The intersection of North 2nd St. and Cecil B. Moore Avenue in Olde Kensington is about to see major changes. There are multiple projects that are underway or in the pipeline in the immediate vicinity. The largest of these projects is on the site of a warehouse that has been occupied by The Resource Exchange and The Mid Century Furniture Warehouse. Both of the businesses have moved out of their spaces as demolition is on the horizon.
Developers received demolition and new construction permits on April 16th. They can now pursue the construction of their planned 93 residential units, 2 commercial storefronts, 34 parking spots, and 31 bike spaces at 1701-17 N. 2nd St. The initial application for the project only included 23 parking spots, but we suspect that nearby neighbors requested more. In our opinion, a location so close to the Berks Street Station could succeed without on-site parking. It looks like there will be curb cuts for parking access on N. 2nd St. and N. Palethorp St.
Although we would have liked to see an overbuild on top of the existing warehouse, we are happy with the density that this project is bringing close the the train line. The increased amount of people living in this area will help fuel local businesses in Kensington, Fishtown, and Northern Liberties. Having two more commercial locations at the intersection should also help activate the street. What kinds of tenants would you like to see open up shop 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