4-unit residential new construction, zoned RM1.
A 4-unit residential building is set to rise at 2248 N 5th St in Fairhill, the kind of by-right infill quietly reshaping the block. It was cleared to build in Jun 22, 2025.
The 1,241 sq ft site is zoned RM1, which supports a building on the order of 3 stories by right. Records show the parcel last traded in 2024 for $150K. The plans call for new construction of a three (3) story, four (4) family dwelling with roof deck and roof deck access structure to include underpinning as per approved plans. building to be fully sprinklered per nfpa 13. separate permits required for mep & fire suppression work. *2018 ibc review* *amendment 3/9/2026 to reduce foundation depth thus eliminating need for separate excavation permit, impacts to adjacent properties, and any underpinning. building height change.*.
The owner of record is Ycy314 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 243 units of new supply — including the 9-unit project at 2300-10 Germantown Ave, the 9-unit project at 2300-10 Germantown Ave, the 8-unit project at 2059 Germantown 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?
📄 View the project's plan drawings (PDF)As this density arrives, InvestPHL is tracking 189 under-built parcels within a half-mile that a developer could still acquire and build — each carrying a builder's max bid. Addresses and figures are members-only.
Unlock the 189 nearby opportunities →Major (8+ unit) new-construction projects filed within a half-mile since 2022 — the density gathering around this site.