Historic Elkins Park Estate To Become Luxury Hotel, Restaurants

ELKINS PARK, PA — A historic 42-acre estate in Elkins Park has been sold to developers who plan to build a luxury hotel, restaurants, an event center, and more.

The estate, purchased for $6 million by Landmark Developers in a deal brokered by Avison Young, had been discussed as a redevelopment project for years. Word got out this summer that a deal was close.

“In addition to adding to the vibrancy of Cheltenham Township and its tax base, our investment into Elkins Estate will create 120 new jobs within the community,” Scott Grogan, Chief Financial Officer of Landmark Developers, said in announcing the deal. "This is a transformative project that the township will be proud to call their own."

The estate was built in 1898 for William Lukens Elkins, a businessman and inventor. It was designed by famed architect Horace Trumbauer. It later became the home of the Dominican Sisters of St. Catherine de Ricci. Landmark said they plan to preserve "six or seven" of the original historic buildings on the property.

The developer intends to spend between $20 and $25 million on renovations, which will include a 110-room luxury hotel, five guest cottages, an indoor and outdoor restaurant, a wellness center, spa, helipad, and event center.

In addition to creating jobs, officials are hopeful the purchase will spur an economic boon.

"Landmark Developers’ investment in the site will be a catalyst for additional investment in Elkins Park," Adam Gillespie, a broker with Avison Young, said in a statement. "Landmark has a storied history of restoring properties and breathing new life into neighborhoods."

The development could continue nearby; the adjacent property, the former Temple Tyler School of Art, is also being brokered for sale by Avison Young.

While talks to sell Elkins Estate have been ongoing for some time, they were reliant upon "Tax Increment Financing" for the property. Because the property was previously owned by a non-profit, no property taxes were due; under Tax Increment Financing, the new owners do not have to pay full taxes immediately, and they are instead introduced "incrementally" over a 20-year period.

The Cheltenham Township School Board agreed to this in February.

No timeline for the new construction has yet been announced.