Have a question about Philly’s neighborhoods or the systems that shape them? PlanPhilly reporters want to hear from you! Ask us a question or send us a story idea you think we should cover.

More than 20 years ago, SEPTA agreed to lease Richard Allen Lane Station to real estate developer Ken Weinstein. He renovated the vacant building in West Mount Airy, then brought a coffee shop to the first floor and rented the apartments above.

The historic property has been occupied ever since.

Now, amid a financial crisis, the cash-strapped authority is set to lease out five more Northwest Philadelphia rail stations to Weinstein, a deal that saves SEPTA millions while removing blight in those neighborhoods.

The SEPTA Board is expected to approve the first-of-its-kind contract during its regular meeting on Thursday, when it will vote on a related resolution.

“This is a win-win situation for SEPTA and the Northwest Philadelphia community. These five historic buildings have the potential to become community hubs – benefiting SEPTA riders and people in the surrounding neighborhoods. It is also another example of how we continue to do our part to control costs and be good stewards of taxpayer dollars,” said SEPTA spokesperson Kelly Greene in a statement.

If approved, Weinstein’s company, Philly Office Retail, would pay SEPTA $1 per year for up to 99 years to lease the five stations. They are Gravers, Mt. Airy, Carpenter, Tulpehocken and Upsal.

Weinstein, who has revitalized several historic buildings in the area, is thrilled SEPTA selected his bid to overhaul the stations, which sit along the Chestnut Hill East Line and the Chestnut Hill West Line.

“Right now, these stations bring down the community because they’re vacant and deteriorated, and blight is not good for anybody. By restoring and reusing these stations, we can help attract SEPTA riders, we can help create a better quality of life for people in the neighborhoods,” said Weinstein.

SEPTA estimates it would cost the authority $4 million to renovate all five stations. It also spends $150,000 a year on annual maintenance costs. The authority is facing a $240 million-plus deficit in the fiscal year that starts July 1.

Weinstein said he expects to spend $1.5 million on the project. If his company signs a lease with SEPTA early next year, the work could be completed by the middle of 2026.

All five stations are two stories, giving Weinstein the opportunity to create mixed-use developments like Allen Lane Station. The developer has yet to line up any commercial tenants, but said there is “strong demand” from a coffee shop business for Upsal Station.

“​​Having mixed-use, commercial and residential together brings us 24/7 security. So people are there during the day,and people are there in the evening, and that’s worked really well at Richard Allen Station,” said Weinstein.

SEPTA’s financial woes, which could result in service cuts, are not expected to impact the renovations.

“One of the things that was made clear by Philly Office Retail and Ken Weinstein is that they see these sites as community-facing and a community benefit, not just an asset to the SEPTA rider,” said Greene.