If you've caught a flick at Ritz East lately, you've surely noticed that there's a major construction project happening across the street. For as long as we can remember, 130 S. Front St. has been a surface parking lot, but developers bought the property last year and are now pretty far along on a project called The Adagio.
The project entails fifteen humungo homes, about two-thirds of which have now been framed out. US Construction is the developer here, taking a different approach from their usual built and rent then sell model. According to the listings, which price the first homes are $2.5M, the homes will each have over 5,200 sqft of space, not including the basements, and each home will have two-car parking. The homes will have ultra high-end fixtures and appliances as you might guess, and will also come equipped with elevators. Each home will have 5 bedrooms, 1 office, 5 full baths, and 2 half baths. That's quite a lot of toilets. The roof decks will really be tricked out, with outdoor kitchens and a "plunge pool," whatever that means. JKRP Architects did the design work and the listings provide some renderings of what we can expect when the project is finished.
This project represents the latest entry into the Old City mansion game. Around the corner, four huge homes have been built and sold on Walnut Street. On Church Street, a seven home project has homes selling for more than $1.5M. Three huge homes have also appeared near 3rd & Arch, or you can get a relative bargain buying one of the eight Bread Street Estates homes, priced at just under $1M. Clearly, the developers for The Adagio believe that there are even more buyers out there looking for homes in the $2.5M range. We're cautiously optimistic that they're correct.