The former Times Chronicle building at 425 Johnson Street in Jenkintown is selling for $1,850,000 after a prospective buyer’s plans fell through.
According to borough manager George Locke, the buyer wanted to add a third story to build apartments on the second and third floors (as seen in the rendering below).
According to the listing, the 9,000 sf two-story office building is 100% leased and includes 21 parking spaces.
The property is being sold with the zoning entitlements to build 17 residential units. The original proposal, which was submitted August 31, 2022, called for 26 units.
“They got the approvals for the conditional use and zoning. They were ready to move forward and for whatever reason the project stopped,” Locke said. “The seller has it under agreement to bring a couple people in to look at it. They still have to get their sewer approval, but they have the heavy lifting done. We haven’t heard anything in about six months after having a couple serious buyers.”
Locke noted that agreements like this come with a time limit. The seller, Jamie Weiner of Delphi Property Group, LLC, has approximately nine months to find a buyer before current plans shift course.
In related news, the borough voted last month in favor of an agreement with the developers of a proposed apartment building at 459-471 Old York Road, the former Helwig’s Funeral Home.
“The borough was a party to the appeal that they made to the county after the last zoning hearing board hearing,” Locke said. “Basically, they have complied with the majority of the variances they’ve been requesting, including fewer apartments, wider sidewalks, and so forth. They addressed those things, so now they have a stipulation agreement with the borough.”
Locke said the agreement should be ratified this month and previously noted that the developers “changed the plans a lot” since being turned down in 2023.
“Ratification would be the first step. Then they’d go to conditional use and land development, get their sewer approval,” Locke said.
For all the latest news, follow us on Facebook or sign up for Glenside Local’s “Daily Buzz” newsletter here.
Photo: Loopnet.com