The Buzz: Extended-Stay hotel | 1700 Market sells | Tax hikes for some | Collaborative garden at Temple | Elevated rail parks

The surface parking lot at 12th and Arch streets will become a Hilton extended-stay hotel, reports the Inquirer. The parking lot is owned by Parkway Corporation, which will also be the developer for the $60 million hotel project. Parkway owns more than 70 parking facilities in Philadelphia, and this project signals company’s continued interested in developing its holdings.

1700 Market Street was sold for $143.5 million to New York investor David Werner and his partners, which WorldPropertyChannel says is one of Philly’s largest sales in recent years. The Philly Deals blog notes that the new owners also hold the Widener and former PNB Bank buildings.

Will renovating your house raise your taxes? The Inquirer finds that for some Philly homeowners who have completed substantial rehabs, the answer is yes. These hikes come despite the  Nutter Administration promise not to reassess properties until the city’s property-tax system is fixed.

A new garden near Temple’s Health Sciences Campus will officially open today, bringing both medicinal plants into the classroom for research and fruits and vegetables to neighborhood residents. The Temple News reports on how a garden for pharmacy students also became a collaboration with neighbors.

The Atlantic Cities checks in on four linear park projects inspired by New York’s High Line, including Reading Viaduct.

The Buzz is Eyes on the Street’s morning news digest.

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