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Philly Probably Won't Be Getting That Waldorf-Astoria After All

So, remember how we told you that Philly was going to get a Waldorf-Astoria? Yeah, well, maybe not.

The building — which was set to be all done in 2012 — was going to have 136 residences (starting at around $1 million) and 175 guest rooms, plus a 14,000-square-foot spa fitness center with an indoor pool, two cocktail lounges, two restaurants and a seasonal outdoor restaurant and cocktail terrace.

But the $420-million project, unsurprisingly, has been put on hold — with a pretty sad-looking future. According to the Philadelphia Inquirer, construction was supposed to start in January but the folks behind the project realized there were "structural problems in the marketplace right now," there was a change in the hotel ownership and, no doubt also due to the dismal state of the luxury hotel market right now, things got put on hold — indefinitely.

Though Hilton says they're still "committed to the project" and the owners remain under a management contract with Hilton to fly the Waldorf-Astoria Collection flag at the hotel, we're not gonna be holding our breath on this one.