Downtown Philadelphia: From Offices With Jobs to Apartments

The Philadelphia Inquirer reports:

PMC Property Group has a novel idea for part of the Center City office building it just bought:

Offices.

The company's practice of buying up tired old office properties and refurbishing them into sleek, high-end apartments has helped make it one of Philadelphia's biggest residential landlords.

It hasn't been working alone: Up to seven million square feet of office space - the equivalent of almost six Comcast Center towers - has left the market over the last 25 years, most of it converted to residential use, according to real estate services firm JLL.

It's not your father's downtown Philadelphia.