Penn Home at 1401 E. Susquehanna Avenue in Fishtown opened in 1848 and provided shelter for women older than 59 years of age until it closed in September of 2020. The abrupt closing caused concerns across the community about what would become of the property and its structures dating from 1769 to the 1950s. Shortly after closing, the property was added to the Philadelphia Register of Historic Places after being nominated by The Keeping Society of Philadelphia, thus protecting the buildings from future demolition.
Now, more than a year after Penn Home closed its doors, we have a better idea of what will become of the property. Zoning permits were recently issued to turn the complex into 45 residential dwelling units as well as space for a sit down restaurant. The permit mentions that at least some of the units will be eligible for use as visitor accommodations or short term stays.
Although we were sad to see Penn Home close and hope that all residents found a new place to live, this looks like an awesome project and we are happy to see the historic structures preserved and refreshed. We are eager to see where the restaurant space will be located on the property and to see how the existing courtyard will be utilized. It will be good to see a spark of energy injected into this section of Fishtown.
How do you feel about this project? What kind of restaurant would you like to see open up here?
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