We have mentioned that the area surrounding Clark Park along Baltimore Avenue in West Philadelphia is one of our favorite areas of the city. Its proximity to Center City combined with the abundance of trees and beautiful Victorian architecture makes this neighborhood one of the most spectacular places in Philadelphia.
Next to Clark Park, a development has been in the works for more than six years. Developers purchased the 46,401 square foot RM-1 zoned lot at 4224-26 Baltimore Avenue in 2008 for $3.5 million. In 2013, permits were issued for a 92 unit building. By 2015, the plan switched to an 8-story, 132 residential unit development with 30 car parking spots and 50 bike spaces with a leasing office and retail on the ground floor. After community pushback, the parking count was upped to 60 and a zoning variance was eventually granted in June of 2015, allowing the development to proceed. The development team received multiple administrative extension permits since then, but no development has happened.
It looks like something may finally be brewing at the site. The developers received new construction permits on May 7th for the erection of a 6-story, 132 unit building with 60 car parking spots, 50 bicycle spaces, a leasing office, and ground floor retail. Note that two floors have been subtracted from the 2015 plan. We do not have any updated renderings or know how this floor count change will affect the look and layout of the building. However, we do expect the developers to proceed with a modern building similar to the old proposal.
This building is definitely going to stick out on the Baltimore Ave. corridor among the Victorian mansions. If this project does finally break ground and gets completed, we can expect to see a lot more hacky sackers and drum circles in Clark Park. Or, maybe we will see an influx of new residents that like to drink rosé and drive BMWs. Who knows? How do you feel about this project? What kind of business would you like to see open in the retail space if it is ever completed?
UPDATE: an updated rendering was sent to us. See below:
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
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