Philadelphia Construction Law Blog

Funding for public school construction and maintenance projects has been delayed by the months- long budget gridlock in Pennsylvania. Although the Commonwealth’s budget was recently approved, a related funding bill providing for more than $306 million in construction reimbursements due to Pennsylvania school districts was vetoed. School districts may now be faced with getting, or extending, financing for past and ongoing construction projects until legislation authorizing the reimbursements is finalized. It is unclear how this may affect future construction projects planned by Pennsylvania schools.

Realen Properties is partnering with New Orleans developer HRI Properties, a company that specializes in renovating historic structures, to convert the Liberty Title & Trust building at 101 N. Broad St. into a hotel. Realen presented plans on Wednesday to the Philadelphia Art Commission for a 179 room hotel under Starwood Hotels & Resorts’ Aloft flag at the 21-story 1920s building. The building will have direct access to the Pennsylvania Convention Center. Completion is expected in spring of 2017.