[Swinefeld]

Waldorf=Astoria Hotel & Residences Philadelphia

Website: Waldorf=Astoria Hotel & Residences Philadelphia (http://waldorfphiladelphia.com/#/home)

Location: 1441 Chestnut St., Philadelphia, PA 19102
Usage: Hotel, condominium and retail space
Height: 670' (204 meters) Floors: 58
Architects: Cope Linder Architects
Developers:
• Mariner Commercial Properties, Inc.
• Gatehouse Capital Corporation
Estimated Cost: $420,000,000
Units/Condominium: 136 units
Units/Hotel: 175 rooms
Groundbreaking: January 2010
Completion: Spring 2012
Amenities/Features:
• 21,540-square-foot Ballroom Floor
• 5,600-square-foot column-free, day-lit Jewel Box Ballroom*
• 2,500-square-foot Pre-Function Space
• 2,500-square-foot Junior Ballroom
• 2,400 square feet of Meeting Space
• 14,000-square-foot spa & Precor Fitness Center with 46-foot indoor pool
• 7,000-square-foot five-star Signature Restaurant on Chestnut Street
• 2,000-square-foot Retail Boutique at the corner of 15th & Chestnut Streets • 350-car valet garage

Further reading: here (http://waldorfphiladelphia.com/pdf/Waldorf_Astoria_Philadelphia_Hotel_Residences_Fact_Sheet.pdf) and here (http://www.philly.com/philly/business/33625564.html) and here (http://www.philly.com/philly/blogs/phillyinc/33587559.html) and here (http://www.philly.com/philly/business/33561804.html).

Rendering by Cope Linder Architects
http://i43.photobucket.com/albums/e388/Swinefeld/New%20Constructon/WaldorfAstoriaPhiladelphiaRendering.jpg

[Late1]

Here's another, slightly outdated rendering (note the subtle differences between this one and the official, new one Swinefeld posted above):
http://img.photobucket.com/albums/v11/late1/1441chestnut2.jpg
rendering by Cope Linder Architects


And another REALLY OUTDATED rendering from the original proposal, which I think was something like 50 floors/585 or 615 feet (the histories of this proposal and that of the neighboring Residences at the Ritz are so long and convoluted, I can't remember):
http://img.photobucket.com/albums/v11/late1/1441chestnutOLD.jpg
rendering by Cope Linder Architects

[SJPhillyBoy]

This will be some really nice infill in the already dense city hall area. Having a Ritz Carlton and Waldorf Astoria back-to-back to each other makes for some high class...right off the already classy Avenue of the Arts.
I like the design. Looking forward to seeing some additional renderings.

The Phillies are the World Series Champions!!

[bucks native]

Thanks, Swiney. Great start. Now WE can pile on.

[Complex01]

Wow thats really nice. Looks great...

:tup:

[cubanChris]

Here's another, slightly outdated rendering (note the subtle differences between this one and the official, new one Swinefeld posted above):
http://img.photobucket.com/albums/v11/late1/1441chestnut2.jpg
rendering by Cope Linder Architects

The Vertical lines in the new rendering do well to vault the attention upwards, expanding the scope and majesty of the height as opposed to the horizontal lines of the old rendering which do more to compress the building. Plus a much more elegant and grand entrance and an overall more polished rendering =) ... Leaves us a lot to be excited about!

[Ninjawho]

I really want to see more "final" renderings before I make a decision if I like it or not...but the one that swiney posted I'm not so fond of. I looks like Houston 1992 to me for some reason. Really not impressed...just seems 90's blah to me.

[NDPhilly]

i like the vertical lines better than the horizontal.

[skellergroup]

Trying to not get too excited about this until i see a shovel hit the dirt.

[TOBoy]

Given how long it has taken for this site to get going, I wont get too excited either.

That said, the proposal is nice and it's great that they updated the design after so many years from the other proposal floating around.

[slow-v6]

It will hide the Ritz from the south! That sucks but otherwise I like it.

[Muji]

I just noticed the little roof deck in the rendering for the first time. That's going to be one seriously killer view!

