Question

Read the sentence. Philadelphia has many historic buildings, beautiful parks, and is home to many excellent restaurants.

Answer 1

The answer is B. 
Philadelphia has many historic buildings, beautiful parks, and excellent restaurants.

Answer 2

Your answer is B. For parallelism to be correct in a coordinated phrase, all the phrases linked must belong to the same category.  In B, "Philadelphia has many historic buildings, beautiful parks, and excellent restaurants"; the conjuction "and" links NPs: many historic buildings, beautiful parks and excellent restaurants. Each of these NPs is modified by an AdjP (adjetival phrase) making all the noun phrases to weitgh the same.