The Philadelphia Zoning Board of Adjustment voted 4-1 to approve a handful of variances for a proposed 122-unit apartment building at the corner of 40th and Pine Streets, where a registered historic building sits.

The developer, Jonathan Weiss, sought variances for the number of units, the number of parking spots, and the maximum height, among other requests. The University of Pennsylvania owns the historic building, and the new building would provide housing for graduate students.

In his closing statement at the board’s hearing, Ballard Spahr’s Matthew N. McClure, Penn’s attorney, argued that the property’s zoning classification was out of step with the land use of the surrounding area. Mr. McClure said the proposed building would be appropriate for the neighborhood. “We are very happy with the result,” he said after the hearing.