Philadelphia has a legendary boxing history. However, the city’s best known boxer is probably the fictional movie character, Rocky Balboa, played by Sylvester Stallone. You may be wondering what this has to do with real estate development. Well, one of the famous buildings in the Rocky movies is set to be redeveloped.
A zoning permit was issued last week for the renovation of 2145 N. Front Street. This triangular corner building that sits under the El in Kensington is the site of Mighty Mick’s Gym. In the series, the gym was owner by Mickey Goldmill, Rocky’s trainer in the first three movies.
The building will be converted into 4 apartments with a 1,276 square foot ground floor commercial space. Large windows will be installed on the ground level lining the commercial space. The project will also entail adding a roof deck to the structure.
This project is by no means a one off. If you read this blog regularly, you likely know that there are a ton of projects large and small happening under the El in this section of Kensington. From renovations to large new constructions projects, this area of the city is experiencing a huge wave of development.
We usually don’t cover projects this small, but thought it was worth noting because of its relation to the Rocky movies. We’re definitely excited to see this landmark get a new life and look forward to seeing what kind of business opens in the commercial space. We have a feeling it won’t be a boxing gym. Maybe a yoga studio? That seems more appropriate for the neighborhood these days.
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