Another day, another mansion project. Just yesterday, we showed you renderings of the four homes planned on 3rd Street, next to the historic Salvation Army building in Society Hill. Today we turn our attention to Fitler Square, where developers have purchased 235 S. 24th St., a building that housed Penn Lighting before their move to Callowhill. According to a story in the Inquirer, they're planning to build some big new homes in this extremely desirable location.
The project, dubbed the Fitler Nine, will mean the construction of nine homes on this 15K sqft site, with each home having between 5,000 and and 5,800 sqft of living space. The homes will be built in two rows, with some fronting and other backing up to a courtyard. Underneath the courtyard, the plans call for a parking garage with space for 18 cars. To date, five of the nine homes are already under agreement before a shovel has even gotten in the ground, with prices ranging up to $3.5M. Holy smokes. QB3 Architects are doing the design work, and the Inquirer story includes a photo of a scale model rather than the usual rendering you'd expect.
This project is on the very tippy top of the price range that we've seen for new construction single family homes but it makes sense to us that people are willing to pay those prices at this location. After all, the waterfront and the Schuylkill River Trail are just around the corner and… yeah we probably don't need to sell anyone on the attractiveness of the Fitler Square neighborhood. Perhaps the most interesting thing about the Inquirer story was that all of the buyers thus far already live in Center City, running counter to our intuition that many of the high-end buyers are coming in from the suburbs. We wonder, just how many more projects of this ilk can we support?