The iconic art supply store closed in 2014
Well, that didn't take too long. Longtime Canal Street institution Pearl Paint officially closed two years ago, and was listed for sale not long before that. Apparently it found a buyer in Trans World Equities, which recently filed plans with the Department of Buildings to convert the former art supply store into a new mixed-use building. (h/t 6sqft)
According to the plans on file, the developers want to combine the buildings at 308 and 310 Canal Street and plop a two-story addition on top; the first floor would hold retail, while the second through sixth floor would be devoted to apartments. Paul Castrucci is the architect of record; his firm is known for its work on passive house architecture, and is behind the forthcoming revamp of ABC No Rio, among other eco-friendly structures.
One thing that may stand in the way: the Landmarks Preservation Commission, given that the building is within the Tribeca East Historic District. The structure at 308 Canal was built around 1864, and 310 was constructed in 1879.