Back in September of 2021, we told you that developers were planning a 196-unit project along the river on what was then a surface parking lot next to Rivers Casino in Fishtown at 933 North Penn Street. We finally have an update on the project. The development has decreased in unit count by 1 and added commercial space. More exciting, it looks like the project is now moving forward with construction.
As a reminder, the development team is planning a 7-story, 84 foot tall, 187,636 square foot building with 195 residential units, 57 parking spaces, 66 bicycle stalls, a green roof, a roof deck, and a courtyard on the 2nd floor for the residents’ use. The structure’s facade will be made up of brick, hardie plank lip siding, and metal panels.
The most interesting component of the project is what is planned along the river. The city has been working to create a trail along the banks of the Delaware throughout the city. The development team’s plans include landscaping and hardscaping on the river side of the building. The public outdoor space will include seating, tables, paths, a canopy, a dog park, and space for two food trucks to set up shop. It looks like the plans also include a public restroom, which is desperately needed along the trail. It does not look like plans are in place at this time to activate the whole pier, which is part of the property. We’re hoping the city will step in and do something with this space like they have with other piers throughout the city.
When we went by 933 North Penn Street over the weekend, the asphalt parking lot had been ripped up, gravel was being leveled across the site, construction banners were hung, and there was heavy machinery and a porta potty on the site. These are all signs that the project is moving forward, although still in its early stages.
We’re excited to see another surface parking lot eliminated and to see this project rise. We’ve now told you about more than 2,000 units currently under construction along Delaware Avenue between Spring Garden Street and the power plant next to Penn Treaty Park. This area is sure to be energized with a lot more people in the coming years. Now, if only those casino parking lots could be developed and Delaware Avenue could become better activated and pedestrian friendly.
What do you think about this project and all of the development happening along this stretch of Delaware Avenue?
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