Boutique hotel planned for Queen Village

Walking around the blocks that neighbor the intersection of Fifth and Bainbridge streets, there are pretty much three answers to the question Have you heard about the hotel thats coming?

They are: What hotel?, Yeah, the yuppies are coming and Its going to be great. Despite the business deathtrap that seems to inhabit the southwest corner of the intersection (former home to Adsum, Tapestry, Coquette and a Thai place), developer Ilan Zaken sees potential in a sizable chunk of real estate across the street.

When these buildings became available, I did not initially see the opportunity for the hotel concept, Zaken said. It evolved when I saw that there was a definite need for a neighborhood-oriented boutique hotel which was intimate and reasonably priced with a good restaurant for the corner location. The remainder of the Fifth Street properties will be retail on the ground floor with apartments above.

When John C. Paul initially invested in a headquarters for his bag business, this neighborhood was drastically different. In fact, when the structure at 632 S. Fifth Street was built in 1920, the address where Paul & Sons operated a paper company for almost a century, the nearly 3,900-square-foot property likely sold for four figures. Zaken spent $2.2 million two Octobers ago and plans to convert the listless corner into an attractive mixed use site. One can imagine that when the inheritors of a dying business in Queen Village decided they didnt want to keep it alive, there was plenty of incentive to sell.

I suspect the previous owner bought the property for a few thousand dollars decades ago, Michael Hauptman, an architect and the chair of the Queen Village zoning committee, said. $2.2 million must have looked pretty good.

To some area residents and business owners, this sale and large-scale rehabilitation is a sign of the times. Ground has already been broken on the Kater Street side of the property that will house 28 hotel rooms, five luxury residential apartments, and 7,000 square feet of first floor retail space. The ideal completion date is sometime this summer, but chances are there wont be any guests, diners, or shoppers on the northwest corner of Fifth and Bainbridge streets until next spring or summer.

What about a name?

My favorite right now is Zaken Boutique Hotel, Zaken said. We are now projecting for a 2015 spring or summer opening depending on the progress of the construction. We have been working on the adjacent properties and finalizing the plans for moving forward with construction full force once we are in agreement on the final look.

The developer is no stranger to the area. Zaken opened a retail clothing store on South Street in 1989 and has been investing in property for the past 15 years. Recent projects include Center Citys Cella Luxuria, which sells high-end furniture and accessories, and the Net, 501 South St., and 609 E. Passyunk Ave.

Hauptman referenced the impending facelift the Bainbridge Green will receive and expressed confidence that the hotel will fit in quite nicely.

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Boutique hotel planned for Queen Village