If there weren’t those buildings in the background, one could think this photo (framed by lush, maturing greenery and grass as long as the afternoon sun) was something from Forbidden Drive. This vacant lot just shy of 10,000 square feet at 763 South 19th Street, the former site of the old Varick Church, was originally zoned and approved for a high-density (24 unit) condo building. The site then went into foreclosure last September and the lender for the project, Penn Liberty Bank bought the lot. The orphaned corner spot recently sold for 800K to an individual (someone who has significant experience with parking lots…their words, not ours) who submitted plans at a SOSNA hearing for the construction of 10 single-family homes with rear parking and roof decks. There will be five homes on 19th and five on Dorrance Street, with a common driveway in the rear being used for parking. SOSNA and the Zoning Board of Adjustments have approved the project, and we believe that construction should start shortly. $80K a lot is an incredible price for this corner where vacant single family lots typically sell for $150K. We are pretty sure the new owner knows exactly what he is doing, and look forward to the development of this longtime eyesore. We’ll pass along drawings as soon as we have them.
Is That Fairmount Park Or The Future Site for a Very Profitable Project in Philly
May 6, 2011No CommentsGraduate Hospital