Back in January, the Philadelphia Warehousing and Cold Storage Company building at 500 N. Christopher Columbus Blvd. was designated to the Philadelphia Register of Historic Places after being nominated by The Keeping Society of Philadelphia. The parcel that the historic structure sits on is much larger than the footprint of the warehouse itself and it looks like the owners of the property plan on building on a non-historic section of the parcel.
In February, demolition permits were issued for the one and two story buildings at Beach St. and Spring Garden St. To our knowledge, this part of the property was last used as a pizza shop around 10 years ago. Demolition permits are currently posted on the buildings.
In place of the these structures and the surface parking lot to their west, the owners are planning on building a 7-story structure with 62 residential units and 3,800 square feet of ground floor commercial space with 10 total parking spaces (3 new spaces plus the 7 existing spaces) and a roof deck.
No renderings are available to date for the new construction project. However, we look forward to seeing how the new building will interact with the existing structures on the property.
Speaking of the existing structures, permits were issued in December for adding exterior wall openings and infills. As this permit predates the historic designation, we are not sure if that work can proceed or not. There is no word on what the historic sections of the property will be used for in the future.
Have you heard of any rumors about what the historic building will be turned into or have you seen renderings of the new construction building? If so, let us know!
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
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