The Beury Building is a hulking Art Deco structure standing at the intersection of Germantown Ave. and Broad St. in North Philadelphia. The building, constructed in 1926, was originally the home of The National Bank of North Philadelphia. More recently, it has gained notoriety for the graffiti adorning its north and south sides, which reads “Boner 4 Ever” and “Forever Boner” respectively.
Civically-minded development company, Shift Capital, purchased the Beury building in 2012 and also owns the plot of land to the north. Shift Capital has plans to turn the Beury Building into a hotel in the near future. However, plans for the lot to the north have recently evolved and have been released in anticipation of the project’s presentation before the Civic Design Review (CDR).
Shift Capital is planning on building a 6-story, 102,438 square foot building on the 38,522 square foot CMX-3 site. The by-right project will include 114 residential units on the top 5 floors, 13,741 square feet of commercial space on the ground floor, and 44 parking spaces located behind the building. A rooftop terrace will be located above the commercial space, overlooking Broad St. Design work was completed by DIGSAU.
50 of the 114 residential units will be reserved for individuals making 60% or less of the Area Median Income (AMI). This is an aspect of the project that cannot be overlooked and is reflective of Shift Capital’s core values and mission as they look to invest in communities rather than replacing them.
As for the infamous graffiti, it does not appear anywhere in the project renderings. We’ll have to wait and see as plans for the Beury Building itself are released, but it looks like graffiti will not in fact last forever. Even if Shift plans on preserving the graffiti, the new development will at least cover a large portion of the text on the northern side.
We’re extremely excited to see this underutilized piece of land transformed into homes for people and businesses. Hopefully, the restoration of the Beury Building itself is on the horizon as well.
How do you feel about this project?
UPDATE – Zoning permits were issued for this project on 2/11/21:
This Application is for the relocation of lot lines to create (1) lot from (3) existing lots (3705 N Broad Street – OPA #871200350, 3707 N Broad Street – OPA #885513320 and 3705-25 N Broad Street – OPA #882364600. Also, for the use of Multi-family (114 units) (88,687 sf), Commercial use (all other permitted uses) (3,694 sf), Commercial use (office, hospital, public, civic and institutional, visitor accommodation, or residential use) (10,057 sf) and Surface parking 45 spaces and 39 bicycle parking spaces, as per plans.
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