3539 N 16th StUnder construction

A 8-unit residential building is set to rise at 3539 N 16th St in Nicetown & Tioga, the kind of by-right infill quietly reshaping the block. It was cleared to build in Dec 23, 2021.

The 2,817 sq ft site is zoned RSA5, which supports a building on the order of 4 stories by right. Records show the parcel last traded in 2021 for $200K. The plans call for for the erection of a semi-detached structure with a pilothouse for mech access only. structure for use as multi-family household living. sprinklered through per nfpa 13. separate permits required for plumbing, mechanical, electrical and fire suppression. a covered walkway or sidewalk closure shall be required within 10 feet of building facade in accordance with section 3306 of the ibc. separate building and/or streets department permits are required. 10/5/2023 amendment: amend original permit with new owner, and reduction to the building height/number of story.

The owner of record is Residences At N 16th Two 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, 5 other major projects have broken ground since 2022 — roughly 150 units of new supply — including the 30-unit project at 3725-37 Pulaski Ave, the 43-unit project at 3249 N 16th St, the 10-unit project at 1903 W Erie Ave. 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?