Triple Triplexes on West Thompson Street Friday, October 21, 2016
A reader tipped us off about three buildings currently under construction at 2337-41 W. Thompson St. on the Brewerytown/Sharswood border, and we had a funny feeling we'd been to this block once before. And it just so happens that we have been here! A couple years back, we covered some demolition at 2400 W. Thompson St., and since then a new quadplex has risen in the place of a long blighted building. A similar story is now playing out with those three properties on the 2300 block.
Looking at the Google Street View from a couple years ago, it appears that all three of these properties were vacant and blighted. Developers from FJM Investment Group have purchased the properties over the last couple years, and this year they tore down the old buildings even though two of them had some pretty lovely bones. Now they're in the process of constructing three triplexes.
This location seems a little odd to us in terms of new construction. In Sharswood, we're seeing a tremendous amount of new construction in terms of affordable housing and in Brewerytown we're seeing all kinds of market rate development. But this block, technically in Sharswood, isn't quite close enough to either of the centers of development and that makes it feel like it's happening on a bit of an island.
Given that this appears to be market rate development, we'd be inclined to lump it in with Brewerytown construction and if Brewerytown development is indeed drifting this far east, it could be an indication that the neighborhood will see even greater growth in the coming years. Then again, this could also be a developer reaching a wee bit and hoping that the market reaches this block in force at some point in the future. What do you think?