[hammersklavier]

What about the eight stories of parking garages?

http://www.phillyblog.com/philly/architecture-urban-planning/69085-waldorf-astoria-coming-philadelphia.html

And Mahoney says he's building the parking platform first! Although I want this thing to happen, I'm a little skeptical about having any aboveground parking at all on a site so close to City Hall.

[Eigenwelt]

I can't help but think the vertical stripes make this design look very dated. I really don't want to stare at an 80's zebra on the horizon everytime I go to a Phillies game.

[skyscraper]

I can't help but think the vertical stripes make this design look very dated. I really don't want to stare at an 80's zebra on the horizon everytime I go to a Phillies game.

then don't stare at it. ;)

[Ritz48]

I can't believe that Hilton/Waldorf Astoria would permit a new development to be announced unless it was like to move forward especially since this is one of the first to be built.

[BigDan35]

For everyone that is saying the rendering with the vertical stripes makes the building look outdated. I think just that picture in general looks outdated, not the stripes, just the whole picture. Looks like it was taken 20 years ago.

But I do have to say that the renderings with the horizontal stripes look real good.

[McBane]

Ritz - Hilton/Waldorf did not really make the announcement. Just as with other hotel/mixed use projects the hotel is merely allowing their brand to used. Take the RATR - it's a brand but with different developers. So the RATRs in LA, Toronto, etc. are just residential buildings that happen to be branded. In other words, these hotels are just along for the ride. It's not much different than the announcements of other "unbranded" projects.

That said, I really hope to see this project come into fruition. It will have a great impact on the skyline from all directions.

[CondoGuru]

They're supposed to be opening a sales center for the condo portion of the project early next year, right? Chris Shenian was the commercial agent who brokered the leasing of their space on Walnut St. if I remember correctly.

[Philly-Drew]

This thing is back on the radar? I would like to see a nice building in that location. Hopefully by the time the building design is completed it is something that really stands out as special.

What are the odds though? I mean, we've been hearing about a building in that spot for a long, long time.

[rricci]

Friday, February 27, 2009
$420M Waldorf Astoria moving forward as planned
Philadelphia Business Journal - by Natalie Kostelni Staff Writer

In spite of the condo and overall residential market being in the tank, developer Tim Mahoney is forging ahead with a proposed $420 million Waldorf Astoria Hotel and Residences that will be constructed at 1441 Chestnut St. across from City Hall.

In a sign of confidence, the developer is even putting finishing touches on a glitzy model condominium that will replicate a unit in the high-rise where condos will start at $1 million and run up to $22 million for an 11,000-square-foot bilevel penthouse.

“We’re selling this into a 2012 and 2013 market,” said Mahoney, CEO of Mariner Commercial Properties Inc., the project’s developer. “If we deliver into an economy that looks like this, I think we’ve got bigger problems to worry about. We’re selling a piece of the future and hope.”

Mahoney, whose Mariner of Ardmore is working on the project along with local millionaire Brook J. Lenfest and Gatehouse Capital Corp. of Dallas, is also confident in the mixed-use hotel-condo concept even though the Ritz-Carlton is completing its residential tower next door and developers across the country overbuilt these type of projects in some cities. A supply issue shouldn’t be a problem by the time the building is completed and the Waldorf stands apart from the Ritz and other residential projects, Mahoney said.

Mahoney is prepping for the debut of the new luxury high-rise on the former Meridian Building site by investing millions into a 6,600-square-foot model that will also serve as a sales office.

The model is housed in space at 1518 Walnut St. where the Sharper Image once had a store and where Circa Restaurant and Nightclub formerly operated in what was originally a bank building constructed in 1929. The choice in the space, along Philadelphia’s most active and prominent retail addresses, was deliberate. The developer is “merchandising” the condos just as a retailer would a Louis Vuitton bag, Mahoney said.

“I want to create a sense of ‘I’ve got to have it,’” he said.

