Last week, a reader email tipped us off about ongoing demolition at the corner of Cleveland & Tasker. We made our way over there the other day and watched on for a couple of minutes as a crew continued their demolition work, likely started a week or so back.
As you can see, the building had been taken down to half of its first story as of last week. We would guess that even more has come down in the days since. The building looks like it was in poor condition prior to demolition, and this idea is reinforced by the fact that there was a violation on the property for a partially collapsed wall. It was purchased by YD Real Estate Development Inc back in September for $27K. The only permits that have been pulled to this point are for demolition, so we can only speculate on what's to come here.
So let's speculate, shall we? We would guess that the developers will soon be applying for permits to build a three story house on this corner which will be sold at market rate. There are not many buildable corners to be found in Point Breeze these days, and we would guess that the developers will be attempting to take advantage of a strong market and a short supply of homes. The lot will allow for a by-right build, which is welcome in any neighborhood, especially here. True, it's a few blocks south of most of the development in the neighborhood but if the tide continues to roll south, whoever buys this theoretical house that will likely be listed at a lower price than most of the other new construction in the neighborhood will have some really good value on their hands.
Of course, we don't have confirmation for any of this. It's all speculation.
We'll be sure to clue you in when they start framing.