Palmer Park is one of the great small neighborhood parks in Philadelphia. It’s located along Frankford Avenue in the heart of Fishtown’s commercial corridor. The community hosts live music performances, cleanups, and other events at the park to keep it activated and looking its best.
Every time we sit in Palmer Park, though, we wonder why the massive surface parking lot across the street sits undeveloped and unused. It’s a prime development site in a blossoming neighborhood where large parcels are now few and far between. No cars have parked in the lot for years as part of the parking lot has caved in (some construction trucks are temporarily using it currently).
Well, it looks like the parking lot’s days are numbered if they weren’t already. A zoning permit was issued earlier this week for the consolidation of the two parcels that make up the parking lot and for the construction of a 3-story, 44,933 square foot building with 50 residential units, 13,545 square feet of ground floor commercial space, 7 automobile parking spots, and 20 bicycle stalls. The curb cut for the automobile parking area will be located on the back of the building along Blair Street. The project is utilizing the green roof bonus for additional residential density.
There are some notes within city records from another recent plan for the site that mention a 4-story building with 61 residential units. So, we will have to keep an eye on this project for further details as the entitlement process progresses.
We’re extremely excited to see plans in place to develop this massive parking lot on a prime Frankford Avenue corner. The large amount of square footage dedicated to commercial space is one of our favorite parts of the project. This site is located right next to a warehouse that is currently being redeveloped and will soon be the new home to Kalaya, one of our favorite restaurants in the city. With more than 13,000 square feet of commercial space planned within the new building, we’re hoping the development team has plans for another top notch restaurant to move in.
Are you excited to see this parking lot finally get developed? What kind of business would you like to see move into the commercial space?
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