The new owner of the Wanamaker Building says that Philadelphia today is akin to New York City in the 1990s, but with better building codes. As TF Cornerstone embarks on the redevelopment of the historic department store — with local partner Alterra Property Group — they plan 600 loft-style apartments similar to units they created in Manhattan’s former industrial neighborhoods 40 years ago. The partners will transform the colossal former department store, now largely vacant office space, into a mixed-use building with apartments that range from studios to three-bedroom units. There are difficulties of geometry in a building the size of the Wanamaker, which is over 2 million square feet when the 660-car parking garage is taken into account. But the developers believe the issues can be solved without substantial interior demolition by creating units that stretch deep into the structure, allowing for apartments with a lot of space but few windows.
Source: Philadelphia Inquirer; 6/12/2025