Tag Archives | Smith Elementary
The Concordia Group has been working to buy some of the city’s shuttered schools, including Point Breeze’s Walter Smith School and the Vare School in Pennsport. The schools first went up for sale in 2013.
The developer’s plans for Walter Smith include converting the location for residential use. Residents have been resistant of the plans in the past, but a tentative agreement has now been reached with the Point Breeze CDC to begin moving the process forward. This agreement would require the development of the Walter Smith School at 19th and Wharton to include space for the use of the community.
The sales of the shuttered Bok, Vare and Smith schools were approved last night to developers with track records for luxury development. The sales of the three schools, as well as eight others in the city, were green-lighted in a unanimous vote at a School Reform Commission meeting.
Bok, at 9th and Mifflin streets, is being sold for the proposed sale price of $2.1 million to Scannapieco Development, which built the 1706 Rittenhouse skyscraper of full-floor residences. This 14th floor unit, for instance, was purchased for $4.7 million last year. Scannapieco also plans another ultraluxury building at 5th and Walnut streets that will overlook Independence Mall.
(UPDATE: The sale was actually to Scout Ltd., LLC, which is managed by Lindsey Scannapieco, the daughter of that developer, who plans a mixed-use arts-based project. Details to follow soon.)
Are you a developer with a sense of adventure? Then this kind of open house is for you.
The city has announced that it will hold open houses for 20 shuttered school buildings in the next month, and on the list are Bok High in East Passyunk Crossing, Vare Elementary in Pennsport and Walter Smith Elementary in Point Breeze.
The open houses, which you must register for by RSVPing here, start next weekend. The first at Smith, at 19th and Wharton on May 19. The following day, developers will head to Vare, 1619 E. Moyamensing Ave. Then on May 29, Bok, an eight-story monster hulking over 9th and Mifflin, gets its turn.
Here are the specs on each of the buildings, listed in what we believe will be the order of interest of developers looking for apartment conversions:
The Philadelphia School District has officially listed more than two dozen shuttered school buildings, including three in hot, development-ready areas of South Philly: Bok Technical at 9th and Mifflin, Vare Elementary at Moyamensing and Morris and Smith Elementary at 19th and Wharton.
None of the buildings came tagged with a specific price tag, and sale notice from the district is actually a request for a formal “expression of interest.”
Bok Technical, an imposing art deco monster, is 338,000 square feet over eight floors on a 2.2-acre site. The information provided notes its proximity to Passyunk Avenue and the Snyder Avenue subway stop (about half a mile each). “Surrounding the Avenue is a surging residential and development market.” True.
City records peg the market value at $17.8 million. A wee high?