The idea to turn a 30± space parking lot into a 250-room micro hotel just made sense. In recent years, Philadelphia has been on an upward trend from both a residential and retail standpoint and Parkway, with its Partner, Modus Hotel had the foresight to address the emerging need for short-
Parkway initiated this project by prevailing in a public RFP process with a proposal for a $150 million urban mixed-use project across from the National Aquarium on Baltimore's Inner Harbor.
Parkway developed this asset by converting a long-held, profitable surface lot into a key element of a vibrant retail, hospitality, convention and parking hub in Center City Philadelphia.
After this obsolete Center City Philadelphia asset had been empty for 20 years, Parkway approached the owners with a concept for its adaptive reuse including parking.
Parkway Corporation was consulted on this project by the developer, Azure Developments, who had just completed a complicated and lengthy approvals process for a major new development in the midst of a section of the city that was known up to that time f
Over the years, Parkway Corporation has developed projects despite challenges thought to be insurmountable.