4-unit residential new construction, zoned RM1.
A 4-unit residential building is set to rise at 639 N 40th St in University City & Powelton, the kind of by-right infill quietly reshaping the block. It was cleared to build in Jan 11, 2023.
The 1,764 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 2021 for $130K. The plans call for for the erection of an attached, three-story structure of type vb construction as per plans. for four (4) dwelling units with layout as shown. .
The owner of record is Nk99 Investments 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 240 units of new supply — including the 10-unit project at 644-46 N 40th St, the 8-unit project at 657 N Preston St, the 14-unit project at 3932-36 Mount Vernon 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?
📄 View the project's plan drawings (PDF)As this density arrives, InvestPHL is tracking 70 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 70 nearby opportunities →Major (8+ unit) new-construction projects filed within a half-mile since 2022 — the density gathering around this site.