The Social Security Administration is moving into a new building at 43rd and Market when it is completed this summer. They’ll savor the new digs until our populace’s social security benefits run out sometime around 2033, according to a recent Wall Street Journal article. Then we’ll all account for ourselves, right? Well… maybe not.
Nevertheless, we spoke with a project manager from Kasco Construction, the builders constructing the roughly 15K sqft one-story office building, located at 4240 Market St., this week. He explained that they broke ground this winter and are set to pour the concrete floors this week. Media-based Linn Architects designed the project.
According to OPA, the site, which is listed as 4240-52 Market, was purchased last April for $700K by 4240 Market St LLC. Taking a look at the zoning archive, a McDonald’s was apparently proposed at this location in the late 1990’s, before the previous building on this site was demoed. Does anybody remember this?
The project could breathe new life into an area where, right across the street, we spied occupied but worn looking homes. Considering this project, along with plans for a pedestrian mall at 37th Street by Penn, it appears as though Market Street in University City is finally getting renewed attention.