Development giant Carl Dranoff unveiled more details about
his new plans for South Broad Street.
The Philadelphia Inquirer reported that Dranoff is building
a $200 million, "47-story, mixed-use luxury boutique hotel and
condominium" across from the Kimmel Center at Broad and Spruce Streets.
Called SLS International, the project is a partnership with
SBE Entertainment Group. The structure is almost 423,000 square feet and will
be 562 feet tall.
In October, PBJ real estate reporter Natalie Kostelni
reported that Dranoff was looking to assemble multiple parcels along South
Broad Street — also known as the Avenue of the Arts — at Spruce Street and
Cypress Street.
This project would continue to define an ever evolving
Avenue of the Arts, which has its arts and cultural anchors firmly established
and is gradually rounding out other facets of the street by adding more
residential and retail.
Source: Philadelphia
Business Journal
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