Want to buy a home in East Kensington? We've got good news and bad news. The good news is that the neighborhood has improved by leaps and bounds and is pretty much better than it's ever been. The bad news is that home prices have gone up as the neighborhood has developed, and projects are happening deeper into the neighborhood, ever closer to Lehigh Avenue. Remember, just a few weeks ago, we told you about the Avenue 30 project, a thirty home development which will have some frontage on Lehigh. Wow.
So it should come as no surprise that we have news about plans for four new homes at 2130 E. Albert St., with two new homes fronting Albert Street and two new homes for Harold Street. Harold Street is a mixed bag to be polite, with one side of the street dominated by a large warehouse that may or may not be in use, and the other side a collection of two-story homes. The proposed homes are planned for the side with the two-story homes, 'natch.
Around the corner on Albert Street, we see a much more attractive streetscape. There are homes on both sides of this block, with a wee bit of new construction already underway, with a new foundation in the ground. In addition, a home recently went up at 2140 E. Albert St. which is among one of the skinnier homes you'll see. Remarkably, this home is already under agreement at an asking price of $350K. Like we said, the neighborhood is getting pricier by the day.
2130 E. Albert St. is currently on the market for $375K, in case you're interested in building a quartet of homes yourself. Barring someone stepping forward to buy the properties, we suspect that the current owners will be moving forward with construction, as they're on the docket to go before the ZBA next month to subdivide the parcel into four lots. If a 12' home on Albert Street is selling at a list price of $350K, what will 14'-wide homes sell for? Close to $400K? Incredibly, this could be about right.