Last week, we told you about the 18-unit apartment building rising at 43rd and Ludlow. Across the street from that building, a 278-unit modular construction project is well underway (see our Instagram feed for construction update pictures of this project from the end of September). There are several other new and proposed buildings along this stretch of Chestnut.
Let’s add another to the list. Developers purchased the 12,441 square foot, CMX-4 zoned property at 4219-23 Chestnut St. in April of 2019 for $3.5 million. The existing 2-story building on the site has most recently been used as a dialysis center.
Demolition permits were issued for the building on September 29th. Zoning permits were also issued for the construction of a new building. The development team is proposing an 88-unit project with 16 parking spaces and a roof deck. The zoning permit makes no mention of a commercial space.
We like to see the continued construction of dense residential projects on this stretch of Chestnut St. just 2 blocks from the 41st Street Market-Frankford Line Station. We would have liked to have seen a retail space included on the ground floor in this plan.
No renderings have been made public yet, but we look forward to seeing them along with the site plan. We imagine the parking entrance will be in the back of the building on Ludlow St., where there is already a garage door.
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