It was almost two years ago that we first told you about Ingersoll Commons, a ten home affordable housing development from Community Ventures on the 1600 block of Master Street. Since we shared this news, there's been no action at this massive vacant lot that's surrounded on all sides by a student housing construction boom. And Temple University. But earlier this summer, when we showed you a new hole in the ground nearby, we mentioned that an official groundbreaking had taken place and that construction should be starting soon. Soon is apparently now.
The ten homes will appear behind the fence you see pictured above. Between the homes and 16th Street, a new park is planned. According to Philly.com, we'll be seeing 3 bedroom, 2.5 bathroom homes with basements. KSK Architects did the design work, and we poached this rendering from the Community Ventures website. Prices start at $140K per home.
The Philly.com story also mentions that the project will cost $4.4M total. From what we can tell, the park costs are either coming in at $400K or aren't included in those figures at all. According to the Redevelopment Authority minutes from May of this year, the anticipated development costs per unit on this project are just over $400K. That's roughly twice the cost of construction for a private developer. So while these units will be incredibly affordable for the people who ultimately purchase them, they'll be anything but on the construction side. Kind of incredible when you think about it.