Last week, we told you that the 470-unit Festival Pier redevelopment and a 466-unit project right across the street on the site of a former Greyhound bus terminal were both under construction. That’s 936 homes getting built right on the same block. Well, these are not the only massive projects under construction on this strip.
Less than a block north of the old Greyhound site, another huge development is underway at 918 Delaware Avenue. We originally told you about this project back in June of 2020 when it was still in its planning phase.
As a reminder, the project will entail five 7-story residential and mixed-use buildings along with a 1-story amenities building for the residents of the community. In total, the project will include 462 residential units, more than 25,000 square feet of commercial space, 145 automobile parking spots, and 196 bicycle stalls.
- Building A: 78 residential units, 2 commercial spaces
- Building B: 108 residential units, 2 commercial spaces
- Building C: 84 residential units, 1 commercial spaces
- Building D: 72 residential units, 1 commercial spaces
- Building E: 120 residential units
- Building F: personal services accessory to the residential units
Currently, it looks like 3 of the 7-story buildings are under construction – buildings B, C, and D. We’re hoping that work on the other structures will begin in the coming months.
We’re happy to see that some commercial spaces will be located along the cobbles on Canal Street on the Frankford Avenue side of the project near the Fillmore complex. However, much of the rest of Canal Street will be fronted by blank walls and surface parking spots. We would have liked to have seen more emphasis put on making Canal Street a pedestrian commercial corridor. Overall, though, this project looks great and will bring a ton of energy to the area. We’re very happy to see if moving forward and are excited to see it fill up with people and businesses.
With this project, the Festival Pier redevelopment, and the Greyhound bus terminal project, there are going to be 1,398 new residential units added along Delaware Avenue between Spring Garden Street and Frankford Avenue. That means thousands of people will be moving along this strip in the coming years.
How do you feel about the project? What kind of businesses would you like to see open in the commercial spaces? How do you feel about nearly 1,400 units being under construction in this section of Philadelphia?
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