After shuttering dozens of local schools this fall, the Philadelphia School District has placed many of those buildings up for sale. Following months of speculation (
including some by Flying Kite), the search for buyers is on. Quite a few have serious residential development potential and some are in up-and-coming neighborhoods such as East Passyunk Crossing and University City.
The media has been abuzz with gossip on the potential sales:
Passyunk Post reported on the buildings in its purview, including Bok, Vare and Smith. City records put Bok's market value at $17.8 million dollars.
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.
The New York Times also covered the school properties, confirming our information that Drexel is eyeing University City High School. Turns out they are not the only local college getting into the vacant school game"
But Drexel University has said it wants to buy University City High School for an undisclosed price, and restore it as a public school. Temple University has expressed an interest in the former William Penn High School, close to its Temple campus on the north side of central Philadelphia. Buyers interested in the eight properties undergoing an expedited sale have until Dec. 17 to respond to a request for qualification, the district said. For the other properties, buyers must submit an expression of interest by that date.
As disruptive as the school closings were for neighborhoods, it is a good sign that the city is moving forward with putting the buildings up for sale. In the end, a vacant behemoth is far worse for communities than a large redevelopment project.
Writer: Lee Stabert
Source: Passyunk Post; The New York Times