If you’ve been by the intersection of North Broad Street and Spring Garden Street recently, you’ve likely noticed the hulking building under construction at the northwest corner on the site of a former surface parking lot. Digging started on the 2-story deep foundation in September of 2020 and the structure started making its way out of the ground in May of 2021. Since then, there’s been swift progress. The more than 535,000 square foot building is now topped out at 7-stories and has been able to rise so quickly because the development team is utilizing modular construction methods.
This development is being called The LVL North. When completed, The LVL North will add 410 apartments to the neighborhood along with 300 underground parking spaces, 47,774 square feet of retail space, and 67,727 square feet of office space. Word on the street is that GIANT Food Stores will occupy the ground floor commercial space at the corner of Broad and Spring Garden.
An earlier plan for this site called for an 18-story office tower and a 144-unit apartment building with ground floor commercial space. Although what is being built today is not nearly as tall or eye-catching as the previous proposal, the current plan has much more residential density. Adding 410 apartments right on top of a subway stop in the core of the city is a huge positive and will help add a ton of energy to this section of Philadelphia.
We’re also excited to see another supermarket added to the North Broad corridor. It wasn’t too long ago that ALDI opened up one subway stop to the north behind the Divine Lorraine. With all of the apartments being built on North Broad between Spring Garden and Girard, we don’t think either of these supermarkets will have trouble staying in business. On that note, we have some more developments on North Broad to tell you about. Stay tuned.
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