We’ll refrain from sharing the specific results from a recent 4am jaunt to Sugarhouse, but after this unmitigated disaster, we noted an interesting rickety and seemingly vacant building across the street from the casino, at the corner where Shackamaxon St. hits Delaware Avenue. Since the casino recently announced its plans for an expansion, and with news of various waterfront developments the past year, like plans for a major mixed-use entertainment rooted development that includes the Richmond Street warehouse complex, just north of Frankford and Delaware Avenues, we decided to come back and check the building out in proper daylight.
It turns out the entire 1100 block of N Delaware Avenue, which stretches between Shackamaxon and Marlborough Streets, is owned by the same developer. They acquired the parcel in question, 1100-02 N. Delaware Ave., for $3.9M in May, 2008, according to public record. Next to the building is a parking lot, some demoed ground and a wholesale furniture building. Of the remaining parcels on the street, 1106-24 and 1126-28 were also acquired in the same transaction back in ’08. The final parcel, 1130-54 Delaware Ave., was acquired in February, 2009, for $2.4M. In all, that is about a $6.5M investment. Who is the developer, you may ask? Well, our money’s on Core Realty, developers of Penn Treaty Village. At least that’s what the address listed in public record would suggest.
With all of Core Realty’s plans for this general area, it seem unlikely that this building and the rest of the block will remain idle and undeveloped for long. As expected, we’ll keep an eye out for what’s coming next.