PSFS Building

PSFS Building

Type	Skyscraper, hotel
Address	1200 Market Street
Map	View on Google Maps
Neighborhood	Center City
Phone	(215) 627-1200
Website	Official site
Established	1932
Founder	Philadelphia Saving Fund Society
Owner	Loews Corporation
Hours	Hotel: 24 hours
Products	Hotel accommodations
Status	Active

PSFS Building(215) 627-1200https://www.loewshotels.com/philadelphia-hotel1200 Market StreetPhiladelphiaPAUS

The PSFS Building is a 36-story skyscraper located at 1200 Market Street in Center City, Philadelphia. Completed in 1932, it was the first International Style skyscraper built in the United States and is widely regarded as one of the most significant buildings in American architectural history. Designed by architects George Howe and William Lescaze for the Philadelphia Saving Fund Society, the building pioneered modernist design principles that would influence skyscraper architecture for decades.

The building was designated a National Historic Landmark in 1976, becoming one of the first modern buildings to receive this honor. After the Philadelphia Saving Fund Society failed in 1992, the building was converted into the Loews Philadelphia Hotel, which opened in 2000 following a $115 million renovation. The building's iconic 27-foot PSFS sign remains atop the structure, a beloved Philadelphia landmark visible for miles.

History

Name and Acronym

PSFS stands for Philadelphia Saving Fund Society, the financial institution that built and occupied the building. Founded in 1816, the Philadelphia Saving Fund Society was the first savings bank in the United States, pioneering the concept of savings accounts for working-class Americans.

At the time the building was constructed, using abbreviations for company names was uncommon. Architects Howe and Lescaze argued that the full name "Philadelphia Saving Fund Society" would be illegible from street level, and convinced the building committee to accept the modern abbreviation. The PSFS sign became the first corporate acronym integrated into a building's architectural design.

Construction

The PSFS Building was completed in 1932. Construction began in 1930 during the early years of the Great Depression and was completed at a cost of $8 million (approximately $180 million in today's dollars).

Key Dates:

• 1929 - George Howe and William Lescaze begin design work
• November 1930 - Building committee approves final design
• 1930-1932 - Construction period
• 1932 - Building opens as PSFS headquarters
• 1976 - Designated a National Historic Landmark
• 1992 - Philadelphia Saving Fund Society fails; building closes
• 1997 - Loews Corporation purchases the building
• April 2000 - Loews Philadelphia Hotel opens

Architects

The PSFS Building was designed by George Howe (1886-1955) and William Lescaze (1896-1969), two architects whose partnership produced one of America's most influential buildings.

George Howe A Philadelphia native, Howe was trained in the Beaux-Arts tradition at Harvard and the École des Beaux-Arts in Paris. During the 1920s, he worked for the firm Mellor, Meigs and Howe, designing traditional bank branches for PSFS. In 1929, Howe left the firm and partnered with Lescaze, embracing modernist principles that would define his later career.

William Lescaze Born in Switzerland, Lescaze was trained in European modernism and brought firsthand knowledge of the Bauhaus movement to America. His experience with avant-garde European architecture complemented Howe's understanding of American building practices.

James M. Wilcox The progressive president of PSFS, Wilcox championed a forward-thinking design for the new headquarters. His support was crucial in convincing the conservative banking institution to embrace such a radical departure from traditional architecture.

Architecture

International Style

The PSFS Building is designed in the International Style, the first skyscraper in the United States built in this modernist idiom. The International Style had its roots in the Bauhaus school in Germany and the work of European architects like Le Corbusier, Ludwig Mies van der Rohe, and Walter Gropius.

Characteristics of the International Style evident in the PSFS Building:

• Functional design - The building's form follows its function, with different sections expressing their different uses
• Lack of ornamentation - No historical decorative elements like columns, domes, or carvings
• Clean horizontal lines - Emphasized by continuous ribbon windows
• Asymmetry - The tower is offset rather than centered
• Modern materials - Extensive use of glass, steel, and polished stone
• Flat roof - Rather than the decorative tops common in Art Deco buildings

Design Features

Exterior

• Base of polished black granite and light gray limestone
• Tower clad in buff brick with continuous horizontal ribbon windows
• Cantilevered base section projecting over the sidewalk
• Asymmetrical massing that expresses interior functions

Interior (Original)

• Ground-floor banking hall with 36-foot ceilings
• Air conditioning throughout (innovative for 1932)
• Built-in furniture designed specifically for the building
• Custom-designed light fixtures and signage
• Escalators connecting main floors (one of the first office buildings to use them extensively)

Height and Dimensions

The PSFS Building stands 491 feet (150 meters) tall with 36 floors and 374,628 square feet of total space.

