The 4200 block of Chestnut Street and surrounding area is booming with new construction with several more proposals in the pipeline. We told you about the 278-unit project replacing the Christ Memorial Reformed Episcopal Church at 43rd and Chestnut St. back in 2019. That project is now nearing completion. A 102-unit, mixed-use project is planned across the street at 4240 Chestnut. That development has yet to break ground. An 18-unit building is nearing completion just north of Chestnut St. on 43rd St. A 141-unit project opened up within the last 18 months or so at 4125 Chestnut St. Another 88-unit project is planned at 4219 Chestnut St.
Right next to the 88-unit proposal, zoning permits were just issued for a 7-story, 75 foot tall building with 100 residential units, an automated parking garage in the basement, 2 elevators, and a roof deck on the 3 parcels at 4205-13 Chestnut Street. Currently, the parcels hold a stately building that was most recently a small grocery store and restaurant, a vacant lot used for automobile and dumpster storage, and a 1-story building that was also previously a small grocery store and restaurant. Combined, these properties add up to more than 10,000 square feet of land, all with CMX-4 zoning.
There are currently no renderings available and no indication that the project will include ground floor retail space. How do you feel about this project and all of the development happening in this section of West Philadelphia?
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