PHILADELPHIA-A 3300 Henry LP partnership headed by locally based Iron Stone Real Estate Cos. has begun conversion of the multi-building, 13-acre former Medical College of Pennsylvania site at 3300 Henry Ave. in East Falls. It acquired the property a year ago for $11 million from a nonprofit entity that tried, but failed, to keep the hospital after Dallas-based Tenet Healthcare Corp. shuttered it.

The MCP campus, which began as Women's Medical Hospital, is an assemblage of four multi-story buildings and a smaller gatehouse that, together, aggregate 700,000 sf. The largest building dates back to 1929, and the others were constructed between then and 1995.

The major buildings are “architecturally significant,” says Gary Gordon, Iron Stone's VP, and the new owner will retrofit them and is in the process of applying for designation by the National Register of Historic Places. At a projected total investment of $65 million, the owners are redeveloping the complex in phases.