Capital Campaign
A Smart Investment
The Center for Architecture has purchased Unit #1 of the historic Young Smithfield Building, currently operating as a commercial condominium, located at 1218 -1220 Arch Street, Philadelphia. This unit, approximately 23,000 square feet, includes two floors: the ground floor and the basement. The physical configuration of the property and its location provide extraordinary opportunities for the Center.
An Ideal Facility
- The space measures 48 by 170 feet and enjoys a 48-foot Arch Street retail front, essential for the enhancement of the highly successful and well known AIA Bookstore and Design Center.
- It is a two-story-high space, making it useful as a gallery and display facility.
- It will provide a new capability for the Community Design Collaborative to convene communities to plan, visualize, and create their new developments.
- The space allows for exciting expansion as leases in the basement conclude; new activities could include expanded programming and social opportunities such as a coffee bar.
An Ideal Location
- It is easily accessible by public transit and automobile, making programs and events all within easy reach throughout the region.
- The street front is directly across from the Pennsylvania Convention Center, elevating the importance of architecture, design, construction, and planning to visitors as well as residents.
- It is a premier location for events and receptions supportive of Convention Center activities.
A Successful Business Model
- Current leases from three for-profit tenants will generate revenue to help support the Center's operating budget.
- Non-profit use agreements include: AIA Philadelphia and the Community Design Collaborative using Center space for their offices, thereby helping to subsidize Center programming; the AIA Bookstore and Design Center, which creates an excellent cross-marketing opportunity; and Synergis - AIA Learning Center Training provider.
- Use agreements for exhibits, conferences, meetings, receptions, training, and information kiosks also will generate revenue to help the Center's operating budget.
A Special Renovation
- The Center's facility will provide an exhibit space, meeting and conference rooms, and a store facility that are flexible and able to be used in multiple ways.
- The Center's facility will be sensitively restored and historically reflective of its use originally as an industrial loft building.
- The Center expects to attain a LEED Gold rating for environmental sustainability.