The operator of the Standard Hotel, which straddles New York’s High Line, has a deal to run the historic Family Court building near Logan Square after its conversion into a luxury hotel.
Journal Hotels, which also owns the Mondrian Park Avenue hotel in New York and the Hollywood Roosevelt hotel in Los Angeles, has been contracted by developer Peebles Corp. to operate its planned hotel at 1801 Vine St., Peebles chief executive R. Donahue Peebles said Monday.
The 203-guest-room hotel in the 78-year-old Beaux Arts building will have a similar boutique vibe to the city’s Monaco and Palomar hotels run by Kimpton Hotel & Restaurant Group Inc., Peebles said, “but with a bit more New York, L.A. to it.”
Peebles, whose Coral Gables, Fla.-based company was awarded the project in 2014 after a competitive bidding process, said the redevelopment work could begin as soon as late June, provided it is successful in obtaining at least $1.5 million in additional grant funding sought from the state’s Redevelopment Assistance Capital Program.
The funding shortfall that the grant money would fill is the result of plan adjustments needed to qualify for Federal Historic Preservation Tax Incentives and changes to the incentive program from the 2017 tax law that made it less valuable, Peebles said.
The courthouse hotel, which has yet to be named, will include event space, as well as restaurants and bars. Peebles said that at least some of these venues will be managed by Journal, but that it has been discussing options with restaurant groups — including ones based in Philadelphia — as well.