MCP Hospital Site Set for $65M Conversion

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.