Today’s post was written by Houwzer Real Estate Agent Chad Eason, who lives in Brewerytown with his wife and children.
Brewerytown is getting a lot of love these days.
This past March, Philly Mag described Brewerytown as a place for first time home buyers, saying it is “in the midst of a renaissance, with a slew of rehabbed properties and new building projects drawing interested buyers.” The vibe in Brewerytown even had Philly Mag later referring to it as “the new Fishtown (there, we said it).”
Gauging the latest development in the area, it’s likely that Philly Mag isn’t off in its projection. Specifically if you look at the latest sales in the northwest quadrant:
- Community School – located at the corner of Glenwood and Oxford, this new school is slated to be ready for the 2017 school year. It has been in the works for a while now and has hinted around construction starting later this summer/fall. It will most likely be the first completed project of the three.
- Red Bell Brewery – this was purchased earlier this spring and, most promising, already has scaffolding around it. Once this 200,000-square-foot building is brought back to life, expect a dramatic change in the area.
- Pyramid Electric building – built in 1922 and vacant since 2000, this building was purchased for $1.4 million. Pyramid Electric was the final major shell for Brewerytown and it’s purchase signaled a new era for the neighborhood.
These three major projects are driving Brewerytown’s progress in a big way.
How? Brewerytown still has many vacant properties and lots, all of which will see a huge uptick in investment. Most of the development has been pocketed on the southwest side of the neighborhood where the Aldi and new Wine and Spirits store opened up. Since then, The Fairmount at Brewerytown has opened along with two projects from the Westrum development team. However, this is old news now and the new projects further North will clearly define and stabilize the development in Brewerytown.
When these three projects are completed, they will anchor the neighborhood and attract businesses to the surging commercial corridor on W Girard Ave. With more customers to frequent the shops on Girard, commercial opportunities will be bolstered. With more people, more developers and more home buyers will look to join a growing neighborhood. With greater stability and more single family home developments means home values would continue to rise and maybe at a quicker pace pending what type of construction is getting done (new construction or a complete rehab).
Brewerytown has pieced together a wheel. Pyramid electric being purchased is the final piece to getting the hub of the wheel in place. Now other developers and home buyers can add their own spokes, strengthening wheel.
Here’s to Brewerytown really starting to roll!
