Wednesday, August 27, 2014
Inquirer Daily News

Major renovations were planned for Daly Street blast house

A bid document described extensive work in the basement of the house that includes installing a new furnace and re-installing the existing hot water heater, seen here in a photo found online of 428 Daly St. Emergency officials said they believe a worker was working on a water heater when the blast occurred.
A bid document described extensive work in the basement of the house that includes installing a new furnace and re-installing the existing hot water heater, seen here in a photo found online of 428 Daly St. Emergency officials said they believe a worker was working on a water heater when the blast occurred.

A relatively new development company that bought 428 Daly St. in South Philadelphia earlier this year had put out a bid offer to general contractors that included renovations to essentially the entire interior, according to a document found online.

Documents created by SCK Investments LLC, which has an address in the 2600 block of South Camac Street, proposed spending $68,750 on renovations and $5,500 on materials during the course of a major rehabilitation. City records with the Office of Property Assessments show SCK Investments bought the house in March for $65,000.

The bid form for general contractors has four pages of improvements to be made inside the home, including demolition of the "entire interior leaving wooden frame and stairs intact."

The document also describes extensive work in the basement of the house that includes installing a new furnace and re-installing the existing hot water heater. Emergency officials said they believe a worker was working on a water heater when the blast occurred.

SCK Investments executive secretary, Steve Finney, said "no comment" when reached by phone and hung up. A message left for SCK President Cathy Finney-Hughes was not immediately returned.

According to biographies found online, Finney-Hughes and Finney founded SCK Investments in February 2012.

"Since that time, the company’s principals have been engaged in raising capital, becoming educated in the business of real estate investing, and making offers to purchase investment properties," the introduction to the two said. "The mission of SCK Investments, LLC is to purchase neglected properties, to rehabilitate those properties and sell them. At some point in the near future, we also intend to buy properties to develop a rental portfolio."

Steve Finney was president of the Pennsylvania Association of Realtors in 1995.


Contact Brian X. McCrone at 215-854-2267 or bmccrone@philly.com. Follow @brianxmccrone on Twitter.

Contact the Breaking News Desk at 215-854-2443; BreakingNewsDesk@philly.com. Follow @phillynews on Twitter.

Brian X. McCrone PHILLY.COM
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