Today's Inq confirms what we have heard. The developers seem to have indeed had a plan for a five story hotel had they been allowed to demolish through de-listing.
Remember the question was asked directly to Lussenhop. Did you try to get the building demolished? And his answer was no. http://www.philly.com/philly/columnists/20080222_Changing_Skyline__Developers_in_the_city_-_Hard_to_hold_em_down.html
