Back in April of 2019, we told you about a 93-unit, mixed-use development that was planned on the northeast corner of 2nd and Cecil B. Moore Avenue in Kensington. A variance for the project was granted by the ZBA in March of 2019 as the property is zoned ICMX, which does not allow residential use by-right.
Plans have shifted slightly since then. The project will now entail a 6-story building with 88 residential units, 2 commercial spaces, 32 underground parking spots, a roof deck, and a fitness center. The building is already well under construction with the foundation and underground parking structure built, the elevator shaft reaching 5-stories tall, and framing underway on the second floor.
We had a chance to tour the project site at 1701 N. 2nd St. and were impressed by the overall size of the commercial components. A 1,900 square foot commercial space will be located at the corner of Palethorp and Cecil B. Moore and a 5,422 square foot commercial space will be located at the corner of 2nd and Cecil B. Moore. Both of the spaces have extremely high ceilings and according to the renderings will have large windows that will provide great visibility from the street and will allow a lot of light to shine into the space. We imagine a cafe or juice bar operating out of the smaller space and a full restaurant or brewery concept opening in the larger space.
We look forward to seeing what types of businesses open up shop in these storefronts and to the residential units leasing up. These new businesses and residents will add eyes to the street and provide another spark of energy to this section of Philadelphia. There are countless other projects that have been recently completed, are underway, or are planned in the direct vicinity of 2nd and Cecil B. Moore. The whole neighborhood is undergoing a vast transformation just like Northern Liberties to the south and Fishtown to the east.
We’ll check back in on this project in a few months for another construction update and will let you know when commercial operators are announced. What type of businesses would you like to see open here?
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