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Remember when you freaked out on April Fools Day when we told you the Divine Lorraine was going to be demolished?

Divine Lorraine

Well, according to a report today on Philly.com, this outcome seems much farther from reality than it seemed previously. Developer Eric Blumenfeld has purchased this gorgeous old building, as well as the numerous and valuable vacant lots that sit behind it.

You may recall, Blumenfeld came forward earlier this year with a plan to convert the building into a contemporary art museum and rebuild four neighborhood schools in the lot behind the classic yet severely blighted Willis G. Hale beaut. We’ve heard nothing about whether any of these plans will ultimately come to pass, and we’re frankly not sure that this should necessarily be the plan for this important parcel moving forward anyway.

Lots in the rear

Blumenfeld purchased the properties at Sheriff’s Sale after purchasing the notes, which amounted to over $18M by our calculations. We’re certain that the bank gave him a significant discount, but we may never know how much.

And frankly, we don’t care! We’re just happy to hear that a credible developer with a good track record has stepped forth to ostensibly move forward with a project on this site. A rehab of the Divine Lorraine site will have an important positive impact for North Broad Street, Francisville, Spring Garden, and the Spring Arts neighborhoods. Hopefully, we’ll learn more about Blumenfeld’s plans soon, we can together rejoice as one of the most embarrassing and prominent sources of blight in Philadelphia is restored to her former glory.

Oh, and did we mention that Marc Vetri is talking to Blumenfeld about opening a restaurant in the building?

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Posted in Spring Garden | Tagged , , , , , , , , , , | 4 Comments
  • Developer Guy

    all in cost 8 million + change (taxes and mortgage note) including the four acres behind it………..the school thing actually makes since the schools need new buildings and it gives ‘EB” control over two more important/ large parcels Masterman’s building and Benjamin Franklin’s Building add the Stevens school @ Broad and Spring Garden which he has control over, then you start to have critical mass when you add in Bart Blatsteins project at the state office building, opening the door for a Trader Joe’s who EB has talked to as well as other restaurant, retail and entertainment establishments in the North Broad /Spring Garden-Farimount area. EB also has the project at 677 N. Broad (former homeless shelter) which Starr Catering relocated to…residential above that is the 2nd phase for that project………I just hope he can find all of the equity that he needs to get all these projects done at a reasonable return….without this dragging on for another decade just in time for another economic down turn/tight credit market

  • Daniel Faria

    Love this building. This is really good news!

  • Steve

    Someone should ask the great Eric Blumenfeld why he owes 15 residents at Abbott’s Square and the Association >$50,000 in Roofing Assessments and Condo fees. I tried asking, but he won’t return my calls.

  • http://nakedphilly.com/spring-garden/we-hear-whispers-that-the-divine-lorraine-has-its-first-tenant/ We Hear Whispers that the Divine Lorraine Has Its First Tenant | NakedPhilly

    [...] fall, we told you that developer Eric Blumenfeld had purchased the historic yet blighted Divine Lorraine, ostensibly with plans for a mixed-use renovation for the building. At the time, rumor had it that [...]

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