Wanamaker Building to Add Dining and 600 Apartments
The historic building will transform its retail space into new dining and residential units to revitalize the landmark.
Updated on Oct. 28, 2026 in Commercial
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The Philadelphia Zoning Board of Adjustment has approved redevelopment plans to add restaurant space to the historic 12-story Wanamaker building. This project aims to transform the 116-year-old landmark following the 2025 closure of its flagship department store.
Why it matters
Rising vacancies throughout the upper levels of the Wanamaker building, driven by shifting post-pandemic office and retail demands, necessitated this significant repurposing of the historic site. The plan seeks to stabilize the building's future by blending new dining venues with residential and commercial use.
The project includes plans for 600 residential units and designated restaurant space surrounding the building's iconic Wanamaker Eagle. Developers intend to retain office space on the fourth and fifth floors of the 12-story structure.
The players
TF Cornerstone
A real estate developer known for large-scale urban residential and mixed-use projects.
Alterra Property Group
A Philadelphia-based real estate firm specializing in the acquisition and development of commercial properties.
Philadelphia Zoning Board of Adjustment
A local municipal agency tasked with reviewing and approving land-use changes and development variances.
The details
Developers TF Cornerstone and Alterra Property Group plan to divide the interior space into multiple retail and food service zones to modernize the property. Conceptual renderings feature a bar and dining tables integrated into the Grand Court. Residents and office tenants will access the building through the Juniper Street entrance, while retail visitors will use the Market and Chestnut Street entrances.
Timeline
2025: Macy's closed its store in the Wanamaker building.
October 21, 2026: The Zoning Board of Adjustment approved the development plans.
The Home Front
This project aligns with the widespread industry trend of converting historic commercial and office properties into high-density residential housing. It reflects a broader shift to revitalize legacy downtown infrastructure as traditional large-scale department store models decline.
Residents and office tenants should plan for upcoming construction activity near the Juniper Street entrance as the site moves toward mixed-use occupancy. Keep an eye on local development notices to stay updated on how interior traffic flow and loading zones on 13th Street may change during the build-out.
The takeaway
The Wanamaker building transition highlights the creative repurposing of historic city anchors into residential and dining hubs. Keep this evolution in mind as a barometer for how downtown commercial spaces in your neighborhood adapt to changing work and living trends.
Further reading
Learn more about local updates in the Philadelphia Commercial section.
Source note: This article includes information reported by The Philadelphia Inquirer.
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