The $16.2 million project will convert the historic building at N. 13th Street into 56 loft-style apartments and reuse the existing elements found in the school.
Each unit will have the original chalkboards and built-in cabinets and the hardwood floors will also be restored in the process.
The massive building at 1301 Spring Garden Street will be restored and feature in a number of residences, the original transoms above the classroom doors.
The original gothic arch of the main entryway, along with most of the exterior's vibrant tile work will be restored, and the gymnasium will be converted into six two-story apartments.
Construction is slated to begin in mid-February.
The building is instantly recognizable due to the "Common Threads" mural on its west-facing facade. "That's not going anywhere," said the developer.

In the meantime, residents will have access to the rooftop amenities at the Lofts at 640–which include a pool with amazing views of the city.
As for a timeline, the developer anticipates that approximately 30 units will be completed and ready for occupancy by late summer, with all units expected to be complete by the end of the year.
Architect Richard Sauder is in charge of the design, David Chou & Associates is the Engineer and Domus, Inc. will be heading up the construction efforts.
Thaddeus Stevens School of Observation is a historic Gothic Revival building located in the Poplar neighborhood of Philadelphia. The five-story, brick building was built in 1927 as an "observation school" for teacher education and training.