Considering how much new retail is coming and the increased value of the properties on and near Baltimore Avenue in Clark Park and Cedar Park, it’s surprising that we haven't yet written about the vacant lot at 4829 Baltimore Ave., across the street from Mariposa Co-op.
You may recall, the co-op moved to a new and improved space on this block a couple of years ago, dramatically increasing the size of their operation. And it seems possible that their move has inspired others to take a shot with this part of Baltimore Ave., with businesses like Little Baby's Ice Cream opening at 49th Street last spring, and before that, Marvelous Records just up the block, and Seeds Gallery on the 5000 block. With all the retail momentum in the area, it seems like any vacant lot would be ripe for redevelopment.
The property was last purchased for $36K in 2006. Considering what homes are selling for the in area and the rarity of new construction, the mind reels at just how much profit the owners could make here. One issue is that because of the classic Victorian look of the neighborhood, whoever develops the site will have to go through Cedar Park Neighbors if they plan to build something out of character with the neighborhood. Farther east on this block, Diversified Realty Ventures purchased 4812 Baltimore Ave., which was a lot used previously as a community garden, for $92K. Before developers' plans for a mixed-use home were approved, they went through a community process where neighbors worked to ensure the new building would fit into the Baltimore Ave. Victorian flavor as much as possible. At least according to the how the framed building looked recently, it’s perhaps less Victorian than expected.
So how about it? Do you think this lot will be vacant for long? Would a single-family home be appropriate here, or a multi-family? Or perhaps mixed-use, considering the nail salon next door. Of course, the owners would have to put it up for sale first. Or they could develop it themselves! With plans for Babylon Bistro, a new jazz club and more to open this year on the 5000 block of Baltimore Ave., the potential for this lot is quite clear. The timing for when that potential will be realized, however, is an open question.