If you’ve been to Northern Liberties recently, you probably noticed the two cranes towering over the neighborhood. Those cranes are for the 1,000+ units and multiple retail spaces that will become Post Brothers’ Piazza Terminal. Just west of that development, hundreds of more units are under construction or in the planning phases along 2nd St. and Germantown Avenue. Post Brothers also recently announced that they will be redeveloping Liberties Walk in 3 phases. That project consists of more than 100 residential units, retail spaces, and offices. The whole area surrounding the Piazza feels like a Center City skyscraper construction site. We really can’t imagine what the neighborhood is going to be like in a few years when all of these buildings are completed and hundreds of new residents move into Northern Liberties.
If all of these projects seem overwhelming, buckle up, as zoning permits for another large project were just pulled today. Post Brothers is proposing the by-right redevelopment of 1021 N Hancock St., the current site of Post Brothers’ offices.
This development will entail a 14-story, 231,650 square foot building with 280 residential units and ground floor retail. No parking is planned on site, but the development team has agreed to provide parking in the garage across the street at 145 W. Wildey St. to satisfy parking requirements in the CMX-3 zoning code. Demolition permits were pulled for the existing building at 1021 N. Hancock St. in September, so it looks like Post Brothers will need to find a new location for their office in the near future.
This project will have to appear before the Civic Design Review (CDR) for non-binding feedback. At that point, we will get more information and more renderings of the project. We are not sure when construction will move forward. With the aggressive pace that Post Brothers is building the Piazza Terminal, we would not be surprised if this new tower breaks ground sooner rather than later.
How do you feel about this project? Do you think Northern Liberties can absorb more than a thousand new units within a couple of blocks of each other? Will all of these new residents help create more successful retail scene in Northern Liberties?
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