Germantown has been seeing a ton of development over the last few years and there are some large projects in the works that have yet to break ground. Although removed from Center City, this section of Philadelphia, known for its tree lined streets and beautiful architecture, has not been missed by the most recent wave of development.
It looks like another significant project is coming down the pipeline. Developers are planning a 5-story, 48,816 square foot building with 57 residential units and a green roof on the 14,800 square foot RM-1 parcel at 401-07 E. Walnut Lane. The project will include no automobile parking and can proceed by-right. The development team is scheduled to appear before the Civic Design Review (CDR) for non-binding feedback on September 14th.
The site is currently a vacant lot that is bounded on its sides by two and three story homes and a 4-story, 34-unit apartment building on its rear. The facade will be constructed of black, grey, and white fiber cement panels as well as red brick and white vinyl siding. A stone wall will be erected to separate the new building from the residential driveway next door.
It’s nice to see a vacant lot turned into homes for more than 57 people. This building will be located a half mile walk to the Washington Lane regional rail station. So, we imagine some of the new residents will commute into Center City for work via rail or will take the train into town for shopping and pleasure.
How do you feel about this project?
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