July 25, 2016
The 769,704 square foot, 51 story dual-brand hotel, owned by Chestlen Development LP and financed with help from PIDC, is set to complete construction spring 2018. This former parking lot will house the 295 room W Philadelphia and the 460 room Element Philadelphia; creating over 750 new hotel rooms within walking distance of the Philadelphia Convention Center and the retail corridors on Chestnut and Walnut streets.
The W Philadelphia will offer a destination restaurant with 150 seats on the ground floor and a 7,000 square foot wet entrance with a year-round heated outdoor pool, while the Element Philadelphia will offer a complimentary bikes to borrow program and a 6,392 square foot sky lobby. These hotels will generate tax revenue for the city, create over 500 new jobs and attract visitors and business meetings to Philadelphia.