We’ve seen multiple parking lots in Old City developed recently and heard about plans to develop others. It looks like there’s another significant project in the works.
Developers are planning to demolish a 3-story building at 211-213 Vine Street that has a surface parking lot in its rear. In its place, a 6-story, 61,694 square foot buildings with 46 residential units and 18 parking spaces will be constructed. A zoning permit was issued for the project last week.
The building’s facade will be made up of red brick, cement board panels, and cast stone. The Vine Street frontage of the building will be primarily wrapped in brick whereas the upper floors along American Street will be clad in black cement panels. We would have preferred brick to replace the cement panels. We really like the large windows, which are reminiscent of some of the old factories on the surrounding blocks. The garage parking entrance will be located on American Street and a majority of the parking spots will be underground.
The project also includes two more parcels. The development team will preserve the building at 209 Vine Street and turn it into a 3-unit building. The back of that structure, which has been “heavily modified,” will be demolished. Two stacked townhouses will be constructed at 207-09 Vine Street, which is currently a surface parking lot with a curb cut on Vine Street.
We’re often sad to see old buildings get demolished. However, this seems like a great project and will add residential density to an extremely desirable part of the city. We’re also excited to see another surface parking lot eliminated from the neighborhood and for a curb cut to be removed from Vine Street.
How do you feel about this project? Do you think it will improve the neighborhood, or are you sad to see the old building get demolished?
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