OCEAN CITY, NJ Philadelphia real estate entrepreneur James Dwyer is putting the finishing touches on five luxury penthouses atop the Flanders Hotel here, which will serve as a prototype for two luxury hotels he plans to build in Philadelphia. Dwyer said he is also planning a $25 million, 150-suite, 12-townhouse and 350-car garage addition to his 95-suite Flanders Hotel.
The larger of Dwyer s two planned hotels will be developed with an unidentified joint venture partner. The hotel will have 258 rooms and will be a conversion of an office building Dwyer paid $8 million to acquire. The second hotel will be a conversion of the 18-story Jewish Federation Building Dwyer bought for $3.2 million into either a 54- or 84-room hotel. (31/01)
SOURCE:The Philadelphia Inquirer