Fishtown has gotten to the point that developable single family lots are not easy to come by anymore. Developers now need to get creative in order to find places to build new houses. There were never a ton of vacant lots in the neighborhood, but the last decade’s development boom have made them even more rare.
Developers purchased the 963 square foot triangular corner lot at 2521 E. Dauphin St. in 2016. The lot was was the long-time side yard of the house next door and was paved with cement until about a week ago. We have seen houses built on smaller lots in the past, but the shape of this lot makes it a more difficult plot to develop. The new owners took the parcel through the zoning process in early 2017, seeking to build a 4-story single family house with a roof deck. It looks like their final plans were approved in March of 2018. Zoning / Use permits and new construction permits were issued on July 11th of this year.
The development team wasted no time and has already broken ground. The basement is nearly dug out and the foundation should follow soon. Elevation drawings show an external spiral staircase from the third floor to the roof deck. It is also interesting to see that the front door of the house is on Belgrade St. and not on Dauphin St. We imagine the shape of the parcel caused that placement.
You do not see many 4-story houses in Fishtown. It will definitely look tall compared to its neighbors, but should be nicer than a vacant lot. We are interested in seeing how the layout of the house feels when it is completed and how much the house sells for. We imagine the views from the roof deck will be pretty cool. What price do you think the house will be listed at?
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