It was just a couple of weeks ago that we drew your gaze to the 1800 block of E. Huntingdon St., noting a pair of triplexes under construction immediately next door to the Huntingdon El Station. In general, we find it surprising just how much development has happened so close to the El in recent years, but this new construction at Kensington Avenue was truly surprising. Today, we have news of a project in a slightly more predictable location, but with a much larger footprint. Please join us if you will, on the 1900 block of E. Dauphin Street.
This block is capped off by My Philly Pawn, the self proclaimed largest pawn shop in Philadelphia. At the end of the block is a community garden, and just across Emerald Street is Emerald Park. It’s like we said, this block is a step up from the 1800 block of E. Huntingdon Street. Still, we wouldn’t necessarily expect to see a ton of new construction on this block, but that’s exactly what’s happening.
Over the last several years, a developer called Triangle Flats has bought up a dozen properties on this block, on both sides of the street. They have demolished most of the old buildings they’ve bought, and are in the process of redeveloping them in piecemeal fashion. Currently, you can see that three triplexes are under construction on the block, and we have to think that they’ll develop their other properties in a similar fashion. Condos are certainly a possibility here, but we’d be more inclined to believe that rentals are what’s in store.
This is an interesting approach, buying up numerous properties that aren’t necessarily contiguous but still acheiving efficiencies of scale you’d enjoy if the properties were all connected. It reminds of a little of the Suite Row project on Cumberland Street and the Brewers Mill Townhomes project in Brewerytown. We wonder whether other developers take a similar approach in other neighborhoods, as demand for new construction remains high.