The area surrounding Germantown Avenue and Cecil B. Moore Avenue is undergoing an incredible renaissance. The Riverwards Group built and sold out a 57-unit mixed-use development on the southwest corner of 5th and Cecil B. Moore. A new brewery/restaurant (Human Robot Brewery / Poe’s Sandwich Joint) and another bar/restaurant (Sutton’s) opened just north of Cecil B. Moore on 5th St. A really cool dog park was constructed at the intersection of Germantown Avenue and 5th St. The gigantic parcel that was the long time home of Honor Foods traded hands for more than $11 million. On top of all of these transformations, two large projects are under construction. We’ll cover the smaller of the two today.
Back in October of 2019, the 14,772 square foot CMX-2 lot at 330 Cecil B. Moore Avenue traded hands for $1.88 million with plans and approvals in place for a mixed-use building.
Construction is now well underway on the 4-story, 42-unit building which will have 2 commercial spaces, a roof deck, and a 1,500 square foot interior courtyard. The retail spaces seem to be located at the corners of the building at 4th and Cecil B. Moore and at Germantown and Cecil B. Moore. This building is replacing a long vacant lot.
We really appreciate the residential density and commercial spaces that this development is brining to South Kensington. As this and some other large projects around here move forward and fill up, this area is going to feel a lot different. There will be hundreds of new residents living in the neighborhood which will add energy to the streets and will be a spark for local businesses. We’re hopeful that some quality commercial tenants can open up shop in this building and in some of the other commercial spaces that are planned nearby.
How do you feel about this project? What kind of businesses would you like to see move into the retail spaces?
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