PA Hotel Development Timetable Remains Uncertain

CENTER CITY, PA— New York developer Tony Goldman has shelved plans to restore the historic Divine Lorraine Hotel here, but the project may go ahead without him as he announced the sale of the property to an unnamed developer, reports The Philadelphia Inquirer. This prospective buyer has asked to remain anonymous until he completes a study of several development scenarios over the next 45 days, Goldman stated to the press. The only concrete comment Goldman did make was to say that the buyer would develop the building and its annex. Goldman bought the property for $2 million early 2000 from followers of Father Divine, the Philadelphia religious and civil-rights leader, and their heirs, who owned the site. SOURCE: The Philadelphia Inquirer