If you’ve lived in the Riverwards for more than a few years and tend to stay informed about real estate development in this section of Philadelphia, you likely remember the huge development proposed back in 2018 on the 100,000 square foot, IRMX-zoned lot at 2201 East Somerset Street in Port Richmond. Developers received a variance in 2018 to construct a project with a series of single family homes, duplexes, and a mixed-use building. The ZBA granted the development team a variance back then for not including as much commercial space in the project as was required by-right.
Shortly after the variance was granted, a lowrise warehouse that stood on the site was demolished. After that, there wasn’t any action at the property for years … until recently. If you drive by the site today, you’ll see foundations poured and timber framed five stories high on some sections of the site.
Taking a step back, the project entails a 5-story building with 60 residential units, 4,600 square feet of commercial space, 4,200 square feet of industrial space, 34 underground parking spaces, and a roof deck on the Trenton Avenue side of the property. The plan also calls for 35 duplexes (70 units) and 23 single family homes. It looks like the single family homes and at least some of the duplexes will be listed for sale as a few units are already active on the MLS. In total, there are 124 parking spaces included.
If you look closely at the aerial photos of the construction site, you’ll see that foundations have been poured for the single family homes and 26 of the duplexes (52 units). Work has yet to begin on the duplexes on the Somerset side of the property and the 60-unit building.
We’re really happy to see this project move forward and for this section of the neighborhood to get a jolt of energy. Although we were sad to see the old warehouse get demolished years ago, 153 new homes at this location is definitely better than a vacant lot. On that note, a lot more than 153 homes will be added to this section of Port Richmond in the near future. We’ve told you about several other large projects on the surrounding blocks. We’ll be updating you soon about some of them, so be sure to tune in for more info. Before you know it, this area is going to look way different.
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