A local business owner plans to combine two vacant lots at 534-36 E. Cabot St. that he acquired in the spring of 2008 for $95K into one and construct a single-family home designed by Jenkintown-based Lance R. Kraemer Associates. The drive to combine the lots likely came from the fact that each one is under 12.5’ wide, which makes home design a nearly impossible task. The combined lot will be almost 25’ wide, providing the architects with considerable room to work on a unique design.
We're wondering if the owners bought the property in 2008 with plans to develop that were curtailed by the recession, or if they instead purchased the property as part of a bargain package and waited until a ripe time to build. The Fishtown Neighbors Association voted in support of the project at a meeting last month. The new construction will fill-out a residential block that features three-story rowhomes closer to this property, and two-story homes on the far end of the block closer to Palmer Street.
This property is located close to the Girard Avenue commercial corridor. That yet another project is occurring here suggests that the recent strength of the neighborhood, as defined by the influx of new construction and businesses, is inspiring those with property to capitalize on the rising value of housing stock sure to follow.