Almost exactly one year ago, we brought 1843-45 E Passyunk Ave. to your attention, noting that the iconic home of King of Jeans was on the market for $800K. There’s been a bit of chatter about this building in the last few months, with a potential developer flirting with the property before passing it up, and another developer, wunderkind Max Glass, putting it under contract fairly recently. We’re guessing it’s under agreement for less than the asking price of a year ago.
Earlier this week, Glass presented an information only session to the East Passyunk Crossing community and zoning committee. At this meeting, he discussed plans for twelve one-bedroom units on the upper floors of the building, with rental numbers in the $1,000 range. The commercial space would be maintained, but no possible tenants were mentioned at the meeting. From what we understand, the community had some density concerns, specifically relating to possible parking issues that would result from twelve new apartments on the Avenue. According to EPX Zoning Chair David Goldfarb, the community will explore ways to limit tenants with cars to deal with this concern.
Meanwhile, King of Jeans is on the way out, and looking to liquidate what we imagine is an ample supply of jeans. No word on what’s gonna happen to the phenomenal sign once it comes down from the building.
Meanwhile, could this development spur Septa to sell the huge building next door? Considering how much action takes place on Passyunk Avenue, this monolithic building that doesn’t interact with the street seems more and more out of place. Does anybody know what happens over there, anyway? Wouldn’t it make a lovely condo conversion?