About 2 weeks ago, we told you about a 42-unit, mixed-use building that is under construction at 4th and Cecil B. Moore Avenue and mentioned that a bigger project is also rising nearby.
Avenue V is currently under construction between Germantown Avenue and 5th Street on Cecil B. Moore Avenue. The Riverwards Group is leading this project which will entail 169,295 square feet of buildings with 147 residential units, 4 commercial spaces totaling 6,500 square feet, 49 car parking spaces, 49 bicycle stalls, green roofs, roof decks, and 2 courtyards. The project will include a collection of connected quadplexes, triplexes, and larger mixed-use buildings. Three of the commercial spaces will be located along 5th Street and one will be located at Germantown Avenue and Cecil B. Moore Avenue.
This site was previously the home to a pallet company. The sale of the 79,915 square foot lot was brokered by Agent PHL and traded hands in 2018.
Construction is already well underway with the structure on Cecil B. Moore Ave. nearly topped out along the full width of the block. Take a walk by this intersection and it already feels so much different than it did a couple of years ago. The transformation from an industrial area to a mixed-use residential neighborhood is evident. When these two projects are completed and filled with people and businesses, there is going to a whole different level of energy in this area. It will be interesting to see how the modern architecture blends with the beautiful old converted warehouses to the north. We’re optimistic and look forward to seeing this area continue to evolve.
How do you feel about this project and the continued transformation of this part of Kensington?
UPDATE: New Renderings are now available for the 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