{"id":1004052926,"date":"2011-09-25T18:38:43","date_gmt":"2011-09-26T02:38:43","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=18295"},"modified":"2022-12-02T04:26:43","modified_gmt":"2022-12-02T12:26:43","slug":"hotel-monaco-breaks-ground-in-philly-cooper-university-hospital-opens-new-condo-for-employees","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hotel-monaco-breaks-ground-in-philly-cooper-university-hospital-opens-new-condo-for-employees\/","title":{"rendered":"Hotel Monaco Breaks Ground in Philly; Cooper University Hospital Opens New Condo for Employees"},"content":{"rendered":"<p style=\"text-align: justify\">By Veronica Grecu, Associate Editor<\/p>\n<p style=\"text-align: justify\">The <em>Philadelphia Inquirer <\/em>reports that one of the city\u2019s historic buildings located at Fifth and Chestnut Streets will be converted into a luxury hotel. During the groundbreaking ceremony that was held at the site last week, Mayor Nutter welcomed the $87 million redevelopment project that aims to transform the 195,000-square-foot Lafayette Building into a new four-star Hotel Monaco. Apart from its ambitious conversion plans, the project will also have an impact on the local economy by creating 200 permanent jobs and 400 construction jobs.<\/p>\n<div class=\"mceTemp\" style=\"text-align: justify\">\n<dl>\n<dt><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2011\/09\/hotel-monaco-philadelphia.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-18299\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2011\/09\/hotel-monaco-philadelphia.jpg\" alt=\"\" width=\"300\" height=\"235\" \/><\/a><\/dt>\n<dd>Photo by G. Widman for GPTMC<\/dd>\n<\/dl>\n<\/div>\n<p style=\"text-align: justify\">With 268 guest rooms overlooking Independence Mall, Hotel Monaco will be one of only two city hotels to open next year. The developer, Kimpton Hotels &amp; Restaurants of San Francisco, purchased the 11-story vacant Lafayette Building from New York-based Northern Group in October last year for $11.5 million, according to the <em>Inquirer<\/em>. Once completed, the new boutique hotel will feature a 130-seat chef-driven restaurant at the corner of Fifth and Chestnut Streets, 14,000 square feet of meeting space, 3,200 square feet of ballroom space and a rooftop lounge designed to accommodate up to 250 people.<\/p>\n<p style=\"text-align: justify\">The <em>Philadelphia Inquirer<\/em> also notes the opening of a new 25-unit condominium complex in Camden\u2019s Cooper Plaza neighborhood. The $7 million housing project developed by Newark, N.J.-based M&amp;M Development L.L.C. for several employees of the Cooper University Hospital includes one- and two-bedrooms units, a fitness center, a clubhouse and a rooftop garden.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Veronica Grecu, Associate Editor<br \/>\nThe Philadelphia Inquirer reports that one of the city\u2019s historic buildings located at Fifth and Chestnut Streets will be converted into a luxury hotel. During the groundbreaking ceremony that was held at the site last week, [&#8230;]<\/p>\n","protected":false},"author":258,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1494],"tags":[],"class_list":["post-1004052926","post","type-post","status-publish","format-standard","hentry","category-latest","category-philadelphia"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Hotel Monaco Breaks Ground in Philly; Cooper University Hospital Opens New Condo for Employees - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/hotel-monaco-breaks-ground-in-philly-cooper-university-hospital-opens-new-condo-for-employees\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hotel Monaco Breaks Ground in Philly; Cooper University Hospital Opens New Condo for Employees\" \/>\n<meta property=\"og:description\" content=\"By Veronica Grecu, Associate Editor The Philadelphia Inquirer reports that one of the city\u2019s historic buildings located at Fifth and Chestnut Streets will be converted into a luxury hotel. 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