Quote:
Originally Posted by Larry King
If I was carl, I'd drop the hotel portion and do all condos. I think the condo market in CC is strong for good product... our city doesn't have the outsale prices to support a hotel as well. For example at extell's one57 in nyc, the hotel portion isn't the real money maker, it's there because it boosts the value of the condos on the higher floors, condo prices here aren't enough to subsidize a hotel like they did at one57.
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That's probably a good idea, although Philly is not New York. We don't have a "billionaire's row" of any sort. Of the top 10 tallest buildings in the city (including City Hall) only one is completely residential, and one has some residences in it. If the condo market in Philly were to increase, we would certainly see more buildings start coming up. Plus, with the Cambria and W Hotels under construction several blocks away, there's a lot of competition.