4-unit residential new construction, zoned RM1.
A 4-unit residential building is set to rise at 2247-49 N Reese St in Fairhill, the kind of by-right infill quietly reshaping the block. It was cleared to build in Apr 18, 2025.
The 2,046 sq ft site is zoned RM1, which supports a building on the order of 3 stories by right. The parcel last changed hands in 2024. The plans call for for the erection of an attached 3-story structure with two (2) roof access structures for access to occupiable roof decks. structure for use as multi-family household living four (4) dwelling units. the building is fully sprinklered in accordance with nfpa 13. all work to be done per approved plans. if field conditions vary contact design engineer prior to the start of any work. separate permiits to be obtained for all other 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. **excavation permit required** **2-3-2026 amendment: updated excavation; compliant change in building height. dprc+si and special inspection agency changes as per the approved amended construction documents. excavation permit documents updated - see sp-2025-000177** .
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.