Just last week, we covered a 24-unit building that is under construction on the 2000 block of Dreer Street. Right behind this project, a 14-unit mixed-use project is planned. 17 units are also topped out, but not yet completed, a half of a block south on Front St. This isn’t even the tip of the iceberg for this area, where hundreds of units are planned or under construction. Check out our map page for details about other nearby projects.
Just on the other side of the El from the 14-unit project mentioned above, 39 units are rising between two projects at 2038-54 N. Front St. These projects are definitely related as the same construction company pulled the permits for both projects. The projects could have different ownership structures, but we imagine that there is at least some overlap.
We actually covered one of the buildings, a 17-unit mixed-use project, back in May when it broke ground. Right next to the 17-unit project to the south, a 5-story, 22-unit project with ground floor retail, 26 bicycle parking spaces, and a roof deck is rising. Although it broke ground after its northern counterpart, the 22-unit project is already much farther along than the 17-unit project.
These projects are located 2 blocks north of the Berks El Stop and 3 blocks south of the York-Dauphin Station. Norris Square Park is around the corner and all of the restaurants and shops in Fishtown are a short walk from the buildings. Five years ago, it would be extremely rare to see a market-rate new construction project in this neck of the woods. Now, the location is prime and continuing to improve. The allure of Kensington and transit-oriented development is materializing before our eyes.
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