We have mentioned that the area around the Berks El stop is on fire. Blocks that were previously neglected are being renovated and infilled. Developers are opening their eyes to the fact that residents want to live near public transit, even if it is near the roaring train line. We recently brought you the 95 unit mixed-use building under development at Norris and Front St. Less than a block north from this project, another project just broke ground.
Developers acquired the lots at 2046-54 N. Front St. and proceeded to consolidate them in April of 2018. In the beginning of April of this year, they received new construction permits for the erection of a 5-story building with ground floor commercial space, 17 residential units, a roof deck, and 26 bike parking spaces. This nearly 5,000 square foot CMX-2.5 zoned lot allows for dense mixed-use development. We are actually surprised to see only 17 units built here.
The project at Front and Diamond streets recently broke ground. Heavy machinery is on site and a large hole is in the process of being dug. There are a ton of other multi-family and mixed-use developments happening in the immediate vicinity of 2046-54 N. Front St. in Norris Square, Kensington, and Fishtown. As you travel north on Front St. from this project, you will also observe smaller renovations and new builds. The gaps between the Berks St. Station and the York-Dauphin St. El stop are being filled in. We are curious to see what types of retail tenants will occupy the new storefronts and we look forward to seeing the revitalization of this transit-connected commercial corridor. What businesses do you hope will join the neighborhood?
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