Abbonizio Contrac tors, Inc. completed all earthwork, shoring of excavation and underpinning work of the former parking lot and replaced with the 51-s tory skyscraper charged with holding a dual-brand hotel development consisting of the 295-room W Philadelphia and 460-room Element Philadelphia.

The W/Element project was developed by Vine Street Matthews Development but is owned by Chestlen Development. Starwood Hotels & Resorts will be managing the property. Funding for the $280 million development was made possible with the help of $33 million in tax increment financing and, according to the Philadelphia Business Journal’s Natalie Kostelni, $160 million in loans.

The building will have banquet facilities, an outdoor pool bar and terrace, and food and beverage outlets, as well as retail space along Chestnut Street. And make no mistake: the two hotels may occupy the same space, but they will maintain their distinctive styles and offer different amenities  to their guests.