan, Kaplin said.
The condo portion, meanwhile, is meant to satisfy demand for for-sale housing in Old City, where rental projects such as the Bridge on Race and National apartment buildings have dominated, he said.
“No new high rise development has been proposed in Old City for condos in quite some time,” he said. “Old City needs more owners. Philadelphia needs more high-rise condominium opportunities.”
Since the proposed building’s height and interior floor space exceed what is allowed by the city section’s land-use rules, Revolution will require special zoning board permissions to complete the project, Kaplin said.
Revolution’s other projects in the area include the 43-unit 22 S. Front St. condo building south of Market Street and an eight-unit townhouse court at 230 Race St. The company was cofounded by Blue Bell-based attorney Marc B. Kaplin.