Spring Garden St. on the east side of Broad St. has experienced a ton of development action over the last 5-10 years. New commercial spaces, offices, breweries, residential buildings and restaurants have sprung up along the corridor. The area between 9th St. and 11th St. and the stretch between 5th St. and the river have been the two epicenters of development along Spring Garden.
It looks like the gap between these two hotspots will begin to be bridged by a recent proposal by Arts and Crafts Holdings, the prominent developer in this neck of the woods. Arts and Crafts Holdings is proposing the by-right construction of a 99,114 square foot building on the more than 21,000 square foot CMX-3 parcel at 741 Spring Garden St., which is currently a surface parking lot. The 7-story building will include 146 residential units, 29 parking spots, 72 bike spaces, a roof deck, and a green roof. A 3,361 square foot commercial space will be located on the corner of 8th and Spring Garden. A green space and small dog park will be located along Perth St.
JKRP Architects did the design work for the project. The facade will be constructed of red brick, corrugated metal, steel mesh, and metal panels. Trees will line Perth St. and 8th St. The parking entrance will be located on Green St. The ground floor parking level will be disguised by concrete planters and shrubbery. The garage should go unnoticed from Spring Garden St. with the commercial space and residential lobby taking up the whole frontage on that side of the building.
We think this project is a great step in the continued progression of Spring Garden St. into a mixed-use commercial corridor from Broad St. to the Delaware River. The additional residents that this project will attract will help fuel small businesses in this area. The commercial space should also improve the pedestrian experience along this stretch. Now, if we could just get that Spring Garden Street Greenway project that was proposed in 2013 to move forward…
How do you feel about this project?
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