Tutor Perini Building Corp. Awarded $239M Contract for W and Element Hotel
PHILADELPHIA, PA announces that the Philadelphia, Pennsylvania, office of its subsidiary, , has been awarded a contract to build the new W and Element hotel development in Center City Philadelphia, for Chestlen Development. Vine Street Matthews, a joint venture between and , is the developer of this project. The contract is valued at approximately $239 million.
The W and Element hotel development will consist of a 51-story, 769,704-square-foot, 755-room dual-branded hotel complex operated by Starwood Hotels and Resorts Worldwide, Inc. Element Philadelphia will feature 460 rooms and a 6,392-square-foot sky lobby, and W Philadelphia will feature 295 rooms, a 2,900-square-foot spa, a 3,505-square-foot outdoor pool and deck, a 1,590-square-foot pool bar, and a 2,974-square-foot garden area. The project will also include approximately 1,731 square feet of street-level retail and three levels of below-grade structured parking, for a total of 179 spaces. is the project designer.
First introduced in 1998, W Hotels is an innovative luxury lifestyle brand and a global design powerhouse with more than 46 hotels and retreats in the world's most vibrant cities and exotic destinations. On track to triple its portfolio by 2017, Element is recognized as an industry leader in the eco-space and offers travelers a fresh, reimagined interpretation of the extended stay hotel experience.
Construction began in April and substantial completion is anticipated to occur in the first quarter of 2018. The project is expected to achieve LEED certification. The contract value was included as part of the company's reported first-quarter backlog.
Tutor Perini's top local Executive, , said, "After years in the making, Tutor Perini Building Corp. is proud to be building this long-awaited addition to Center City and continue our track record of building high-profile projects in Philadelphia."