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BY AARON WASSERMAN

In print | Published September 9, 2004

The building that housed Michael’s College Pharmacy, the Ville institution that has been closed since March, is moving toward new ownership.

The plan to sell the storefront and four apartments above it to a real estate investment group could be finalized as soon as Oct. 1.

Lee B. Greenwood, the real estate broker handling the sale, declined to divulge specific details about the deal, because he said it could jeopardize the purchase.

Neither the college nor the borough administration has been informed of the nature of the buyer. The potential owner has not applied for a building permit, which suggests there are no immediate plans for renovation.

Greenwood said that the owner would rent out the apartments and a retail store but that the contract specifically prohibited the opening of another pharmacy.

College administrators said a student-oriented store is a high priority, and Vice President Larry Schall said the college plans to participate in the recruitment process for the building’s new retail tenant.

The college was approached by the borough about purchasing the building itself but declined.

Borough Mayor Elric “Eck” Gerner said residents “need a business that will attract people — a foot-traffic, retail-oriented store” to draw in patrons from the surrounding area.

“Having something to generate student and faculty interest would be great,” Gerner added.

Tom Huestis, borough director of finance and community development, agreed.

“We have an interest in having something retail-oriented, as opposed to professional,” he said.

“I know students would love to see a space where they can go late,” Vice President Maurice Eldridge ’61 said.

The store presents a complex opportunity because of the combination of its location near the train station, its well-known façade, and its deceptively small size.

Since it measures just 1,700 square feet, it is extremely unlikely that the storefront could entice a big-name chain retailer, borough officials said.

Both Gerner and Huestis firmly denied a rumor that Starbucks Coffee had been contacted about opening an outlet.

Schall said a restaurant or café would be the best option, especially for drawing student patronage.

Interest regarding a prospective buyer is palpable in the entire community.

Theresa Richardson, the co-owner of Occasionally Yours, said she “would like to see a gift shop, stationery shop or clothing store,” but not a restaurant that might detract from her business.

Mark Hanis ’05 suggested a food store, one that had “socially responsible management — the living wage and organic products.”

He also suggested that the college offer a grant to recent alumni or to students so they could develop an establishment in the space. He said greater college involvement would be integral to attracting more student patronage.

“This is a great opportunity for a Swarthmore College – owned business,” he said.

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