You may have noticed that the lowrise triangular building on the northwest corner of Ridge Ave. and Spring Garden St. is no longer a bank and has been sporting some cool art on its facade over the last year or so. When the signs for Citizens Bank were removed from the building shortly before the art went up, we knew that development was likely on the horizon.
We now have more information about what will happen on the site. Arts + Crafts Holdings plans to build a 6-story building with ground floor commercial space, 46 residential units, 13 parking spaces, and a roof deck on the 10,713 square foot, CMX-3 zoned site at 1201 Spring Garden Street.
Coscia Moos did the design work for the project, taking inspiration from the site’s history. The project includes a clock tower at the point of the triangle to pay homage to the banks that have occupied the property for the last 100+ years. The building’s facade will primarily be composed of dark grey brick with large windows wrapping the commercial space. The parking entrance will be located on the northeast side of the building on Ridge Avenue.
Building permits were issued for this project in December and zoning permits for the existing building’s demolition were issued in May. So, we expect that this project will move forward in the near future.
We’re happy to see residential density added along the Spring Garden commercial corridor so close to the Broad Street Line. We imagine that nearby businesses such as La Chinesca, the newly opened restaurant at 11th and Spring Garden, will appreciate the new residents moving into the neighborhood as well.
How do you feel about this project? What kind of business would you like to see open in the commercial space?
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