Rare QOZ Development Opportunity: West Philadelphia Historic Firehouse, Circa 1895. Convert and polish this extraordinary historic architectural gem into a stunning Custom Residential or Multifamily Structure, a Custom Artisan-Professional Facility, an Atelier, Fine Art Studio, Sound Studio, Boutique Hotel, a Non-Profit, Learning Center, Community or Organizational Facility. ||
The 'Parkside Firehouse', as it is affectionally referred to, with its Beau Arts Italianate Renaissance Revival facade was designed by architect John Torrey Windrim, who apparently also had a hand in the Wannamaker building and numerous commercial, public, municipal buildings and firehouses across Philadelphia. || This is a large building with a 31.5'x74.6' 'as-built' footprint standing 40' tall as a three-story 6,885 SF 'as-built' unfinished brick shell with a modest backyard. The overall 'as-built' lot size is 31.5'x81.8' or 2,577 SF. The south side of the structure features a central light well on the upper two levels to illuminate the core of the interior space. An existing curb cut facilitates parking for 4+ vehicles on the first level. The enclosed horse access on the front left can be reopened and utilized as the main entrance to receive visitors and guests. The property is zoned residential RM1 'multifamily' which is suitable for six residential units by code - based on 'as-built' measures -- and is being offered for sale, 'AS IS, WHERE IS'. || Building Height (Approx): Front 40'; Peak 47'. Ceiling Height: Basement 104" Clearance, First-floor 14.5'; Second-floor 12.5'; Third-floor front 10' Clearance soaring to 16' at the peak and sloping to 7' in the back. The full-depth unfinished basement is 1,754 SF featuring a handsome central arched masonry support spine sporting a double 8' barrel-vaulted ceiling. || This robust structure remains an improved shell that renders itself to numerous uses. Recent improvements include new historically approved windows on the facade, a new historically approved cornice, installed basic electric service, installed basic water service, a new main roof, and initiated preliminary carpentry on the upper level. The historic designation principally addresses the facade, not the interior spaces. Notwithstanding these strategic improvements to conserve the structure, this remarkable property essentially stands in shell condition and undoubtedly remains eligible for a Property Tax Abatement. || Furthermore, this development opportunity is located within a Qualified Opportunity Zone and is eligible to roll capital gain investments into real estate within the QOZ guidelines in exchange for favorable capital gains tax benefits for qualified buyers. This property, moreover, is located in the West Philadelphia Empowerment Zone, and finally, it sits in a zone designated for New Market Tax Credits. || Solid traffic counts. Good public transportation. Easy Access to Univ City, Parkside Belmont Plateau, Mainline, and I-76. This amazing Historic Firehouse property offers a compelling canvas to render your custom residential or business interests. Make it yours! Act promptly, this opportunity will likely move rapidly. Qualified Buyers. Serious Interests Only.
Courtesy of: Keller Williams Philadelphia Listing information provided courtesy of the Bright MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable, but is not guaranteed accurate by the MLS. Updated: 25th September, 2022 2:22 PM (UTC)