We don’t get down to cover projects too often in Point Breeze, but as many of you know, this is an area that has experienced a wave of development over the last decade. Single family homes have been built throughout the neighborhood while larger multifamily and mixed-use projects have been fewer and farther between. Point Breeze Avenue, a commercial corridor that runs diagonally through the neighborhood, has seen some revitalization, but still has a ways to go. Many vacant lots and blighted buildings continue to line the avenue, especially on its southern end.
It looks like one of those vacant lots could be built upon in the near future. Developers are proposing the by-right construction of a 4-story, 45 foot tall structure with 69 residential units and 20 bicycle spaces on the 17,601 square foot RM-1 zoned parcel at 1622-40 Point Breeze Ave. You may remember an attempt in 2015 to turn this lot into a beer garden.
The development team will be utilizing a mixed income bonus to achieve additional height and residential density. The building will have a green roof and roof deck. The facade will be made up of red brick, composite metal, corrugated metal, cast stone, and vinyl.
The development team is aiming to break off part of the parcel for future development. The plans show that they intend to subdivide corner of the lot at Point Breeze Ave and Fernon St. Hopefully, they seek a variance to include a commercial use on the ground floor of whatever they build on that corner.
Although we would have liked to have seen ground floor commercial space included in this project, the development is by-right and we appreciate the residential density here. This stretch of Point Breeze Ave. is primarily zoned residential outside of some corner properties. Hopefully, the additional residents that this development brings to the neighborhood will help fuel existing businesses and lead to more new businesses opening along Point Breeze Ave.
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