A vacant lot at Broad & Fitzwater has had some ups and downs in the last couple of years. In early 2013, we told you that the folks who built the Artisan Homes on Bainbridge Street would be developing the parcel, building eight huge homes that would be listed at $1.6M. As the calendar flipped to 2014, we learned that the project wouldn't be happening after all, and that the 11K sqft parcel was on the market for $6M. When we passed by this intersection earlier this week, a sign on the site suggested that a new and exciting plan had emerged for the parcel- eight luxury homes. We're thinking it's a different developer this time.
A sign led us to a website for the project, dubbed Mona Lisa's on the Avenue of the Arts. The eight homes will have 4 bedrooms over 4,500 sqft of living space, two-car garages, and ultra high-end finishes. Prices start at $1.35M, making them much more affordable than the previously planned $1.6M homes.
While it will be great to see this vacant lot finally disappear, we feel a little torn about this development. When we wrote about this parcel in the past, we opined that South Broad Street close to Center City is the perfect place for mixed-use midrise and high-rise buidings, and single-family homes feel like an underuse. 777 South Broad and Southstar Lofts have shown the way, and it's surprising that nobody was able to cook up a scheme for this parcel to do something along those lines. Nevertheless, we imagine the new homes will sell briskly and the new owners will greatly enjoy life on South Broad Street.