1221 Locust Street, designed by Frank Furness in 1890, and 1223 Locust Street, designed by Lindley Johnson in 1891, were conjoined to house the Princeton Club of Philadelphia in 1915. The Club maintained a restaurant, two squash courts, permanent and temporary residences and social spaces until it was sold in 1978. Both buildings were placed on the National Register of Historic Places in 1982.

In the intervening years between the occupancy of the Princeton Club and the purchase of the buildings by the current owners in 2008, the buildings had generally deteriorated. The new owners were committed to a complete restoration of the structures. Restoration work is being guided by Pennsylvania State Historic Preservation Office Standards as well as those of the Secretary of the Interior. Intended uses are a restaurant in the Basement and 1st Floor and professional offices on the three floors above.

Exterior restoration work included replacement of copper flashing and slate shingle roofing, masonry pointing and painting. Existing sash and leaded glass windows have been restored or replaced to match. Significant interior elements have been preserved and restored including a major Furness leaded glass skylight and a Furness-detail stair. All building systems have been totally replaced. A new elevator has been inserted, making the building accessible from the basement to third floor.