Almost 2 years ago, we told you about an adaptive reuse project called the Gotham Tower at 2000 N. 2nd St. in Norris Square. This 100+ unit redevelopment, which includes 2 retail spaces, is now nearing completion and looks fantastic. We had the opportunity to tour the site a few months ago and it looks just as nice from the inside as it does from the outside.
Gotham Tower is a shining example of what is happening in this section of Philadelphia. Several other small, medium, and large sized projects dot the surrounding blocks of Norris Square and Kensington as a whole.
One such development is just north of Gotham Tower. Work is already underway at 2045-49 N. 2nd St. where old warehouse once stood, but was recently demolished after trading hands last August. We walked through that building about 4 years ago, and it was a mess. The floors and roof were already caved in back then. It would have been a cool building to save, but was neglected for so long that it likely made preservation nearly impossible.
Building permits were issued on December 16th for the construction of a 4-story, 18-unit building with ground floor retail space at 2045 N. 2nd St. It looks like preliminary site work is already underway at the property.
We haven’t seen renderings for the project yet, but we look forward to seeing more homes for people and a new retail space built on the block. What type of business would you like to see open here? We imagine it may be something that caters to all of the new people living nearby.
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