New Wanamaker Building owner to convert office space into hundreds of apartments
Why it matters: The transformation of the historic Center City building is the latest big shakeup to Philly's largest business hub.
Driving the news: New York-based developer TF Cornerstone expects to begin construction on the anticipated two-year project early next year, it said in a news release.
Context: The firm scooped up the building's fourth through 12th floors and its underground parking garage on Tuesday in a foreclosure auction. It's now the building's sole owner.
The developer already owned the first three floors, which were previously filled by Macy's before the retailer left earlier this year.
🛠️ What's new: Floors 6-12 will house approximately 600 loft-style apartments, each with a minimum ceiling height of 16 feet. Amenities are TBD.
Floor 3: To-be-determined cultural uses.
Ground and second floor: Retail.
🎹 1 cool thing: The building's Grand Court — which includes the Wanamaker Organ — will be restored and remain open to the public.
Worth noting: The Friends of the Wanamaker Organ are continuing their restoration efforts and will likely hold public performances leading up to the construction, Ray Biswanger, executive director of the group, tells Axios.
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