The Lincoln Will Rise Again

New owner will begin reconstructing the fire-damaged apartment building soon.

lincoln-buildingWe have good news from last night’s Washington Square West Civic Association meeting: work on reconstructing the severely damaged Lincoln Apartments on Locust Street at Camac is set to begin within the next few months.

A member of the Washington Square West Civic Association said, and Councilman Mark Squilla (D-1st District) confirmed to us, that the building changed hands at a sheriff’s sale a little more than a month ago and that the new owner, David Perelman’s Pelican Properties, has announced its intention to rebuild the partially collapsed structure.

Squilla explained that efforts to restore the building were in limbo for about a year while two feuding New York investor groups argued over who owned how much of the building and what they were entitled to out of a sale. The Philadelphia sheriff’s sale settled the question for them.

According to Squilla, Perelman will meet with the WSWCA next week to discuss reconstruction plans.

 


Sandy Smith Home and Real Estate Editor @MarketStEl
ssmith@phillymag.com