Remember Hagert Square? Years ago, we told you about plans to build thirty homes on the 2400 blocks of E. Hagert and E. Gaul Streets, on a lot that was vacant at the time and surrounded by a cinderblock fence. We've checked in on the project a few times over the years but not since the summer of 2013, when the homes on Hagert Street were finished but the homes on Letterly Street were just getting framed out. Needless to say, the project is now finished. Just about all the homes have sold, with prices ranging from $365K for the homes on Hagert Street to about $400K for some of the homes on Letterly Street.
When we first brought this project to your attention all those years ago, we also noted the presence of a giant building at 2501 E. Hagert St., right across the street. We wondered whether the presence of this building, which looks like it's made out of South Philly-style vinyl awnings, might have a negative impact on Hagert Square. We also speculated that, pending the success of Hagert Square, this former metal foundry would be an attractive piece for a developer.
It turns out, developers purchased this property in November of 2012. And they paid a mere $425K. We aren't sure whether this would have been considered a good value at the time, but it's a great value in the current market. Even with if you assume that the site requires some environmental cleanup, they still got an amazing deal. The name of the owner, Hagert Dev LLC, is very similar to the name of the company that did Hagert Square, but their address doesn't match up in public record so it's possibly the same folks and possibly someone else.
Whoever it is will be going before the ZBA this week with a plan to demolish the old foundry and replace it with twenty-three homes, each with a parking spot accessed via a drive-aisle. We would expect that, like Hagert Square, most of the homes will front either Hagert or Letterly Streets, but given the odd shape of the lot it's possible some of the homes will front Gaul Street. Also, we'd guess that the developers will go for a more traditional three-story home, in contrast to the project across the street.
But these are just details. The news of the moment is that this old building will soon be no more, and a bunch of homes will arrive in its place. Part of us will lament the loss of this old structure, which is certainly an interesting building to look at. Then again, if we lived nearby we'd probably cheer its demolition- seeing it every day probably isn't too much fun. And we'd propose reusing it, but… what about parking?!?!