Mahoney wants shoppers along Walnut Street to see the model as they walk by, be intrigued and come in for a look-see. Once in there, they will be so wowed by the model and the “lifestyle” of living at a Waldorf, that they will plunk down a deposit on one of the 126 residences. The hotel will have 181 rooms.

“It’s risky,” Mahoney said. “But it’s highly visual and a very immersive experience. We want to give you a peek of what it would be like to live in the Waldorf Astoria.”

While the building was designed by Cope Linder Architects of Philadelphia, the model and sales space was designed by Frank Nicholson Inc. of Concord, Mass. An 8-foot-high, interactive architectural model of the condominium portion of the 58-story tower initially greets prospective buyers and gives them a literal translation of what the views would be like in each of the units. More convincing is the actual model, which, among other details, gives nighttime views of what it would be like in a condo on the 42nd-floor of the tower. And since the decorated model is decked out with marble floors, sci-fi electronics, a fully operational kitchen and gas fireplace, it gives buyers the feel of what it would be like to live there. Condos will run from floor 28 to 58.

[SJPhillyBoy]

Good news. It would be a coup to get a building like this, almost 700 feet, built in these economic times.

[Plompy Lfeata]

wonderful news!

i sure hope they dont get stuck with a crappy economy in 12 or 13 though.. theres no guarantees that it will get better.

[pwp]

Let's keep our fingers crossed! This would be a beautiful addition to the skyline.

[BigDan35]

I normally would be very excited....but I'm not even getting my hopes up in the least. With so many projects I've seen in Philly and LA that have tanked because of the economy...I've learned that if I don't get excited about it, at least I won't be disappointed.

But...I do hope it gets built.

[Wheelingman04]

I normally would be very excited....but I'm not even getting my hopes up in the least. With so many projects I've seen in Philly and LA that have tanked because of the economy...I've learned that if I don't get excited about it, at least I won't be disappointed.

But...I do hope it gets built.

I totally agree.

[TechTalkGuy]

This is a smart design.

The rooftop garden looks promising.

At last, a real skyscraper near Broad Street.

It seems that Market Street and JFK Boulevard have dominated the skyline.

When will Broad Street begin to host some real skyscrapers?

[Cro Burnham]

When will Broad Street begin to host some real skyscrapers?

Maybe when they demolish some of the existing historic buildings that currently line the street in the CBD. Where would you suggest?

I assume you have been to Broad Street? Your question seems to indicate otherwise.

[hammersklavier]

fish, this skyscraper is being built on a lot to the immediate south of the Residences of the Ritz and right next door to the Girard Trust Tower; it's being built in proximity to the other City Hall-surrounding skyscrapers, near both Market and Broad.

Broad St. is our city's older core; the more low-slung neoclassical and Art Deco buildings are part of its charm. In older photos of Philadelphia, the center of development is along this stretch of Broad, the so-called Avenue of the Arts.

[We Got Five]

Broad Street skyscrapers could be a reality. Keep in mind, Dranoff is still planning his Symphony II project which was listed at 50 stories at Broad & Spruce streets.

[antim]

I noticed there was no mention of a starting date. My guess is that their bankers probably told them to sell some
units prior to funding.

Mahoney has sunk a lot of bucks into that site, and I don't think the parking lot is covering the nut. With that said, I
think these guys are for real, and determined to build.

This building will be a nice addition to the skyline. RATR was also nice but it could of used a little extra height.

[theWatusi]

This building will be a great compliment to RATR. It will be nice to go down Chestnut and not see a parking lot here.

[pwp]

This building is so damn beautiful. Their website has a new pic up in their collage animation. God I hope this thing gets built.

[Ninjawho]

I'm still not impressed...I'll have to see more pics before I make a final judgment tho...its just too...80s.

