As mentioned many times previously, we are seeing significant development happen across multiple outlying neighborhoods in Philadelphia. From far south and west Philly to the northeast and northwest, new apartments buildings now dot the landscape of these areas. Developers and investors are bettering on the trend of re-urbanization persisting and on Philadelphia’s population continuing to increase.
Today, we bring you to 1950 E. Logan Street, a 99,750 square foot, RM-1 zoned parcel on the border of the Logan and East Germantown neighborhoods. The property currently holds a 1-story warehouse and a bunch of vacant land. It seems like that will change in the near future.
Developers are planning on building a 3-story building with 111 residential units, 42 automobile parking spots, and 45 bicycle stalls on the property. The parking spaces will be located on a large surface lot with a curb cit on East Logan Street. The building will be situated on the corner of 20th Street and Logan Street with a landscaped courtyard and entrance off of 20th Street. We imagine that the development will attract students from La Salle University and others that need to take the Broad Street Line into Center City for work. Both La Salle and the Logan BSL Station are about 1/2 mile from the development site.
It’s great to see a blighted parcel turned into homes for more than 100 people. However, we will note that this parcel can accommodated 208 units by-right without bonuses. We hope if this project is successful, the owners build a second phase on the property.
How do you feel about this project? Would you like to see more apartments built here in the future?
Kyle is a commercial real estate agent at Rittenhouse Realty Advisors, a homeowner, and a real estate investor in Philadelphia. Kyle uses his extensive Philadelphia real estate market knowledge to help his clients buy and sell multifamily investment properties, development opportunities, and industrial sites.
Email Kyle@RittenhouseRealty.com if you are looking to buy or sell a property