A little over five years ago, a fire struck at 2001-03 S. 4th St. and was so devastating that the large apartment building had to be demolished. We checked in on the parcel about half a year after the fire and it was a large vacant lot. Years later, it looks pretty much the same.
The property was actually listed for sale before the fire and somewhat oddly, each of the eleven units in the building were separately deeded. With the old building long gone and a 3,000+ sqft lot crying out for redevelopment, developers now will look to redevelop the property but with far fewer units. Plans call for four new homes on this parcel and we'd guess that two of the homes will front Moyamensing Avenue and the other two will front 4th Street. Each home will have a garage, but we're unclear on whether the parking will be accessed from the front or the rear.
This project, assuming it gets approval from the ZBA, will dovetail nicely with the Moyamensing Place project just up the block. We first told you about this project at Moyamensing & Moore several years ago, but it only got moving a little over a year ago. When we last checked in, the project was just getting in the ground. Today, fifteen homes have been built and a few have already sold. According to the listing for one of the homes, the base price is $450K which gets you 3 bedrooms, 2.5 bathrooms, and a parking space.
We imagine that additional vacant lots in Pennsport, and more commonly old warehouses, will turn over in favor of residential use in the coming years. We can see that demand clearly remains strong in this neighborhood, even as you approach Snyder Avenue.