Let’s look at the latest and greatest plans for this site, designed by BartonPartners. While the most recent plans have included a curvy facade along Germantown Avenue, the new structure will look a bit boxier, with part of the front of the building brought forward a bit toward the sidewalk. The unit count has been upped to 81 and the parking has been reduced to 11 spots. This roughly 7:1 parking ratio is a pleasant surprise in Mount Airy. We also appreciate that the surface parking spaces, tucked behind the building and accessed off a side curb cut on Gorgas Lane, won’t be visually obtrusive.
Read MoreTierView Principal Jenn Patrino said the four-story building at 6903 and 6915 Germantown Ave. is expected to cost nearly $20 million, which includes $2.5 million the Philadelphia firm paid to acquire the property.
Read MoreAlthough the parcels at 1311-1313, 1317 and 1319-1321 Irving St. are within the Washington Square West Historic District created last year, they are zoned CMX-4, which allows for high-density mixed-use construction.
There are already loose plans for a 20-story residential tower on the site, which would make use of the maximum allowable density across the three properties and a fourth belonging to a family owner.
That family has been “included in the strategy” even though their property at 1315 Irving St. is not up for sale, listing agent Ryan McManus of Agent PHL and Keller Williams Liberty Place told the PBJ. He expects the portfolio to sell for around $4M.
Read MoreSituated between Locust and Spruce streets a block from Broad Street, the parcels for sale are 1311-1313, 1317 and 1319-21 Irving St. A parcel between them at 1315 Irving St. has a family owner. The family is being "included in the strategy," but the 1315 Irving St. parcel is not part of the listing, according to listing agent Ryan McManus with Agent PHL and Keller Williams Liberty Place.
The plan associated with the listing shows the maximum density allowed if all four parcels are combined and developed into a 20-story building while maintaining the historic facade, according to McManus.
Read More"At this point in time, we're encouraging the buyer pool to act now, to build and deliver into '26, '27, '28 when all the units that are delivered right now will be absorbed, and there will be robust demand for new products," McManus said. "Because there always is a demand for new product."
Read More“This presents an opportunity to build a product that’s not necessarily in that submarket right now,” McManus said. “There’s not a mass concentration of new construction apartment buildings being built like there are in some other neighborhoods like Kensington and Fishtown and even parts of University City core.”
Read MoreThe $2.6 million list price equates to about $30,200 per buildable unit.
“[The property] is priced exactly to the market in this current environment,” McManus said. “It’s a turnkey development site, buy and build.”
Approved plans for the property call for balconies, amenity space, a gym and 24 parking spots. Since approvals are already in place, McManus said the land is more valuable.
Read MoreMore construction could be coming to Philadelphia's hotly pursued Northern Liberties neighborhood…“This is really just buy and build,” said Ryan McManus of Agent PHL, the property’s listing agent. “It’s a turnkey development site.”
Read MoreThe new 55-unit project, located between Girard Station and Berks Station on the Market-Frankford Line, will span six floors and have almost 2,600 square feet of ground-floor commercial space. McManus said it is "where everybody wants to live, a marquee location."
Read MoreThe property has been on and off the market since its original listing, but now an undisclosed owner-operator is closing in on buying the space, said listing agent Ryan McManus of Agent PHL. The property spans close to 8,200 square feet and is listed for $2.25 million. McManus said the building is a turnkey restaurant, but also said that its CMX-2.5 zoning designation allows for up to 18 residential units to be built on the site. McManus said the historic designation "throws a wrench" into how potential buyers view the property.
Read MoreExterior work is nearing completion at 1805 North Howard Street, a six-story, 45-unit multi-family building under construction in Fishtown, Kensington. Permits list a project area of 36,802 square feet, Bottos Construction Inc. as the contractor, and a construction cost of $8 million. The project sits very close to 1BRKS, a new development that will bring well over 100 residential units and ample commercial space, and is poised to become a local destination.
Read MoreWhile residential development is happening throughout the city, the most active neighborhoods continue to be Northern Liberties, Fishtown and Kensington, McManus said. One emerging neighborhood where there’s been an uptick in activity is Paradise Hills, which is off Kelly Drive and bound by Allegheny Avenue and Ridge Avenue.
Read MoreAgent PHL powered by Compass is thrilled to announce the sale of 2020 Locust Street, a turnkey investment property in the coveted Rittenhouse Square submarket of Philadelphia. The Building was delivered 100% leased and occupied at the time of sale with 6 apartments and 1 commercial unit.
Read MoreOn South 12th Street next to the historic Camac Baths building, a developer recently received a permit to build a tower with 448 dwellings. On 22nd Street
Read MoreRyan McManus of Agent PHL is marketing 12 townhouses that are under construction. Each is 2,150 square feet with four bedrooms, three full bathrooms, furnished basement and roof deck for Argo Property Group in Brewerytown. Called Brewers Mill, each townhouse started at $425,000 and two properties went under contract at full price. An appraisal came back at $450,000, McManus said.
Read MoreThe more common $80 a square foot that raw land in Kensington sells for is a reflection of the rents apartments are getting and how much houses are trading for, but prices much higher than that aren’t achievable, said Ryan McManus of Agent PHL, a Philadelphia real estate firm involved in transactions in the neighborhood.
Read More“There’s a critical under supply in the $400,000 to $750,000 range at the top for the first-time home buyer and those who want to move up,” said Ryan McManus, a real estate agent with Compass familiar with the Fishtown, Kensington, East Falls and other parts of the city. “Developers are getting cheaper land than they can buy in the core and building there.”
Read MoreInside this early-20th-century shell lives an ultra-stylish modern townhouse that's a vision in black and white.
Read MoreA yeasty mix of established residents and newer arrivals have caused a lot of ferment in this historic North Philly neighborhood.
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