The Dow Building at the corner of 5th and Market (right across the street from the President's House memorial), was just sold for $45M, and developers say that they're going to spend $20M to make a few changes to the stodgy but serviceable office building.
The developers say they want to put in a restaurant with an outdoor patio, a welcome addition to a touristy area that has surprisingly few restaurants. They're also planning to put in 110 new parking spots in the basement of the building. Though Old City already has tons of parking garages, tourists visiting the Liberty Bell provide a steady stream of customers.
There is also the possibility of streetscape improvements: the developers have alluded to some mysterious "new pedestrian experience", but haven't provided details.
· Parking, eatery and more planned at Dow building [Philly.com]
· Dow building comes back to market [Philadelphia Business Journal]