In March, we told you that a large vacant lot on the corner of Broad & Fitzwater, across the street from 777 South Broad, would soon be redeveloped. The plan was for the construction of eight new homes, representing the third phase of the wildly successful Artisan Homes project. The homes were even listed for sale, pre-construction, starting at $1.6M per home.
But somewhere along the line, it seems that this plan fell through. Recently, a sign appeared on this property, advertising that it's back on the market, available for sale.
The lot certainly represents an excellent development opportunity. According to the listing, it's about a quarter of an acre in size. As you would surely agree, the location is prime. The zoning for the property allows for some decent height and far more density than we would have seen with eight homes. On the sign (and in the listing) is a possible rendering for the site, thought we're pretty sure that it would require some zoning variances in order to build it.
It's no secret that South Broad Street is heading in a distinctly positive direction. Southstar Lofts at Broad & South is heading toward the home stretch. Last month, we heard the official announcement of a new luxury apartment and hotel building coming to Broad & Spruce. Could this lot be yet another parcel on South Broad for Mr. Dranoff to snatch up and develop? Could another developer do something like the image above? Do you think you're that developer? Then by all means, buy that sucker today! For a mere $6M, it could be yours!
Well, what are you waiting for?!?!