Friday, July 14, 2017

From Naked Philly. Read more here.

Loco Pez Finally On the Horizon at 20th & Bainbridge?

Construction recently started up again
Mr. Fox
Here we are again, on the corner of 20th & Bainbridge, telling you that a new Loco Pez location is coming down the pike. If this feels like deja vu, it's because we wrote a similar story last fall. And we wrote another story with a similar theme back in the summer of 2015. But this time we mean it! Probably.

Current view
Let's take a step back. For many years, this building was home to Robert's Twi-Lite Lounge, but the business cratered as the neighborhood gentrified. The building and its associated liquor license were informally available for years, but the asking price was "outrageous." As time passed and real estate in the neighborhood continued to appreciate while the price of liquor licenses concurrently exploded, that asking price eventually became palatable and it traded at $600K a couple years ago. Now, in retrospect, the price was perhaps a little low. Whoops.
As we told you before, the owners of Loco Pez bought the property and Robert's closed in the fall of 2015. The new owners got a variance from the ZBA in early 2016 to add a 2nd story to the building, which would effectively double the size of the restaurant. It wasn't until last fall that contractors finally gutted the place, but then it seemed like the project had stalled out. It was to the point that we've been hearing from someone every week or two, wondering what's going on with the property.
But as you can see in the image above, the workers have returned! From what we can see, it appears as though the addition work is now moving forward, full speed ahead. We have to think that the construction will take several months, probably running through the end of the year. But once it's done, Graduate Hospital will have a new neighborhood business on its hands, and yea the people shall eat tacos.
Unless, of course, over the course of the last two years, the owners have decided on some different concept for this location, and our foolish taco dreams were never meant to be. Perhaps someone that lives nearby has some insight?

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