In 1946, WCAU-TV installed a 256-foot transmission tower atop the building, increasing the total height to 737 feet. The television tower was later removed.

Measurement	Dimension
Building height	491 feet (150 m)
Stories	36
Floor space	374,628 sq ft
PSFS sign letters	27 feet tall

The Iconic Sign

Illumination and Visibility

Yes, the iconic PSFS sign is illuminated at night and remains one of Philadelphia's most recognizable landmarks. The 27-foot-tall letters glow with red lights (now LED, originally neon) and can be seen from up to 20 miles away.

Sign History: The architects initially struggled to convince the conservative PSFS building committee to accept the sign, which some considered undignified for a banking institution. Howe and Lescaze argued that the sign was integral to the building's design, hiding mechanical equipment on the roof while providing visibility from throughout the city.

The sign became the first corporate logo integrated into a skyscraper's architectural design. When the abbreviation "PSFS" was chosen, such acronyms were uncommon, but the architects recognized that the full name would be illegible from street level.

Sign Controversy: In 1990, when the Philadelphia Saving Fund Society was placed into receivership, the federal government briefly turned off the sign. Public outrage was immediate, and the sign was restored within days.

Modern Updates: In 2016, the original neon tubes were replaced with LED lights that replicate the neon's appearance. The new LED system can display seven different colors, though the sign typically glows in its traditional red.

Historical Significance

The PSFS Building is historically significant for multiple reasons:

Architectural Pioneering

• First International Style skyscraper in the United States
• First building to integrate a corporate logo into its architectural design
• One of the first office buildings with complete air conditioning
• Pioneered open-plan office layouts
• Influenced generations of modernist architects

National Recognition

• Designated a National Historic Landmark in 1976
• One of the first modern buildings to receive landmark status
• Selected as the "Building of the Century" by the American Institute of Architects (Philadelphia chapter)
• Listed on the National Register of Historic Places

Cultural Impact

• Demonstrated that modern architecture could succeed in America
• Proved that European modernism could be adapted to American commercial building
• Influenced the design of countless subsequent skyscrapers

Notable Features

The PSFS Building is famous for:

1. First International Style skyscraper in the United States, introducing European modernism to American commercial architecture

2. The iconic rooftop sign featuring 27-foot letters visible throughout Philadelphia

3. Architectural innovation including air conditioning, integrated signage, and functional design

4. Influence on modern architecture - the building demonstrated that modernist principles could work for major commercial buildings

5. Successful adaptive reuse - the conversion to a luxury hotel preserved the landmark while ensuring its continued viability

Loews Philadelphia Hotel

Yes, the PSFS Building has operated as the Loews Philadelphia Hotel since April 2000.

After the Philadelphia Saving Fund Society failed in 1992, the building's future was uncertain. Loews Corporation purchased the property in 1997 and invested $115 million in a comprehensive renovation that converted the former bank headquarters into a 581-room luxury hotel while preserving its historic character.

Hotel Features:

• 581 guest rooms and suites
• Historic 36-foot-ceiling banking hall lobby
• Original Cartier clock preserved in lobby
• Restored period details throughout public spaces
• Restaurant and bar in former banking spaces
• Meeting and event spaces

The Loews Philadelphia Hotel maintains the building's architectural integrity while adapting it for modern hospitality use. The PSFS sign was preserved atop the building, though "PSFS" now stands for nothing—a ghost of Philadelphia's banking history visible across the skyline.

Location

The PSFS Building is located at 1200 Market Street in Center City, at the corner of Market and 12th Streets.

Address: Loews Philadelphia Hotel 1200 Market Street Philadelphia, PA 19107

Getting There:

• SEPTA Market-Frankford Line (The L): 11th Street Station (one block)
• SEPTA Broad Street Line (The B): City Hall Station (two blocks)
• SEPTA Regional Rail: Jefferson Station (one block)
• Walking: Adjacent to Reading Terminal Market and Pennsylvania Convention Center

The building's location at the crossroads of Philadelphia's transit system and convention district makes it one of the city's most accessible landmarks.

See Also

• Philadelphia City Hall
• One Liberty Place
• Comcast Technology Center
• Architecture in Philadelphia
• Center City, Philadelphia

External Links

• Loews Philadelphia Hotel
• Docomomo US Register Entry
• Pennsylvania Historical Marker