[Plompy Lfeata]

not impressed? ohhh, i think its one of the most beautiful towers being proposed or UC in the world, i love this building, it reminds me of chiefly tower in Sydney (sp?), which is also one of my favorite buidlings.. the ratio of concrete to glass is classy and perfect, its base is high scale and interacts well with the street, its my dream building lol.

haha, im not saying your wrong man, everyone has their opinion, and it may look 80's, i just like it alot :) of course you have a point, it can always be better i suppose

[Ninjawho]

not impressed? ohhh, i think its one of the most beautiful towers being proposed or UC in the world, i love this building, it reminds me of chiefly tower in Sydney (sp?), which is also one of my favorite buidlings.. the ratio of concrete to glass is classy and perfect, its base is high scale and interacts well with the street, its my dream building lol.

haha, im not saying your wrong man, everyone has their opinion, and it may look 80's, i just like it alot :) of course you have a point, it can always be better i suppose

well the thing is i don't feel like I've actually seen a legitimate "tower view" render of this thing. Its always from street level looking up or some weird angle. I think I'd be able to have a more concrete opinion if they just put out renders like everyone else does.

[TechTalkGuy]

Maybe when they demolish some of the existing historic buildings that currently line the street in the CBD. Where would you suggest?

I assume you have been to Broad Street? Your question seems to indicate otherwise.

Of course!

I would compliment S. Broad Street with Park Avenue in Midtown Manhattan with it's classical towers lining the avenue.

I would love to see something awe inspiring.

Philly just seems like there is only one designated skyscraper strip.

I am in favor of further development across the river near the Post Office.

The Cira Centre looks like a step in the right direction for the city.

I also champion the ideas of towers along the east side with the St. James leading the way.

Other promising areas I would love to see further development on are Spring Garden Street area, more mixed-use on Walnut/Locust Streets would be splended.

You could stretch further south towards South Street and space the high rise towers enough to offer views from every window.

Penn's Landing has potential along the Delaware while we await the Trump Tower for approval.

There is so much potential, I am more than certain that Mayor Nutter would be more than eager to support this agenda. He is a man of vision.
http://i6.photobucket.com/albums/y217/mr-fish/Miscellaneous/Cool.gif

[winxs]

For those of you who haven't seen them, here are the current renderings on the W=A website as of 3/4/09:

http://farm4.static.flickr.com/3325/3329394677_a8b87f1095.jpg?v=0http://farm4.static.flickr.com/3579/3329394847_e219715c0b.jpg?v=0

[Ninjawho]

For those of you who haven't seen them, here are the current renderings on the W=A website as of 3/4/09:

http://farm4.static.flickr.com/3325/3329394677_a8b87f1095.jpg?v=0http://farm4.static.flickr.com/3579/3329394847_e219715c0b.jpg?v=0

Like I said...weird angles...

[PhilliesTeam2Repeat]

When will Broad Street begin to host some real skyscrapers?

I know the Gentlemens agreement was broken in the early 80's, but I still think the City (and myself) want City Hall to be the dominate fixture up and down Broad. The tallest masonry building in the world shouldnt have any modern Supertalls near it (in my opinion).

With that being said......its ashame one of these beautiful towers (Ritz and Waldorf) isnt being built at the 8th and Market black hole. That is one major gap in the Skyline that is in desperate need of a 700+ footer.

[phillyscooter]

I agree; the rendering makes Chestnut Street look like a 6 lane boulevard in Los Angeles. It also feels a bit done before with the bump out. Overall, I like what is going on up top v. below...the garage is influencing a very boxy bottom...

[sciguy0504]

I think it looks grand. Hopefully, there will be a nice choice of materials. I'm glad it's not just glass.

[hammersklavier]

It looks to be very handsome, with lots of neo-Art Deco details along the base. Like I said before, get rid of that garage and do something more interesting with the lower floors, something that better deserves the Waldorf sitting atop it. This was, is, and remains to be my main problem with this building, and very few buildings are able to successfully disguise their podiums enough to not mar the visual experience...The only time when podiums ought to be built is when it's physically infeasible to bury them underground, like on the waterfront.

[bucks native]

I read somewhere, recently, that one of the Lenfests bought a condo at Liberty II.

