Monday, August 13, 2012

Correction: Bowmanville gets new construction house

I passed this sight of a tear down (in-fill construction) at the 2252 W Berwyn in Bowmanville.  The Bowmanville neighborhood is located on the far north of the Lincoln Square community area.
A house and garage is torn down and removed in Bowmanville (photo Eric Rojas)

Photo Eric Rojas
 A "tear-down" permit was issued in July for 2252 W Berwyn according to public records.  It's been a year of new construction single family homes north of West Lawrence Ave.  There has been at least 5 new construction homes built (or being built now) between Damen and Western and Lawrence and Foster.  Now, Bowmnaville located just north of  West Foster Ave is in on the act.

Although there have been many short sale, foreclosure and conventional re-sale single family homes for under $350,000 in Bowmanville over the past couple years, complete tear down new construction is rare.  Typically over the last couple years in Bowmanville, the homes will be renovated rather than torn-down. Tear-down for new construction  is another sign developers, builders and buyers have been back on the north side.

I've long written about the value of Bowmanville for north side single family home buyers.  Earlier this year a large, impressive custom home was built for a corner lot owner at the 1800 block of West Farragut (they purchased the house and lot for tear down).  The home at 2252 W Berwyn may be for speculative retail sale but I have few details.  The last mortgage taken out on the house was $414,000 only a couple years ago according to public records.
(Correction: A reader has suggested the current owner is building a new house after a fire.  This makes more sense as there are no sales records and the previous home was valued too high to tear down and build new).

  More Bowmanville posts here.