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A ‘giant’ down payment | Real Estate Newsletter

And school buildings to close.

Allie Ippolito / For The Inquirer

One family’s list of must-haves narrowed their home search to just one property in Passyunk Square. And it wasn’t even on the market — yet.

Fast forward a few months and the couple snagged the first viewing and snatched up the century-old house. The homebuyers were able to make a down payment of $300,000 thanks to the sale of their former home.

Read on to see which traditional South Philly home feature the family rebuilt because they had to have it.

Keep scrolling for that story and more in this week’s edition:

  1. Fate of neighborhood schools: Get caught up on the Philly superintendent’s plan to close school buildings and see how people are reacting.

  2. A long-awaited road map: See what’s in Gov. Josh Shapiro’s new housing plan for Pennsylvania.

  3. Neighborhood landmark: Find out which of Philly’s last architecturally intact old movie theaters has officially been recognized as historic.

  4. Modern in a Victorian-era town: Peek inside this ranch house in Lambertville that the homeowners completely transformed.

— Michaelle Bond

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Homebuyer Catherine Wargo Roberts calls one aspect of her home renovation “a vanity project for sure.” But she doesn’t regret it.

She really wanted a traditional South Philly vestibule in the front of her home, so she rebuilt one. “Best money I ever spent,” she said.

Speaking of money, she and her husband put down what she called a “giant down payment” of $300,000 on their $725,000 home to keep the monthly mortgage payment manageable for them. That was possible because they sold their old home.

The family loved living in Passyunk Square and didn’t want to leave, but their block of both homes and businesses had gotten too busy. And they wanted more space, especially outside.

Keep reading to learn about complications with the home sale and why the homebuyers sought out an unfinished basement.

It’s common for homebuyers to pick locations based on the schools their kids would attend. And families get deeply attached to their school communities, whether residents are new or have been living in an area for generations.

That’s why it’s not surprising that a plan to close some Philly schools is getting pushback.

The School District of Philadelphia has around 300 buildings, including more than 200 schools. Many buildings are at least 75 years old and not in good condition.

Some schools have 1,000+ empty seats, and others are squeezing students in.

This week, City Council members grilled school district officials about the superintendent’s plan to address these challenges.

Over the course of a decade, according to the plan:

  1. 20 schools would close.

  2. 6 would be co-located inside existing school buildings.

  3. 159 would be modernized.

Before the superintendent’s scheduled presentation to the school board next Thursday, read up on his plan and the reaction it’s gotten.

The latest news to pay attention to

  1. Protections for renters, $1 billion for infrastructure, homebuyer support, and more. See what’s in Gov. Josh Shapiro’s new housing plan.

  2. Under new leadership, Women’s Community Revitalization Project is developing apartments on public land in Kensington.

  3. One of Philly’s last architecturally intact old movie theaters is officially recognized as historic.

  4. After years of delay, apartments are coming to a former factory in East Kensington.

  5. A six-story hotel is in the works to replace the Broad Street Diner.

  6. Brandywine Realty Trust is opening a $60 million hotel in Radnor.

  7. Meet the Philly native and St. Joe’s Prep grad running Philly’s largest outdoor shopping center operator.

  8. House of the week: For $499,000 in Elkins Park, an end-unit townhouse with two decks and a finished walk-out basement.

Lauren Braun-Strumfels and Kyle Strumfels lived in a rowhouse in Lambertville, N.J. when they started eyeing the neighboring standalone house.

They and their two kids had outgrown their home, and the couple had a vision for how to transform the other property, where maintenance had lapsed for decades.

The couple bought the house in 2017 in a “very stressful and very intense” process, Braun-Strumfels said.

Then, in the first round of renovations, the homeowners:

🛠️ moved the kitchen

🛠️ bumped the back wall out to create more space

🛠️ added a Jack-and-Jill bathroom

🛠️ upgraded mechanical systems

They turned the home into a California modern-inspired ranch house.

“Sometimes I wondered if people would be mad we stuck a modern house in the middle of this [Victorian-era] town, but people seem to really like it,” Strumfels said.

Peek inside the family’s home and learn about the second renovation, which created an “adult wing.”

📷 Photo quiz

Do you know the location this photo shows?

📮 If you think you do, email me back. You and your memories of visiting this spot might be featured in the newsletter.

Last week’s quiz featured a photo captured in the East Conservatory at Longwood Gardens.

Shout-out to Doug S. and Jeff B. for getting that right.

Jeff said: “Wonderful place to go to beat the cold weather blues. Every now and then we just need a pick-me-up, especially since we like to garden. Every season has something new to see. Been going there since I was a kid with my parents and now we are senior citizens and still love it.”

I’ve only been to Longwood for a reporting assignment or two. But last week’s photo and Jeff’s memories are making me want to flee there for my own winter pick-me-up.

📹 On the street

A couple weeks ago, I shared the latest news in the saga of suspicious property sales near Temple University. Buyers seemed to be paying almost double the asking price for buildings that had been sitting on the market.

According to an Inquirer investigation, more than two dozen Philly-area real estate agents helped arrange $45 million worth of questionable deals involving student rentals.

My colleagues’ new video lays it all out.

Watch the video and join the conversation here.

And enjoy the rest of your week.

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