Quick Hits: Leyland Post in Old Five Points

Quick hits are posts about development news as I hear about them! If you have feedback on the format, please share in the comments below!

Leyland Post

Neighborhood:
Old Five Points

Size:
22,500 square feet

Purchase Price:
$132,500

Estimated Cost:
Unknown

Expected Completion Date:
Unknown

Details:
12 Units, All 2 Bed/2 Bath, priced between $545,000 and $589,000

Developer:
Headwall Development

Located at 106 and 108 Broadway, this is another smaller development to hit the Old Five Points neighborhood. Old Five Points is starting to feel a little like the next Central Park area: consistent growth over time with high-end buildings. However, the construction is on a much smaller scale (see Mangum Flats).

I have always thought that Old Five Points was an interesting part of the city. I would love to see this growth continue with interesting businesses in those old, historic-looking storefronts. It could be a really cool, additional, walkable neighborhood.

I am sure people will be up in arms about development at these high price points, but an article that I tweeted recently frames density as a good thing, even the higher-end buildings. The more wealthy people that are moving into high-end condos, the fewer there are to purchase and renovate existing supply for those with less money.

That said, a mix of old and new is important. I would be sad if those old storefronts were demolished as they add great character to the area.