Center City building under contract; Developer plans Broad Street tower: Reports

A 128-year-old Center City building is trading hands and a developer has plans to add several floors to a vacant North Broad Street property, according to reports from The Inquirer.

Located at 1326 Chestnut St., the Hale Building is under contract to be bought by Brickstone Realty Cos., The Inquirer reported.

Brickstone, whose restoration credits include the former John Wanamaker and Lit Bros. department stores on Market Street, plans to renovate the seven-story building at 1326 Chestnut and revamp its upper floors into offices for advertising firms or other creative users, managing partner John Connors said. The ground floor will be divided between two restaurants, he said.

Heading north, a mostly vacant six-story building located at 142 N. Broad St. may soon become a residential property, according to The Inquirer.

The Logan Square Neighborhood Association held a vote Tuesday on owner Convention Center Parking LP's proposal to add four stories to the dilapidated six-story building at 142 N. Broad St. and to convert it into apartments or condo units, association President Drew Murray said.

Results of the vote were not disclosed.

Source: Philadelphia Business Journal