Wharton Square Park should be a gem in Point Breeze, a block sized green space on the western side of the neighborhood. You'd think that the homes surrounding the park on 23rd, 24th, Wharton, and Reed Streets would be among the most sought after in the neighborhood, but we'd say we've probably seen less development on the blocks facing the park than we've seen on many other seemingly inferior blocks in the neighborhood. We don't have a great explanation for this. But there has been plenty of development on blocks near the park, and it seems likely that development will eventually push onto the streets surrounding the park. For example, two homes now under construction on the 2200 block of Reed Street could drive additional attention to the area.
Developers purchased 2240 and 2242 Reed St. over the last couple years and they're now building a pair of homes on these formerly vacant lots. The parcels are zoned for multi-family use and the developers could build duplexes, like the project we recently reported on Oakford Street. Maybe the developers are opting for three story homes instead of four story duplexes because just about every existing home on this block is only two-stories tall. Or maybe they just want to sell homes and not condos.
Though these properties sit to the west of Point Breeze Avenue, their proximity to Wharton Square Park should be a major selling point. Perhaps it will require a major project, like the proposed mixed-use development at 24th & Wharton, to really create a push for development around the park. Alternately, a major renovation effort like we saw a few years back at Dickinson Square Park could have a dramatic impact. In the meantime, if you believe the blocks surrounding the park will indeed become more desirable in the coming years, perhaps you can find yourself a deal right now.