We last covered the property at 1351-59 Frankford Ave. back in May noting that development was on the horizon as foundation construction permits had been pulled. Check out that post for some background information on past proposals for the parcel. The lot runs from Frankford Ave. to Crease St. and includes the area where Greendrop has operated their donation trailer as well as the parking area for Zipcar to the north.
We now have more clarity on what will be built on the property. At the end of October, zoning permits were pulled for a 5-story structure with ground floor retail, office uses on floors 2 through 5, fourteen car parking spots, and 36 bicycle spaces. We’ve heard through the grapevine that the building will have 50,000 square feet of office space, but that has not been confirmed.
Permits were pulled on February 4th for the demolition of two semi-detached warehouse structures on the property. We believe these to be the garages fronting Crease St. Just recently, Greendrop sent out an email stating that they will be ending operations at the site on February 29th.
It looks like development will finally move forward on this lot. We look forward to this gap along the heart of Fishtown’s commercial corridor being filled in. It will also be great to have more daytime pedestrian activity in Fishtown. We’re sure that the cafes and lunch spots in the neighborhood will be happy to have more customers at off-peak hours.
We’re not sure if an office tenant has been secured for the location, if this will be marketed as co-working space, or if this is being built on spec. Let us know if you have any inside information about this development.
UPDATE: A construction sign is now on the site and the new construction permit calling for dwelling units from August 2019 (older than the office permits) is now posted on the fence:
FOR THE ERECTION OF A FIVE (5) STORY STRUCTURE OF TYPE IIA CONSTRUCTION WITH A VACANT COMMERCIAL SPACE ON THE FIRST FLOOR AND DWELLING UNITS ABOVE. SEPARATE CERTIFICATE OF OCCUPANCY REQUIRED FOR THE FIRST FLOOR. SEPARATE PERMITS REQUIRED FOR ALL MECHANICAL, ELECTRICAL, PLUMBING AND FIRE SUPPRESSION WORK. SEE PERMIT 969493 FOR FOUNDATION AND WATER DEPARTMENT APPROVAL.
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