On the corner of Front and Sigel Sts., next to I-95 and around the corner from Target, we spotted a new home that’s currently under construction.
The developer, Churchill Investments LLC, purchased the 17’x45′ lot almost a year ago for $45K. Previously, the lot had approvals for a 2000+ sqft, 3 bedroom, 2.5 bathroom house. That seems entirely possible, based on the look of the now-framed house. It will easily be the largest home on the block, one that’s almost exclusively two-story row homes.
This is the continuation of a curious trend we’ve noticed: the construction of new homes on Front St., directly across from the elevated I-95. And some of these new homes are higher end, and selling for over $400K! We get it that Pennsport is a great neighborhood and one that’s definitely becoming even more desirable, but we find it very surprising that the proximity to the highway doesn’t seem to depress demand one bit.
For all the talk about burying I-95 (and we absolutely should, in Center City), the highway doesn’t seem to be causing much of a problem in South Philly. At least from a real estate perspective. Though we would imagine that there are definitely issues that come up in terms of quality of life.
Any thoughts on this, people of Pennsport?