February 23, 2023

By Jake Blumgart

Gowtham Reddy has big plans for Philadelphia, and the latest is an 81-unit short-term rental apartment building in Chinatown.

The seven-story building is planned to rise from what is now a parking lot at 13th and Summer Streets and includes a restaurant on the ground floor, a double-decker roof deck, and an option to stay for weeks, months, or years.

“I build these as upscale luxury apartments, but we run them more or less like hotel, corporate-stay accommodation,” said Reddy, CEO of Genesis Capital. “We cater to the new class of professionals who are not tied down, who don’t look to buy houses with the white picket fence.”

View Story