1425 Arch Street
Location: Center City, Philadelphia
Size: 94,000 sf
Project Type: Adaptive reuse of former YMCA for retail and office space
Ownership Structure: Wholly owned
Total Projected Investment: $3.7 million
Status: Complete
After serving nearly 100 years as a YMCA this building in the heart of downtown Philadelphia was vacated in 2004. The property consists of the lower 4 stories of a 9-story structure. WHY Partners (of which Eisenstein and Canno together own 67%) acquired it in 2005 and quickly transformed the property, making necessary structural repairs and leasing up 100% of the space. 30,000 sf of the total 94,000 sf became a branch of local fitness center operator Sweat Gym. This facility has become the chain's most successful, and it offers spa services and an extensive range of dance, martial arts, and workout classes. WHY Partners undertook an extensive restoration of the structurally impaired YMCA pool to create an attractive, modern facility for the gym's swimmers. On the upper floors, WHY Partners converted the space into offices for a local non-profit organization. The 5 floors above the YMCA space are currently slated to be converted into a luxury hotel, and WHY Partners has leased portions of the building to the hotel operator as well. The total investment has been $3.7 million, and the property is currently appraised at $13.5 million.
Return to Selected Project List
