Quote:
Originally Posted by Teakwood
Perhaps they are functioning on a Goldex-esque timeframe.
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Dollar amounts can get any development done quicker, barring unforeseen weather conditions. I think you forget that this is a private developer, not a public sector union which would normally bleed out over a +5yr construction plan. To my knowledge Blumenfeld has already completed the marginal costs of surveys/zoning/architects/etc it was merely having the capital infusion to move forward with the actual construction.
As for all the individuals who believe this project would be a failure, guarded optimism, or whatever. It seems everyone fails to realize this hotel isn't projected to capture the CC tourist market. The amount of Temple students just north, their collective diversity in terms of their originations, and the amount of parents/family members that come to visit them on a regular basis which would be more inclined to stay closer to campus than center city. Temple has needed a large/modern hotel for many years and now it seems it is happening. Not only do you have student families, which I've seen firsthand, visit on a regular basis, you have every athletic program in the Big East that travels to Temple to play them during home games. Not to mention LaSalle & the A10 further up the road with absolutely zero hotel options nearby.
Restaurants are exactly what that corridor needs and if a successful hotel is what will bring the foot traffic I don't believe it will be too long until we see some Renaissance along broad/fairmount.