On August 1, 1932 the very conservative Philadelphia Saving Fund Society, in one of the most conservative cities in the United States opened the most modern building in the country. The PSFS building is the forerunner of the post World War II “International Style” skyscrapers.

 

 

A two-story building of traditional design is what the board had in mind for their new home. So when architects George Howe and William Lescaze unveiled their plans shock greeted them.

 

 

Most of the members of the PSFS Board of Directors did not favor the idea of a 490 foot skyscraper and the ultra-modern design. But James M. Wilcox, the society’s president looked at the design from a standpoint of practicality. And if an ultra-modern building was going to be the best return on the investment, so be it. Wilcox convinced the board to go with the design of Howe & Lescaze. With board approval for the new skyscraper, came the razing of the buildings at Market and 12th Streets.

 

Demolition

Demolition of the site began in late winter of 1931 and continued into the spring. Actual construction started in the summer and proceeded rapidly, with the topping off of the building in the autumn. The completion of the exterior followed early in 1932.

 

Construction 1931 – 1932

 

On the first day of August, 1932 the Philadelphia Saving Fund Society threw open the doors to their new building.  The United States had not see a skyscraper like this before. The “T” shape building rises from an unadorned three-story base of polished granite. Space for retail shops made up the first floor while the main banking room took up the second floor. Rising from the base asymmetrically,  the tower sits back 20 feet from 12th Street  and 40 feet on its western façade. All the service facilities  (elevators, etc.) are located at the southern end of the building in the “T”. The exterior of the top”T” is of glazed black bricks and the tower has matte buff brick horizontal spandrels bisected by limestone vertical piers. Because of this shape and the use of so much glass on the exterior, natural light flooded the offices. Year round comfort was provided by the Carrier Company. This made the PSFS Building only the second building in the Unites States to by fully air-conditioned. For  the convenience of people driving to work, PSFS built a garage one block north at the corner of 12th and Filbert Streets. And just like the design of the skyscraper the garage was just as ultra-modern.

 

 

Interior

The interior design proved to be as modern as the exterior. From Market Street a staircase and set of escalators let up to the banking floor. This black, white and gray marble clad lobby received natural illumination from a three-story window with stainless steel mullions.

 

 

The main banking floor was the most impressive space in the building. An enormous window formed the north and part of the east walls of this two-story space.

 

 

The offices featured modern furniture designed by Howe & Lescaze, the building’s architects.

 

The board room, dining room and observation solarium occupied the 33rd floor.

 

 

 

 

As to the beauty of the new PSFS Building, half the public felt it was an abomination, while the other half admired it for its modernity and boldness. But its occupancy rate proved to be an unqualified success.  Its offices rented faster than any other building in Philadelphia at the time of its completion. Its success in both architecture and income was so striking that the building received a feature article in the December, 1932 issue of Fortune Magazine.  To read the article click on the cover below.

 

 

 

For hundreds of more historic photographs and a more comprehensive history of the PSFS Building visit the Hagley Digital Archives. In 1976 the building received National Historic Landmark status. But by then the 36 story skyscraper was in decline. In the early 1990’s its vacancy rate reached 85%. A plan to convert the building to apartments changed to a hotel in the 1994. In 2000 the PSFS Building reopened as the Loews Philadelphia. In doing so the public can still enjoy this wonderful building, the first International Style building in the United States.

 

 

Anthony & Chris (The Freakin’, ‘Tiquen Guys)

 

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Happy 85th Birthday, Empire State Building!

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