Image: http://media.philly.com/images/300*396/20090508_inq_wladorf08-e.JPG

CLEM MURRAY / Staff Photographer
A parking lot now occupies the space where the now-delayed Waldorf Astoria hotel complex was to go.


from here: http://www.philly.com/inquirer/business/homepage/20090508_Planned_Waldorf_Astoria_complex_put_on_hold.html


Fri, May. 8, 2009

Planned Waldorf Astoria complex put on hold

By Suzette Parmley
Inquirer Staff Writer

The 58-story Waldorf Astoria Hotel planned for 1441 Chestnut St., next to the Ritz-Carlton in Center City, is officially on ice.

The $420 million project was to include upscale retail, a signature restaurant, seven floors of valet parking, and a spa, as well as 136 luxury condos, starting at $1 million, above a five-star hotel.

Timothy J. Mahoney III, president and chief executive officer of Mariner Commercial Properties Inc., of Ardmore, has sold his stake in the project to his partner, Brook Lenfest of Brooks Capital Group, of Bala Cynwyd.

"We realized there were structural problems in the marketplace right now, including the credit markets, softening prices, and oversupply of competing inventory," Mahoney said yesterday, in confirming his decision to sell his 50 percent stake to Lenfest two weeks ago. "We needed to come up with a strategy, and we couldn't see eye to eye on one."

The change in ownership, along with a deteriorating luxury-condo market and lack of lending, makes the timing for the project an unknown.

The Waldorf is one of nine major hotel projects proposed for Center City that have now either been delayed or indefinitely put on hold.

The former partnership envisioned a Waldorf Astoria Hotel & Residences complex on the half-acre site next to the Residences at Ritz-Carlton Tower, next to its namesake hotel.

Mahoney said in late October that his target condo buyers would be well-to-do empty nesters abandoning big homes in the suburbs for the big city.

He originally estimated construction on the project to start in January with co-developer Gatehouse Capital Corp., a national real estate investment and development firm based in Dallas. The hotel was expected to open in the summer of 2012.

Lenfest said that Gatehouse was no longer involved and that construction was not likely to start anytime soon.

"It's impossible to get lending for this," Lenfest said yesterday. "There's just no access to capital right now. Even if I pre-sold 100 percent of the residential units, I couldn't find a lender today."

Lenfest said he was still under a management contract with Hilton Hotels Corp., which owns the Waldorf brand, to fly the Waldorf flag at the proposed hotel.

"We're still committed to the project," said Kimo Bertram, director of development for Hilton. "We're in support of the developer to get the project finished."

Lenfest said that a $6.1 million sales office for Waldorf Astoria condos, housed at the former Sharper Image building at 1518 Walnut St., never opened because of dismal market conditions.

It could be a long wait, say hospitality experts. Besides the luxury-condo market cooling considerably, the luxury-hotel sector is struggling. The sector reported a 12.6 percent decline in average daily rates, the highest among the city's five hotel sectors in March, and an 18.4 percent drop in revenue per available room, the second-highest decrease, according to Smith Travel Research.

"Times are admittedly difficult right now for prospective hotel developers," said Peter Tyson of PKF Consulting in Center City. "Travel levels are down due to the economy, and most traditional financing sources are lying in the weeds waiting for someone to make the first loan."

For Mahoney, relinquishing the project was not easy. He spent nine years assembling the land and coming up with the concept for the Waldorf, but economic realities and a generous offer persuaded him to sell.

"The big unknown is what happens with commercial mortgage-backed securities," he said. "There is no market right now.

"As long as that is shut down, there is going to be a further drag on capital's willingness to fund new projects, and particularly, very large complex projects like ours was. It's not ours anymore," he said.

"It's completely Brook's baby now."

[Pennsgrant]

Now that Mahoney is out of the picture this project might actually have a chance.

Now if we can get someone to buyout 1601 Vine from Grasso that might be 2 projects that see the light of day.:cool:

[We Got Five]

The same will be said for ACC...no one is building anything without a loan.

[phillyscooter]

The irony of the Mahoney departure and how the site could have been one parcel with RATR...;) well, hopefully this delay will get rid of the garage podium box baloney....

