Former Family Court Building Gets Key Tax Credit Toward Renovation Into Hotel
The former Family Court building at 18th and Vine Street has been given a new chance at becoming a boutique hotel after years of delays.
Peebles Corp had proposed redeveloping the historic building as far back as 2014, only for the National Park Service to reject its $85M proposal to become a 199-room hotel operated by Kimpton Hotels as one that would severely downgrade its historic value. Details of the new proposal have not been made public, but the NPS approved it on Dec. 29, according to the Philadelphia Inquirer.
The new tax credit would reportedly take $14.6M off development costs, certainty that should allow Peebles to proceed with the city-owned building. Kimpton officials said in a statement they are no longer affiliated with the project. [Philly]