4023 Haverford AveUnder construction

A 7-unit residential building is set to rise at 4023 Haverford Ave in University City & Powelton, the kind of by-right infill quietly reshaping the block. It was cleared to build in Sep 22, 2022.

The 3,114 sq ft site is zoned RM1, which supports a building on the order of 4 stories by right. Records show the parcel last traded in 2022 for $326K. The plans call for for the erection of a four (4) story attached va building with a basement for the use as multi-family ( 7 units) household living. building to be fully sprinklered in accordance with nfpa 13 and standpipes to be provided in the exit stairways per nfpa 14. if field conditions vary contact design engineer prior to the start of any work. all work to be done per approved plans. if field conditions vary contact design engineer prior to the start of any work. **a covered walkway or sidewalk closure shall be required within 9 feet of the building facade in accordance with section 3306 of the 2018 ibc. separate building and/or streets department permit required prior to the start of any work. .

The owner of record is H & M Developments LLC. The project's plan drawings are on file — worth a look for anyone underwriting the surrounding block.

It isn't rising in isolation. Within a half-mile, 12 other major projects have broken ground since 2022 — roughly 321 units of new supply — including the 8-unit project at 657 N Preston St, the 10-unit project at 644-46 N 40th St, the 9-unit project at 675 N 41st St. That kind of concentration is exactly what pulls land values, and buyer attention, toward a block.

We'll update this page as the project progresses — leasing, retail tenants, renderings, and construction milestones as they surface. The relevant question for investors and agents: what are the surrounding parcels worth to a builder now that this is coming?