By Mike Dunn

PHILADELPHIA (CBS) – The number of developers in the running to turn the old Family Court building on the Parkway into a hotel has been trimmed from five to three.

Family Court will vacate its historic building at 17th and the Parkway during the summer of 2014, and now three firms remain in the running to remake the site into a hotel.

“We’re really at the beginning of the process to evaluate those proposals, have a chance to interview them, gather input, and we hope to continue that process through the fall and towards the end of the year,” says head of the Philadelphia Industrial Development Corporation John Grady, who is overseeing the effort.

The finalists are Kimpton Hotels, Fairmount Hotels who is working with local developer Ken Goldenberg and Starwood Hotels who is working with local developer Carl Dranoff.

The city envisions a luxury hotel with about 200-300 rooms and Grady hopes construction would be complete by the end of 2015.

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