An old warehouse at 5th & Poplar has been razed to make way for twenty-one new homes in Northern Liberties. Developers pursued a somewhat lengthy process with the Northern Liberties Neighbors Association (NLNA) before the group agreed to support the project this spring. The fact that demolition has now taken place gives us a good sense that the ZBA has given their approval as well.
This winter, the developers first proposed 24-units on the site, acquired for just over $1M in March of 2012. But NLNA members found the plan uninspiring. Some preferred a loft type renovation that preserved the warehouse. After many adjustments and discussions, NLNA and the developers agreed on twenty-one homes with roof decks and 2:1 parking, according to Larry Freedman, NLNA zoning chair. Thirteen of the homes will front 5th Street, while the other eight will front Randolph Street. By that rationale, look for a curb cut for a common drive on Poplar.
This makes this area of Poplar Street a busy section in terms of redevelopment. A block west at 6th & Poplar, four high-end homes were recently built and were first listed around $665K. An additional four homes are currently being constructed to complete this eight-unit development. To this point, only two of these homes have sold at a price of $530K, with one more under contract and the other five still listed for sale at prices between $575K and $600K. We wouldn’t be surprised if this large new development just down the street gets the rest of those homes sold in the coming months.
As a thoroughfare, Poplar Street has been home to vast improvements over the past few years. Right now, a number of projects are completed or taking off at 19th & Poplar in Francisville. And there are even a few down near the waterfront on Front Street in Northern Liberties. Even in Brewerytown, there’s a good chance that a huge vacant lot at 27th St. between Poplar and Girard will be redeveloped soon. Yes folks, Poplar Street is hot from east to west these days. Can’t wait to see what’s next.