[Skintreesnail]

Not sure if this means anything, but I saw that the Philadelphia opening is scheduled for 2013 on the Waldorf Astoria website:

http://www.waldorfastoria.com/future-openings/index.cfm

[pwp]

Not sure if this means anything, but I saw that the Philadelphia opening is scheduled for 2013 on the Waldorf Astoria website:

http://www.waldorfastoria.com/future-openings/index.cfm

Nice find. The original posting found here (http://forum.skyscraperpage.com/showthread.php?t=160185)lists a Spring 2012 opening. Hopefully this 2013 opening is a firm date the company is now using as I believe it was/is on-hold due to the recession.

Good stuff if this is moving forward!

[hammersklavier]

Not sure if this means anything, but I saw that the Philadelphia opening is scheduled for 2013 on the Waldorf Astoria website:

http://www.waldorfastoria.com/future-openings/index.cfm
I don't think it means anything. Maloney already closed up the sales shop...Waldorf is either being exceptionally optimistic or hasn't updated their new openings in a while.

[We Got Five]

Lenfest is solely behind this project now...no one has heard a peep since April 08'.

[xzmattzx]

I'm guessing that this is right near City Hall?

Also, it looks like there's a lot of EMB members on this site. When did you all get here? I've been on here for a while now.

[relnahe]

Lenfest is solely behind this project now...no one has heard a peep since April 08'.

If Lenfest is behind this project it WILL happen. He has enough money to buy and populate small planets.

[shakman]

I'm guessing that this is right near City Hall?


About a block away. This will be on the same block as the recently completed Ritz Carolton Residence.

[hammersklavier]

If Lenfest is behind this project it WILL happen. He has enough money to buy and populate small planets.
But do you think Lenfest is willing to fund this solely from his private coffers? If he was, don't you think construction would have begun immediately upon approval?

[shakman]

But do you think Lenfest is willing to fund this solely from his private coffers? If he was, don't you think construction would have begun immediately upon approval?

Funding is one thing, however what is most important is how much positive cash flow can this structure provide for the developer upon completion.

[volguus zildrohar]

I just came across these photos of a scale model of the building.

From Howard Architectural Models (http://www.howardmodels.com/Architectural-Scale-Models/waldorf-astoria-residences-philadelphia/Waldorf-Condominiums-Philadelphia.html):

http://www.howardmodels.com/Architectural-Scale-Models/waldorf-astoria-residences-philadelphia/Waldorf-Astoria-Residences-Philadelphia.jpg

http://www.howardmodels.com/Architectural-Scale-Models/waldorf-astoria-residences-philadelphia/Waldorf-Astoria.jpg

http://www.howardmodels.com/Architectural-Scale-Models/waldorf-astoria-residences-philadelphia/Philadelphia-Condominiums.jpg

http://www.howardmodels.com/Architectural-Scale-Models/waldorf-astoria-residences-philadelphia/Waldorf-Astoria-Residences-Philly.jpg

http://www.howardmodels.com/Architectural-Scale-Models/waldorf-astoria-residences-philadelphia/Waldorf-Condominiums-Philadelphia.jpg

[We Got Five]

Great find VZ! The detail on those models is amazing.

[cubanChris]

Ditto on the good find - sure hope it comes to fruition one day, that 670' would have a significant impact on the skyline =)

[teeheee]

The detail on those models is amazing.

Except that the cars are going the wrong way!

[cubanChris]

:previous:

Didn't you know? In the year 2000 all cars will drive in reverse...

http://www.mostlymatt.com/uploads/2009/09/conan-year2000.jpg

http://www.youtube.com/watch?v=MJXn13-bTlU&sns=em

[CHAPINM1]

I love the design of this one! A hell of a lot better than the previous one for sure! I really hope this one gets built to say the least...

[Wheelingman04]

Please get built

[We Got Five]

http://online.wsj.com/article/SB10001424052748703435104575421742394305602.html

[M II A II R II K]

This goes to the Cancelled Archive section.

[SkyscrapersOfNewYork]

too bad it was a nice design....