13th & South has been on our mind for years. Back in the summer of 2012, we first brought the property to your attention, pondering the absurdity of a huge vacant lot on such a prominent corner. So last summer, we were particularly jazzed to share news that the parcel had been sold and development was on the horizon. We were further pleased last fall to share details of the project, along with some sweet renderings, designed by Interface Studio.
A refresher: The folks at PRDC Properties are creating two related but discrete projects on this parcel. The Residence at Twelve40, the building on South Street, will include eleven condo units and first floor retail space. The condos are 2 bed/2 bath units with 2,000 sqft of space with prices starting at $349K. The project website indicates that nine of those units are now sold, which is quite impressive considering the current state of the building.
The adjacent project was previously known as Katertown and was to involve ten condo units with parking with prices starting at $599K. Somewhere along the line, the developers decided to change course, scrapping condos in favor of high-end single family homes. The new plan, now called Bedford Place (no relation to Bedford Cafe, sadly), calls for 4,300 sqft homes with parking and prices starting at $1.4M. Wowza. When we passed by the other day, we noticed a new hole in the ground, perhaps an indication that construction is getting underway.
This immediate area has seen considerable change in recent years, ostensibly encouraging this high-end development. A block away, Southstar Lofts and its associated restaurants have transformed the corner of Broad & South. New homes have appeared on the 1300 block of Kater and the 1200 block of Bainbridge, along with a small condo building. A rounded building replaced a couple of old structures on the 1300 block of South, and a Dog School could soon reinvigorate a long-vacant building on the same block. So why not homes that sell for nearly a million and a half? It will be telling to see whether the developers are able to sell those homes with the same speed they sold the units on South Street.