A couple months back, we visitied the 2200 block of Coral Street, noting the appearance of a new home at 2231 Coral St. and foundations for two more next door. The homes, collectively from developers Luval Inc., were of particular interest because of their slenderness. The typical Philly row home is 16' wide, but these were a mere 12' from side to side. The difference is significant.
We were back on the block the other day and spied some progress. The foundations have been framed out. And the home that had been framed out now has a facade and stucco on the side. All three are currently available for sale, with prices ranging from $310K to $330K. Check out the progress:
The vacant lot next door, which we told you will eventually turn into four more skinny homes, remains vacant at this time. We wonder whether those developers are waiting for the project next door to finish before they bring more supply to the area or whether something else is holding up the project.
There are other developers, meanwhile, that aren't waiting. V&B Properties purchased 2216 Coral St. earlier this summer and are working on the foundation for another 12'-wide single family home. As for the vacant lot next to that property, it actually consists of several parcels owned by different parties. So while the vacancy across the street shouldn't stick around for too much longer, the vacancy next door could hang on for some time. Still, you have to admit, the area is improving dramatically in a very short time frame.