There are new plans to convert the former Annunciation grade school at 12th and Wharton st. into upscale loft apartments. Informed this past February that their school would merge with St. Nicks, the school was closed to students in June.
Owned by the archdiocese since the 1940s the building (according to city records) was valued at $2.9 million and for sale for $3.1 million.
Wharton Street Lofts a local development group recently inked a deal and signed a sales contract, although real estate agents would not comment on the details of that contract.
Developer Leo Addimondo who represents the group said “we’re trying to build nice apartments-the same apartments you might see in Center City. “The development group plans to turn the former school into 48 upscale apartments. The apartments will feature amenities such as granite countertops and stainless appliances. The building which will most likely be re-named the Wharton Street Lofts could be ready as soon as 2014.
To read more details visit: http://articles.philly.com/2012-10-13/news/34413789_1_new-development-nice-apartments-annunciation