Already in Progress: Moderna 9 on Leithgow

A reader pinged us the other day, letting us know that a sign is now posted at the corner of Leithgow & Thompson, advertising an upcoming development called Moderna 9 on Leithgow. We told you about this property last summer, noting some zoning notices and lamenting that the developers had purchased the property from a City agency for $150K, roughly half the price it would have sold for on the open market. The zoning notices weren’t entirely clear, and by our reading, they called for two homes and three duplexes on the property. We weren’t sure how the community would respond, though.

View at the corner
Looking down Leithgow

According to the sign on the site, the project calls for 7 town homes and 2 condo units in a duplex. Get it? That’s why the number nine is in the name of the project. But it’s quite clear that you can’t fit seven homes and a duplex on the 3,700 sqft corner property. Okay, maybe it’s theoretically possible, but you’d end up with nine units that nobody is gonna want to buy. A peek at the project rendering gives a clearer indication of what’s to come:

Project rendering

We can see, five buildings will go up on the corner property, and we’re guessing that the corner building will have two units. The developer is building three more homes on lots further to the south on Leithgow Street, and at least two of those homes are already under construction. We didn’t realize at the time that they were part of a larger project, but we told you about the zoning notices for the southern homes about a year ago. The sign for the project further indicates that the new homes will be priced in the mid-$500K range, which seems like a somewhat aggressive price point at first glance. Then again, these homes are less than a block away from Northern Liberties, and new construction prices in South Kensington are nothing to sneeze either. Given the price hikes we’ve seen around these parts, we wonder whether the prices for the homes might even tick up toward $600K by the time the project wraps up.