In 1889, the Philadelphia and Reading Railway decided to build a train depot, passenger station, and company headquarters on the corner of 12th and Market Streets.

The following year, the Wilson Brothers would build an even larger trainshed three blocks away, for the Pennsylvania Railroad's Broad Street Station.

Many of those trains would be converted to electric power in a project that began in 1928 and basically completed in 1933, with the Newtown Branch being electrified to Fox Chase in 1966.

Major named inter-city trains in mid-20th century:[4][5][6] The terminal buildings declined with the railroad's fortunes as maintenance budgets were cut.

Its demolition was staved off by a group led by urban-renewal advocate Edmund Bacon, who pointed to its landmark status and its location within the Market Street East Redevelopment Area.

In 1993, the complex was chosen from among four candidates as the site for the new Pennsylvania Convention Center and purchased by the city's Redevelopment Authority of Philadelphia.

After renovations completed in 1997, designed by BLT Architects in a joint venture with CLA, the headhouse became the center's main entrance, while the trainshed became its Grand Hall and ballroom, with meeting rooms and a hallway.

Now renovated and remodeled street and concourse levels of the 175,000 sq ft (16,300 m2) building accommodate a variety of retail and food service operations.