Large vacant lots in the 19125 zip code have almost all disappeared over the last decade-long development wave. Still, there is an undersupply of housing in the area, which has become one of the most popular places in Philadelphia to live.
There is one notable large lot that has continued to sit vacant as the neighborhood around it has been developed. That may change in the near future. The roughly 38,000 square foot, auto-oriented commercial (CA-2) zoned triangular parcel at 2507 Almond Street across from Greensgrow Farms in Olde Richmond is being eyed for development.
A 6-story, nearly 155,000 square foot building with 155 residential units, 65 automobile parking spots, 60 bicycle stalls, a green roof, and a roof deck is being proposed for the vacant lot at Almond and Sergeant Streets. The proposed building has an interesting massing with a facade made up of red brick, Hardie Plank lap siding, and standing seam metal siding. The proposal includes a landscaped area mid-building along Almond Street as well as a sitting area on the north end of the site on Almond Street. The parking garage entrance and exit would be located on the south side of the building on Almond Street.
Renderings have been released for the project in anticipation of its hearing with the Civic Design Review on June 7th. The development team will also have to appear before the Zoning Board of Adjustment (ZBA) on August 3rd as this project cannot proceed by-right and will need a variance.
This project seems like a great use for a vacant lot on the edge of the neighborhood that backs up to a strip mall. We’re hoping if this project is successful, it will motivate the owners of the storage site across the street and some of the auto-oriented sites along Aramingo Avenue to redevelop their properties and supply more housing to an area of the city that is experiencing rising rents and increasing home prices.
How do you feel about this project? Do you want to see this parcel get developed? Would you like to see some of the strip malls along this section of Aramingo Avenue redeveloped into mixed-use buildings?
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