Top Floors to be Converted into 100 Condominiums
PHILADELPHIA (September 27, 2005) – A major transformation is planned at the historic Radisson Plaza-Warwick Hotel Philadelphia, 1701 Locust Street in Center City Philadelphia. Of the 545 rooms, 290 will be completely renovated. The hotel will be operated as a 4 diamond property. The remaining rooms will be converted into luxury condominiums. The hotel was historically named the Warwick Hotel and became the Radisson Plaza-Warwick Hotel in 2001.
The renovation and conversion, which is expected to cost more than $15 million, is scheduled to begin in early 2006 and be completed by fall 2006. The lobby, Grand Ballroom, Crystal Ballroom and mezzanine level, will be completely upgraded. In addition, a state-of-the-art fitness center and club lounge will be added. All of the newly renovated rooms will be upgraded to include luxurious furnishings, features and appointments. The majority of the rooms will be fitted with Radisson’s new custom designed Sleep Number beds by Select ComfortTM with lush new linen sets. A dynamic new restaurant will replace Circles off the Square.
Carlson Hotels Worldwide, Allan Domb Real Estate and Frankel Enterprises, have announced that the top eight floors of the hotel (floors 14 through 21) will be converted into approximately 100 luxury condominiums including studios, one, two and three bedrooms. Buyers can purchase condominiums completely finished with top of the line appointments such as state-of-the-art kitchens, hardwood floors and stone bathrooms. Early buyers can purchase the space “as is” and hire a builder to customize and design their own home, if they wish.
“Our vision for the condominiums is, ‘your home-your way,’ ” said Bill Frankel, co-owner, Frankel Enterprises. “It will be one of the only condos in Philadelphia that allows owners to design their own custom home. We expect that design flexibility plus hotel amenities including concierge and room service, a doorman and fitness center, along with the ideal location in the Rittenhouse Square area will make it the place to live in Center City Philadelphia.”
Interestingly, Frankel Enterprises owned the hotel from 1978 to 1998. Frankel is also known for upscale developments throughout the area, including William Penn House, Kennedy House, 220 West Rittenhouse Square, Parkway House and the Wellington Apartments. Frankel Enterprises’ latest project is Admirals Cove in Jupiter, FLA.
Allan Domb Real Estate has been the dominant player in the Philadelphia condominium marketplace for the past 25 years. Allan's real estate company sells more luxury Center City properties than any other realtor. In terms of overall sales volume, Allan Domb Real Estate is one of the most successful brokerage firms in the US. In addition, Allan is the developer of The Barclay Condominiums, The Lanesborough, and 220 Washington Square (The Saunders Building).
For more information about the condominiums, contact: Allan Domb Real
Estate at 215/545-1500 or Bill Frankel at 215/751-0900.
Built in 1926, the Warwick Hotel, with its English Renaissance architecture, is listed on the National Register of Historic Places. The full-service hotel is known for its elegant lobby with its sweeping staircase and matching fireplaces. Radisson assumed management of this historic, downtown landmark in July 2001 and matched the old world charm with new business necessities ranging from express check-in capabilities, to the Gold Points Plus program for frequent guests to high-speed internet access (which will be free starting in January 2006). For more information, visit www.radisson.com/philadelphiapa.
Radisson Hotels & Resorts
|Also See:||The 75 Year-old Warwick Now Brandishes the Radisson Name / Feb 2002|
|April 2005 Occupancy Hit 84% for the Philadelphia Center City Hotels and 86% for Philadelphia Airport Hotels / June 2005|