Since opening late last year, Kensington's Kung Fu Necktie has blossomed into quite the spot to catch super-intimate shows featuring both national acts and some of Philly's best talent.

The latter will be offered in fine form this evening (June 18) with a lineup that includes two of the city's most-buzzed-about bands - The War on Drugs and The Capitol Years.

The show comes as both bands work on forthcoming albums and prepare for European tours.

For The Capitol Years, last year was consumed by live shows, hectic personal lives and some touring with famed indie rocker Daniel Johnston. They kicked off that relationship with a show at the Trocadero in February 2008, and have since played a handful of gigs together.

Before that, they released their fourth full-length, Dance Away the Terror, a 13-track gem that blended political angst with ringing guitars and ghostly melodies.

But that was way back in 2006, and fans of The Capitol Years have been hungrily lying in wait for a new release. It looks as though they may soon get their fix.

Shai Halperin, the Years' founder and front man, says he has an album recorded and nearly ready for release. Watch it Not Happen was recorded at Jeff Zeigler's (of Arc in Round) Uniform Recording studio at 13th and Spring Garden streets in December and January.

While the rough draft of the album has made the rounds only among some friends and family, it has already received at least one rave review.

"My mom says it is her favorite record," Halperin says, laughing, "but I think she's said that about every one so far."

Halperin introduced the world to The Capitol Years' sound in 2001, when he recorded Meet Yr Acres with a four-track recorder. The lo-fi debut - heavy on a raw sort of garage energy dubbed with vintage pop goodness - was received heartily by fans and critics alike, pushing the Philly musician to assemble a real band.

Their shotgun EP Jewelry Store, six songs recorded in six days, kept the buzz alive until the 2003 release of the Pussyfootin' LP. Actually recorded in 2000/01, the outtakes album featured more of their debut's rough beauty but showcased a more folk-oriented side that shined through slide guitar and acoustic finger-picking.

Two years later, Let Them Drink saw The Capitol Years swing back toward the rocking end of the spectrum, this time with a healthy dash of 1960s psych and some modern-day power pop. By that time, the Years had gained fairly widespread recognition and were playing opening slots for a Pixies reunion tour.

They quickly followed up with Dance Away the Terror, only to fall into a somewhat quiet spell.

Halperin says that, in part, it's because his life has been busy with things like getting married and fixing up a house, not to mention some live shows here and there.

But he also notes that he was missing that crucial touch of inspiration needed to lay down tracks with confidence. Whatever was missing, Halperin found it as 2008 came to a close and he made his way to Uniform Recording, where Zeigler has worked with musicians ranging from War on Drugs and Clockcleaner to Kurt Vile.

He worked on an album that he says will differ somewhat from his well-received Dance Away the Terror, released on Park the Van Records.

"This is more melodic than some of the other albums I've done, and there are some slowed-down songs that are more atmospheric," says Halperin.

This work also has a different feel because it was recorded in an actual studio, he noted, as opposed to his apartment, where he said the necessity to appease the neighbors made some tracks on Dance Away the Terror "vocally very wispy."

"Working with (Zeigler), I think we got some good quirky moments," said Halperin.

As for its release date, Halperin is shooting for winter 2010, though that could change as the band shops around for a potential label and toys with doing an earlier release in the United Kingdom.

"It's basically a full record that is mostly done," says Halperin. "I've sort of tucked it away for a little bit so I can step away from it."

With a handful of singles released through the British Broadcasting Corp., the band has created some buzz across the pond, and Years will head that way after its Philly show for a seven-stop tour that includes the mammoth Glastonbury Festival.

Halperin says those looking for a taste of the new record can get it at the Kung Fu Necktie show; about half the set will be new material.

Also look for fresh songs from The War on Drugs, which is building on the success of Wagonwheel Blues, released last year on Secretly Canadian. They too will head across the Atlantic following their KFN show for a tour in Spain, returning to Philly for an Aug. 5 concert on the waterfront in Penn Treaty Park.

Who: The Capitol Years, War on Drugs and High Strung

What: Some of Philly's most buzzed trying out new material

When: Thursday, June 18, at 8 p.m.

Where: Kung Fu Necktie, Front and Thompson streets