HELL'S KITCHEN — Two development companies are planning to trade parking spaces for beds in the hopes of turning a profit.
The developers say they plan to build a 300-room hotel on the lot. The area is typically swarming with tourists coming in from Penn Station and the Port Authority Bus Terminal, or headed to Madison Square Garden. Developers want to begin construction on the new hotel later this year.
That block of West 37th Street is on track to become a hub for new hotels. Right across the street, Marriott is currently building the 224-room Courtyard Marriot Times Square West hotel in a similarly-sized empty lot.