Investment manager Franklin Square Capital Partners has applied for a $7.5 million grant to build a hotel at Philadelphia's Navy Yard business campus, according to a state report.

The property, described as a "luxury boutique hotel," would feature 150 guest rooms, according to the list of applicants to the Redevelopment Capital Assistance Program posted Wednesday on the state's website.

No other details, including the prospective hotel's operator and total budget, were disclosed. A message left with the company brought no immediate response.

The Navy Yard currently accommodates a 172-room Marriott Courtyard hotel.

Franklin Square moved into a new headquarters building at the business campus this year.

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