47-Story Hotel/Condo Building Set For South Broad Street

Map of Pennsylvania highlighting Philadelphia ...

Map of Pennsylvania highlighting Philadelphia County (Photo credit: Wikipedia)

The developer Carl E. Dranoff is partnering with Los Angeles-based SBE Entertainment Group to build a 47-story, mixed-use luxury boutique hotel and condominium tower at Broad and Spruce Streets, across from the Kimmel Center, for more than $200 million.

The 422,838-square-foot SLS International, which Dranoff said would be Pennsylvania’s “tallest structure built for residential use,” is being designed by New York-based architecture firm Kohn Pedersen Fox Associates, whose chairman, A. Eugene Kohn, is a Philadelphia native.

The tower will rise 562 feet – 14 feet higher than the City Hall tower. Construction is expected to start next fall and take two years.

Dranoff said approvals for the project were at “the 3-yard line,” with Councilman Mark Squilla set to introduce legislation in City Council to extend the zoning designation CMX-5, which allows a higher building floor area in relation to the lot, past Spruce Street to Pine Street.

Read more at http://www.philly.com/philly/classifieds/real_estate/20131217_47-story_hotel_condo_building_set_for_South_Broad.html#IlL8VeqUSgPMoCJT.99

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