We don’t know yet what the proposals entail, and it turns out that the designation may not be entirely accurate.
Sources tell us that, in the case of Bok, at least, the school district received several offers after it hosted open houses for developers in May. Bok and its 338,000 square feet, at 9th and Mifflin, were listed for $1.7 million, and Vare’s parkside 54,000 square feet was listed for $2.5 million.
The “pending” part of this apparently occurred because the district has narrowed down the offers to a very short list of suitors, possibly two a piece, and wanted to discourage additional interest. We’ve reached out to the district for more info but haven’t heard back yet from a spokesman.
Bok’s relatively low list price reflected the worry that several talking heads expressed last year whether it would be too expensive to redevelop. The building reportedly needed $55 million in structural repairs, and it’s heating system is still connected to Southwark Elementary’s across the street.
Vare seems poised for an obvious conversion to apartments, at least that’s what we think. But once we find out more solid info — like if there will be any public meetings to help vet these proposals — we’ll let you know.