A reader gave us the heads up over the weekend that 770 S. 16th St. was being demolished. This intersection has been in the news lately for the planned conversion of the former YWCA building on the 1600 block of Catharine into 28 residential units with parking in the rear. It was previously in the news in the summer of 2011, when someone was murdered here in the middle of the day.

As for the home currently being demolished, it was purchased a few months ago for $175K, after coming on and off the market repeatedly over the years. A few years ago, it was rented at a very low price of $725/mo, indicating it wasn’t in such great shape inside. We’d guess that by the time next weekend rolls around, the building will be no more.

The property

A peek inside. YWCA building on the left.

Permits have already been pulled for the construction of a new home, which we’d guess could be listed for over half a million.

Meanwhile, catty corner to the demolition, a former corner store is available for sale. 1536 Catharine St. is listed for just under $275K, which seems like a king’s ransom in comparison to the price paid for the property across the street. Regrettably, we imagine that this property will likewise be demolished when it’s ultimately purchased, and the new owners will probably try to eliminate the commercial use at this corner. While this makes plenty of financial sense, it will leave the neighborhood with one less commercial space, which is a bummer for residents who crave more amenities in the neighborhood.

Buy this gross old grocery!

But perhaps we’re speaking too soon. It’s possible that someone will come to the table who is willing to maintain the commercial use, and would probably add a third story to the existing building and rent out the apartments on the upper floors. But only time will tell. Of course, none of this will take place until the asking price comes down some…