The intersection of 7th & Fairmount has seen some excitement of late, and there's more on the horizon. Remember last summer, a new Federal Donuts location opened up on the northeast corner, replacing a shuttered corner store. It's a really nice looking place, and the donuts are pretty good too. At the time, we were hopeful that the new FedNuts location might spur additional residential development nearby. Sure, Northern Liberties has seen tons of construction in recent years, but much of it has happened to the east of here- 7th & Fairmount technically isn't even inside the neighborhood boundaries.
We don't imagine it's directly related to the delicious fried products now produced at this intersection, but there is indeed some new development on the way nearby. The northwest corner is currently under construction, with heavy machinery digging some holes. The endgame here is a project that's been called the Franklin Court Townhomes.
According to the project website, we'll eventually see seventeen townhomes along with three triplexes. The three-bed three-bath homes will be starting at $525K, and we think that some are already under agreement. Some of the units will face Fairmount Avenue, and others will front 7th Street (and have fantastic donut views).
A drive-aisle will stretch between 7th and Franklin Streets, and each of the buildings will have a rear-access parking spot. That goes for the triplexes too.
If recent history is any indication, people will jump on these homes, considering the value. If these homes were being built a few blocks to the east, the prices would definitely be higher. But with the Northern Liberties core slowly pushing west and north (into South Kensington), people are more and more willing to move a little further out. We'll see whether this project spurs even more construction to the west- though train tracks between 8th and 9th Streets should eventually produce a hard stop.