The Buccini/Pollin Group, Inc. selected Method Co., a Philadelphia-based real estate and hospitality company, to operate a new boutique hotel at 519 N. Market Street at the southern end of downtown Wilmington.
The hotel is scheduled to open in the first quarter of 2022, although developers confirm the project is in its early stages.
According to a fact sheet from Method Co., the new luxury boutique hotel will feature 24 rooms in addition to three food & beverage concepts, including Wilmington’s first rooftop lounge and event venue, a ground-floor restaurant, and a lower-level cocktail lounge.
All concepts will be operated by Method Co., a real estate management, development, and design firm rooted in hospitality.
Method Co. and BPG are collaborating on the property’s design and architecture with Philadelphia-based firm Stokes Architecture. The project involves the historic renovation and adaptive reuse of 519 Market Street, a building with a storied history as the Security Trust & Safe Deposit Company Building, a two-story Victorian Romanesque brownstone designed by architect Frank Furness.
Furness was the architect for the Wilmington Train Station.
Method Co. is responsible for the Roost Apartment Hotel brand, the high design, extended stay concept, which currently operates three locations in Philadelphia including Wm. Mulherin’s Sons, an Italian restaurant and four-room boutique hotel in Fishtown, along with its sister restaurant Hiroki, a Japanese omakase concept; and Whyle, a new luxury furnished apartment brand with one location in Washington, DC.
The company plans to open more Roost concepts and boutique hotel properties in markets like Charleston, Tampa, and Detroit.
“We are incredibly excited to build on all the momentum that is underway in the city of Wilmington and to be part of bringing one of the region’s most iconic buildings to life. The hospitality nature of our project, with a boutique hotel and several restaurant concepts, will offer different experiences to be enjoyed by locals and visitors alike. There is a certain level of enthusiasm that is pervasive in the entire team involved in a project of this nature and we are thrilled to be nearing the day where we can invite everyone to what we hope becomes an institution for the city and region.” stated Randall Cook, CEO/founder of Method Co.
Buccini/Pollin Group referred inquiries to Method. The developer has been shifted its focus to the southern end of downtown after developing apartment projects on the north end of Market St.
The Philadelphia Business Journal (subscription) reported the luxury property will include a coffee shop and an Italian Restaurant. BPG partner David Pollin indicates that other restaurants are coming to downtown, including a steakhouse.
Last week, the company unveiled a nearby high and mid-rise apartment complex at Fifth and Shipley streets. (Click on the headline below)