PHILADELPHIA — A 58-story Waldorf=Astoria Hotel and Residences has been announced for Philadelphia.

The $420 million mixed-use project will be developed by Ardmore, Pa.-based Mariner Commercial Properties, Brook J. Lenfest and Dallas-based Gatehouse Capital Corp. The property will be managed by an affiliate of Hilton Hotels Corp. Located at the northeast corner of 15th and Chestnut streets, the Waldorf=Astoria Hotel and Residences Philadelphia will feature 175 guest rooms, 136 residences, and retail and restaurant space.

“The Philadelphia real estate market has seen a surge of new luxury housing in recent years,” says Tim Mahoney, president and CEO of Mariner Commercial Properties. “The Waldorf=Astoria Philadelphia will be the first vertically integrated mixed-use building that offers residents and guests alike the same five-star treatment and access to the hotel’s finest amenities.”

The project will be the city’s sixth-tallest building and is to be designed by Cope Linder Architects of Philadelphia. Sustainability will be a priority, as the granite and glass tower will feature vegetative roof systems, and an active chilled beam HVAC system.

Amenities will include 8,100 square feet of ballroom space, 3,500 square feet of pre-function space overlooking City Hall, and a sky lobby reaching 155 feet above street level. Residences will include one-, two-, and three-bedroom plans, internal private elevators, and 24-hour concierge and room service.

“Philadelphia is a beautiful city and truly epitomizes everything that is classic about the Waldorf=Astoria brand, Mahoney said. The fact that Hilton Hotels Corp. has selected Philadelphia as one of the first locations for its luxury Waldorf=Astoria Hotels brand only serves to underscore the point.”

The project is expected to open in 2012.

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