In 1785 the Pennsylvania Legislative Assembly, who met in State House, today known as Independence Hall, voted to give the lot to the Society.

However, fundraising proceeded slowly, and the building took four years to construct, the final money needed to complete it coming by way of a loan from Society member Benjamin Franklin.

The Society finally ended its practice of renting space in 1934, when a significant bequest from a member placed it on a sound financial footing.

[2] The Society considered leaving Philosophical Hall several times, once when the city sought to acquire the building as a courthouse; however, the parties could not agree on a price.

[2] Today, Philosophical Hall provides space for the APS's offices and houses a museum that is open to the public April through December each year.