It’s somehow been over two weeks since we’ve mentioned the Spring Arts/West Poplar/Spring Garden neighborhood (call it whatever you wanna call it, we give up), and that just seems wrong, considering how much development is going on over there these days. As you may recall, we wrote about some new homes under construction on the 1200 block of Mount Vernon St. back in September. Today, we direct your attention to the 1200 block of Wallace St., one block to the north. Currently, at 1212 Wallace St., Xiaolin Zhang is starting to rebuild a recently demoed house.
Zhang purchased the property for $110K from long-time owner Alfred Miles, who also owns the white home pictured above and the two vacant lots to the west of Zhang’s property. Miles had been listing all four properties for sale earlier this year, but seems to have taken the others off the market for the time being. Perhaps he’s waiting for Zhang to build and sell 1212, which we assume will be a single family home, and then relist his remaining properties at a premium. Or maybe he sees the long term potential of the neighborhood and will be holding out for even higher prices in the next few years.
Only time will tell. We’ll certainly keep an eye on this spot in the coming months.