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Fresh Prince Bails Out Of Philly Hotel Project

Looks like "Willenium" wasn't the only stupid thing Will Smith did in the year 2000.  That same year the actor/rapper, and his brother, bought a down trodden property in Philadelphia's Society Hill, with the dream of developing the building as a big time hotel.  

The Smith bro's, both Philadelphia natives, secured millions in tax incentives from the city to get the project going, but recently, a plunge in Philadelphia hotel business scared the hell out of Big Willie style, and the brothers flipped the land.  Don't worry about Will's financial well being, the siblings sold the project for about $10.5 MM, or three times what they bought it for.

See Hollywood?  This hotel thing is harder than it looks.  However, it should ease your worried minds to know that you can always dupe city officials, using your big time movie personas, and get a town to throw tax incentives at you, then use those tax incentives for your own financial gain, and bail out of a project.  Of course, we are not saying that is what happened in Philadelphia.