Morning Headlines: Loft District Building Goes Up For Auction
What’s nine stories high and a full 156,000 square feet? The Independence Press building. Located in Philly’s “Loft District,” 533 N. 11th Street has been in want of a new owner since May 2012 when it was put on the market for $6.9 million.
Since then, the former site of a commercial printing company has passed through the hands of developers eyeing it up as a potential project for “loft-style condos.” But with no takers willing to commit, The Philadelphia Business Journal now reports the building will be up for auction on November 7th.
The suggested opening bid? $3.1 million.
Meanwhile, in other news…
Burglaries are on the rise at a noticeable rate in the suburbs, says Philly.com. Main Line communities are being hit up alarmingly often.
Down the shore, the healing process begins. A reported $4.7 million is to go into fixing up the Jersey boardwalk that was destroyed by a fire last month. NBC10 says Eagle Paving Corps. will demolish the ruined buildings “in 60 days or less.”
And now, those looking for inspiration this morning will be happy to hear this one: Two Philadelphia students are making a positive change with their efforts beautify and make use of vacant Kensington lots. Philly.com has the story.