We were in the area yesterday checking out the terrible fire at 2nd & Wharton, and were on our way back across town, and noticed two homes apparently under construction in Queen Village. 919-23 S. 3rd St. includes two buildings and a vacant lot, all of which have been poorly maintained for at least fifteen years.
Back in March, the long-time owner sold the three parcels to 919 S 3rd St LLC for a really low $77,500. Since then, the new owners have been working to improve the existing buildings, while leaving the vacant lot along for the time being. The rehab of the corner property makes us wish they just tore it down and started over.
The home next door looks to be receiving a somewhat more appropriate restoration. We’re guessing both of these homes will be rentals, as the location right across from a large PHA development is not necessarily the easiest in which to sell a new rehab.
On the other hand, with the Salter Mews development directly between the rehabs and the PHA development, along with some newer homes on the 200 block of Montrose Street, perhaps these homes could, in fact, be sold at a reasonable profit. Especially considering the low, low price that the developers paid. As for what they’ll do with the still-vacant lot, it’s anybody’s guess.
Despite the flaws in the rehabbing, near neighbors are surely ecstatic that these long vacant properties are finally being renovated. You’d have to think that the broken window theory could have applied here, and the fixing up of these homes will make the neighborhood safe and better for everybody.