Latest news with #TFCornerstone
Axios
3 days ago
- Entertainment
- Axios
Philly's iconic holiday light show at the Wanamaker is back on — for now
The Wanamaker Building is being transformed into a pop-up performing arts space this fall, guaranteeing the return of one of Philly's most cherished holiday traditions for at least one more year. Why it matters: The future of the holiday lights show and Dickens Village was in doubt after Macy's closed its flagship Center City store in the spring. Driving the news: The building's new developer, New York-based TF Cornerstone, is partnering with Opera Philadelphia on a new "Pipe Up" series that'll bring a lineup of performers to the historic Wanaker Grand Court over four months in the fall, starting in September. The Wyncote Foundation has given $1 million to help fund the programming, which will center around the historic Wanamaker Grand Court Organ. Context: Considered the world's biggest functioning pipe organ, the instrument was originally built in 1904 for the St. Louis World's Fair — and found new life as a centerpiece in the Wanamaker Building. Fun fact: It took 13 freight cars to transport the organ from St. Louis and two years to assemble it here. Flashback: Played twice a day while Macy's was open, the organ was a huge draw for people flocking to Philly's annual holiday light show. What's ahead: A Sept. 7 kickoff concert, "Meet me at the Eagle," which will include appearances from BalletX, the Bearded Ladies Cabaret and Grammy-nominated composer Nathalie Joachim. In early 2026, TF Cornerstone will begin construction on a two-year project to bring 600 new loft-style apartments to the building.
CBS News
3 days ago
- Business
- CBS News
Watch live: What's next for Wanamaker Organ at the former Philadelphia Macy's store?
It's Christmas in July, and what better place to celebrate it than the Wanamaker Building, home of Philadelphia's best-known holiday events? At 10 a.m., several local officials are gathering at the building on Market Street for "a special announcement about the future of some of Philadelphia's most beloved holiday traditions." CBS News Philadelphia will livestream this announcement. You can watch in the player above or anywhere else CBS News Philadelphia is streaming. The heads of the Philadelphia Visitor Center and Opera Philadelphia will be there, as will the Executive Director of the Friends of the Wanamaker Organ and Councilmember Mark Squilla. The organ and Grand Court, which features a one-ton bronze statue of a perched eagle, are designated National Historic Landmarks and are also on the Philadelphia Register of Historic Places — they are required to be preserved. The building is well known for its Christmas Light Show narrated by Julie Andrews, and the Dickens Village walk-through display that Macy's had acquired from Strawbridge's. TF Cornerstone, a New York-based developer, previously announced plans to build 600 loft-style apartments above the retail space in the Wanamaker Building. Once the home of Wanamaker's department store, the retail area was most recently occupied by Macy's before the company announced in January 2025 that it would be closing the store. The Philadelphia Visitor Center and Friends of the Wanamaker Organ have been collecting donations in order to install, operate and staff the light show and Dickens Village for the 2025 holiday season. You can watch live in the player above.
New York Times
28-06-2025
- Business
- New York Times
She Joined the Family Business, but She Hasn't Given Up Her Art
In the world of New York City real estate, it was a given that Zoe Elghanayan would step into the family business. Her father and two of his brothers started a real estate company, Rockrose, with $100,000 from their father in 1970. In 2009, the business split into two, with her father and one of her uncles heading up the new TF Cornerstone. Relatives in her generation also work in real estate, including her older brother. Following in their footsteps, she is now a principal and vice president. Growing up, though, Ms. Elghanayan was more interested in her family's involvement in the arts as philanthropists and collectors. 'I did not have any real intention of embarking on real estate,' she said. She studied art theory at the New School and worked in art galleries and at Sotheby's. But in 2016, she joined TF Cornerstone, realizing that she had perhaps glamorized the art world and eschewed the family business for fear of perceptions of nepotism. She said she had wanted to be successful on her own. 'I didn't really like the idea of an opportunity being given to me,' she said. 'But in retrospect, all opportunities are, in some way, given to you.' Ms. Elghanayan, 35, took it and made it her own. Art curation has become part of her job, and she is filling TF Cornerstone buildings throughout the city with design, murals, décor and sculptures that have transformed lobbies into galleries and art studios. 'I had no idea how dynamic my role would be — it looked far just above and beyond what I could have ever imagined, and I feel far more creatively inclined in this role than I ever did working in the arts,' Ms. Elghanayan said. Want all of The Times? Subscribe.
Axios
04-06-2025
- Business
- Axios
New Wanamaker Building owner to convert office space into hundreds of apartments
The Wanamaker Building's new owner plans to convert office space in the high-rise into hundreds of apartments and open up other areas for public use. 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.
CBS News
04-06-2025
- Business
- CBS News
600 loft apartments planned for historic Wanamaker Building in Philadelphia
New York developer TF Cornerstone plans to build 600 loft-style apartments above the shuttered Macy's store in the historic Wanamaker Building in Philadelphia after acquiring complete control in a foreclosure auction Tuesday. TF Cornerstone said the apartments will be built on floors 6 through 12, while floors 4 and 5 will remain office space. The Wanamaker Organ will continue to be in use, and the Grand Court will be restored and remain open as a public space, according to the New York City-based real estate development firm. The Crystal Tea Room will also continue to serve as a venue for events. The first two floors of the former Macy's will feature a "well-curated" retail space, and the third floor will be of "one or more cultural uses," according to a news release. TF Cornerstone owned part of the building that housed the Macy's in Center City before Tuesday's foreclosure auction, which gave it total control. "Throughout this entire process, we have considered the deep historical and sentimental value of the Wanamaker Building to the Philadelphia community," TFC senior vice president Jake Elghanayan said in a statement. "Now, as the building enters its next chapter under our helm, we feel privileged to be given the opportunity to reimagine this iconic building in a way that respects its historic integrity and adds to the vibrancy of the Center City community." Macy's announced in January that its store at the iconic Wanamaker Building would be part of the retailer's closure of 150 underperforming stores. The store's last day was in March. The organization Friends of the Wanamaker Organ has maintained and continues to use the historic organ. "The Friends of the Wanamaker Organ has been enjoying a very close and fruitful relationship with the new owners of the Wanamaker Building, TF Cornerstone and look forward with gratitude to many years of a productive and artistic partnership," Friends of the Wanamaker Organ executive director Ray Biswanger said in a statement. Construction is scheduled to begin in 2026.
