5423 Germantown Ave. was originally built in the 1870’s as the Germantown Masonic Hall. The Gothic Revival building was most recently occupied by the Cunningham Piano Company, which used the building as a showroom from the 1970’s through 2016 when the building was sold for redevelopment. Cunningham, founded in 1891 and one of the oldest piano companies in the country, consolidated their showroom into their factory building around the block. The company also has locations in Cherry Hill and King of Prussia.
Philly Office Retail, the developer behind the revitalization of Wayne Junction, was able to get a zoning variance in June of 2018 to convert the RSA-2 zoned property into 16 residential units and 2 commercial spaces. Residential units and retail spaces are definitely a more appropriate use for this building than a single family house. When we were taking pictures of the building last week, light work was happening on site. So, this project seems to be moving forward.
The property is just a short walk down Germantown Ave. from the 50-unit mixed-use proposal we covered that is happening on the corner section of the Settlement Music House’s parking lot and the 352-unit project at the former Germantown High School. These additional residential and commercial units should really boost the foot traffic and energy on Germantown Avenue.
We are extremely happy to see the Masonic Hall get restored and activated. There is nothing we like to see more than a beautiful piece of history come back to life. What kind of business would you like to see open in the commercial spaces? 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