October 11: FringeArts’ first shows at new home | Templetown’s housing bubble | Masterman and Central reopen libraries | Rep. Fattah investigated by FBI | Trader Joe’s for Chestnut East?

Happy Friday, Streeters! Here’s what’s shaking today:

This weekend marks the first performances in FringeArts new space in the rehabbed pumping house at Race Street and Columbus Boulevard. The new theater is finished, NewsWorks reports, and will begin showing Fringe hit “The Elephant Room.” Meanwhile work will continue on the new bar, restaurant, and outdoor courtyard area into the new year. 

Citypaper is wondering if Templetown’s housing bubble is about to burst. Some recent speculative developments geared at students, like The Edge and Diamond Green, have a pretty high vacancy rate. Has the neighborhood finally become saturated with expensive, small apartments geared at students after years of speculative development? 

Libraries at Masterman and Central High School were closed last month because budget cuts left no librarians to run them. But the Inquirer reports that an anonymous individual has donated $205,000 to reopen the libraries at Masterman and Central this year. The funds will cover salary and benefits for two librarians.

U.S. Rep. Chaka Fattah has been under investigation by the FBI for seven years, the Inquirer reports. A subpoena was delivered to city offices requesting records relating to property tax and water bill payments for properties owned by Fattah.

Back in July we learned that Brickstone Realty had scooped up the blighted and vacant buildings at 1122-1128 Chestnut Street for a cool $8 million. Naked Philly reports that Brickstone plans to turn the 1118-1128 Chestnut into a new mixed-use building. The developer intends to demolish 1118-1124 Chestnut and everything behind the façade of 1126-1128 Chestnut to build a new six-story structure. Inside the upper stories will house 80 apartments above a bi-level retail space. And rumor has it, Mr. Fox says, that retail space could be Center City’s second Trader Joes.

The Buzz is Eyes on the Street’s morning news digest. Have a tip? Send it along.
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