A reader checked in the other day, wondering about Cherry Street West, a large development that was once proposed for a surface parking lot at 23rd & Cherry. The sign on the site is faded and graffitied, and our first guess was that the project was probably dead.

The site

The sign

As you might expect, the website shown on the sign no longer exists, lending credence to our initial thought. Doing a little more digging, we learned from a Skyscraperpage thread that the project died back in 2008, as one of the partners in the deal was convicted of fraud and the real estate market dipped.

Nearby sales office is for rent

And so, the lot has remained a parking lot and the rental office down the street has apparently remained closed for the past several years. But could there be something new and exciting at this location sometime soon? Poking around on public record, it appears that the property went to sheriff’s sale earlier this year over a sum that approached $8M. As a result of this sale, it seems that PMC Property Group was able to acquire the parcel (for less than the $8M owed, clearly). These guys have their hands in numerous projects at this moment, but we’d imagine that they will get around to developing this site sometime in the coming years.

And frankly, based on development that’s been going on around these parts of late, they should be getting pretty high prices on anything residential. We’ll keep an eye out for any news around here…