On May 1, 2025, The Franklin Residences marked a significant occasion — celebrating 100 years since its original opening as the prestigious Benjamin Franklin Hotel. The centennial celebration honored a building that has stood at the crossroads of history, culture, and community for a full century.
A Philadelphia Landmark Since 1925
Located at 9th and Chestnut Streets, this landmark was originally designed by famed Philadelphia Gilded Age architect Horace Trumbauer, also known for designing the Philadelphia Museum of Art. When it opened in 1925, the hotel quickly gained renown as “The Ben,” the city’s last great hotel before the Great Depression and the preferred destination for dignitaries, celebrities, and luminaries. and earning acclaim for its elegance and hospitality. Throughout the 20th century, the Benjamin Franklin Hotel witnessed Philadelphia's dynamic history firsthand, becoming synonymous with the city's vibrant social life and cultural heritage, until its closure as a hotel in 1980. It was added to the National Register of Historic Places in 1982.
In 2011, Korman Communities acquired and reimagined this architectural gem as The Franklin Residences, boasting beautifully designed luxury residences, thoughtful amenities, and an enduring sense of community. The Franklin Residences seamlessly blends historic charm with modern comforts, offering residents an unparalleled living experience rooted deeply in Philadelphia’s rich heritage.
A Roaring ’20s Theme
The centennial celebration event embraced the spirit of the 1920s, with a lively Roaring ’20s theme that welcomed guests to an evening of elegance and nostalgia.
Lea Anne Welsh, COO of Korman Communities and President of AVE, opened the festivities with remarks honoring the building’s enduring role in Philadelphia’s story. “As a fifth-generation, local, family-owned company, Korman Communities is grateful to be part of the Philadelphia community,” she shared.
Guests enjoyed live jazz performances, curated food and drinks by High Street Hospitality Group, led by James Beard Award-winning restaurateur Ellen Yin, and a pop-up historical exhibit featuring artifacts from the building’s illustrious past. Items exhibited from the Korman Archive included Saturday Evening Post advertisements from the 1920s, a featured menu from the Army-Navy football game in the 1930s, vintage postcards, and a letter from former residents describing their honeymoon in Philadelphia. There was also a display of 10 posters depicting enlargements of historic artifacts.
Honoring the Past, Present, and Future
Philadelphia City Councilmember Mark Squilla offered reflections on the Franklin’s legacy. Originally built by Trumbauer, the Benjamin Franklin Hotel became the social heart of Philadelphia, attracting figures from politics, entertainment, and society.
Squilla also reminded guests of the deeper roots beneath their feet. The Continental Hotel, which previously stood on the same footprint, was the largest hotel in the United States when it opened in 1860 and hosted notable guests such as Ulysses S. Grant, Charles Dickens, and most famously, President-elect Abraham Lincoln, who delivered his pre-inaugural address from the building’s Chestnut Street balcony in 1861.
The Korman Legacy and the Next Century
Brad Korman, Co-CEO of Korman Communities, spoke about the company’s multi-generational commitment to Philadelphia real estate. “Our family has a rich 100+ year history in this great city,” he noted, highlighting their innovations — pioneering furnished apartments at The Plaza in the 1960s, developing signature properties including Buttonwood Square, International City, Rittenhouse 222, and Rittenhouse Square, and, in 2011, restoring The Benjamin Franklin into The Franklin Residences.
Korman also emphasized the growth of the company’s AVE brand, which currently operates five apartment communities across the greater Philadelphia area and 20 communities across the United States from Silicon Valley to Tampa Bay. Recently, AVE earned the title of #1 Apartment Operator in the Nation for the third consecutive year, according to the Kingsley Excellence Awards, based on residents’ satisfaction.
Brad Korman offered a glimpse into the future, announcing the upcoming AVE Navy Yard development, opening in late 2025. The property will offer 614 contemporary apartments, 75,000 square feet of indoor/outdoor amenities, and 25,000 square feet of retail space — part of the largest LEED Gold Certified Neighborhood Development in the country.
In recognition of the Korman company’s enduring commitment to excellence, Brad reflected on his father Steve Korman’s famous remark that “a building can get a day older or a day better,” emphasizing that The Franklin Residences has consistently been “a day better” under Korman Communities’ stewardship.
The Franklin Residences Today: Living History
While the building’s exterior continues to showcase the grandeur of its 1920s architectural design, The Franklin Residences has evolved into a sophisticated residential community that meets the expectations of today’s modern urban lifestyle. It offers a selection of luxury unfurnished apartments and flexible-stay, fully furnished residences, combining historic ambiance with contemporary comfort. Residents benefit from a 24/7 fitness center, a business center, and the convenience of concierge and door services. A comprehensive range of on-demand resident services further enhances the living experience, all delivered with the signature hospitality that has become synonymous with The Franklin and Korman Communities.
The building also features some of Philadelphia’s finest retail and dining experiences at street level, including DiBruno Bros. gourmet grocery, Passero’s Coffee Roasters, Body + Beauty Lab, and High Street Philly.
Residents enjoy a unique blend of historic charm and modern conveniences, supported by AVE’s award-winning commitment to hospitality and service. The Franklin Residences is owned and operated by Korman Communities, with residential offerings available through AVELiving.com, hotels and hotel residences at stayaka.com, and investment opportunities and partnerships through Korman.com.
A Celebration of Community and Continuity
The event was not only a tribute to the past but also a testament to the power of community and innovation. Attendees included residents, local historians, city leaders, and Philadelphia neighbors, all gathered to honor the building’s legacy and celebrate its bright future.
As the evening concluded and the last jazz notes played beneath the gleaming chandeliers of the historic lobby, one thing was clear: The Franklin Residences is not just a building. It’s a living, evolving piece of the Philadelphia’s story.
