The 700 block of Front Street has seen some big changes in the last couple of years. And there's more coming.
First, we told you last spring about plans for four new homes on the northwest corner of Front & Fairmount. This site had been a community garden for quite some time, but now it's home to a row of unusually shaped homes. At least one of the homes, the place on the corner, has sold. Two more of them are now listed at $550K which actually seems like a pretty low price for new construction in Northern Liberties.
As you can see in the image above, there are some additional homes under construction immediately to the north. This is part of a project we first covered over a year ago. This property was a large vacant lot, but now a row of homes have appeared. In between the framed homes and the finished homes there's a row of foundations which will support another row of homes.
But remember, this project is supposed to include a third row of homes to the north, on the other side of Olive Street. To date, no construction has started on those homes. The reason is that the developers may prefer to sell that part of the project rather than build it themselves. Currently, the land is for sale along with approved plans to build eight more homes for $1.28M. At $160K/lot, there seems to be an opportunity there, but there's not a huge spread.
No matter who builds them, the last eight homes will surely get built pretty soon. These projects combined, along with other projects to the north, will represent almost four dozen new homes on Front Street, and that doesn't even count the hundreds of apartments over the two Pennthouse buildings at Front & Brown. So much construction, so many new units, it's a wonder that it took until now for so many of these properties to get redeveloped.