Baycrest Properties & Management, which owns the western side of the Public Ledger building, is considering converting the office space into multifamily rental housing, writes Jake Blumgart for The Philadelphia Inquirer.
“The building is in good shape,” said Jerry Roller, principal with JKRP Architects of Philadelphia, which has been working with the building’s owner on conversion possibilities. “The sense that the owners have is that this would be an asset to the community and might make the building more part of the community if it was more occupied.”
Building permits have been submitted for 265 apartments, but they do not indicate a definite or final proposal, according to Roller.
The owner “wants options in terms of what to do with the building,” he said. “There are a number of residential options around Washington Square that seem to do pretty well. That’s why he took that permit because it gives him a possibility of doing something else.”