We were making our way to Northern Liberties the other day, and as we were passing Dave & Buster’s on Delaware Ave., we spotted a couple of projects under construction just to the west. One of them, at 10 Callowhill St., we’ve covered previously, a little over two years ago. When you consider that we alerted you to this project more than 24 months ago, perhaps you’d think that construction would be a little further along.
You may recall, we told you that developers had purchased this property, demolished a small building, and had plans to build a quartet of homes with seven figure price tags. The project, dubbed Callowhill Court, called for homes ranging in size from 3,600 sqft to 5,000 sqft and prices starting at $1.35M. Considering the continued demand for million dollar homes and the persistent lack of inventory around Center City, there’s a chance that the construction lag time will end up resulting in even higher prices for these homes than originally expected.
Around the corner, developers are working on a side-by-side duplex at 421 N. Front St. on a formerly vacant and overgrown triangular lot. This property is zoned for multi-family use and these developers are taking the road less traveled by building the units side by side rather than stacked, though the size and shape of the parcel seems to encourage the approach. Plus, giving both units river views seems like a no brainer at this location. As we assume the units will sell as condos, the views will be an attractive selling point.
Speaking of condos, let’s not forget about 402 N. Front St., a property we told you about back in early 2017. For years, this property was home to Eastern Scaffolding, a company that made it possible for masons, siding contractors, painters, and the like to do their thing from heights great and small. As we predicted, the scaffolding company has cleared out of this location in favor of residential development. Back when we covered the property before, we expected an eight-unit building with four parking spots. Somehow, the project evolved to three triplexes from Streamline, a project they’re calling “The Front at the Pier.”
Units are already listed for sale, at price points in the high $400K range. If pre-sales go well, we imagine the sale prices will only climb as they start selling through the units.