North Broad Street continues to see increased interest from developers and commercial operators. Multiple projects have been completed along the thoroughfare in recent years, hundreds of units are currently under construction, and hundreds more are planned. The tide is certainly rising for North Broad Street. If you’re a developer looking for a 60+ unit development opportunity along this stretch, reach out.
It looks like another significant project that should drastically improve the pedestrian experience on North Broad Street is in the pipeline. Zoning permits were issued on November 4th for the demolition of the gas station building at 813-23 N. Broad St. and the construction of a 50-unit building with 12 underground car parking spots, 30 bicycle spaces, and a roof deck. There is no mention of a commercial space in the zoning permit. However, we imagine that a commercial space will be included in the building as this parcel is zoned CMX-4 and no variances have been granted to eliminate the requirement for commercial space.
When we went by the site, the gas station seemed to already be permanently closed. We think 50 homes for people is a much better use for this centrally located, transit-accessible site than a refueling station for automobiles. We look forward to seeing this project progress.
How do you feel about the plan?
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