4-unit residential new construction, zoned CMX1.
A 4-unit residential building is set to rise at 1005 N 40th St in University City & Powelton, the kind of by-right infill quietly reshaping the block. It was cleared to build in Jan 14, 2026.
The 1,544 sq ft site is zoned CMX1, which supports a building on the order of 3 stories by right. The parcel last changed hands in 2026. The plans call for new construction of a three (3) story building with cellar and private roof deck with pilot house for use as four (4) dwelling units as per approved plans. building to be fully sprinklered per nfpa 13. work to include underpinning to be monitored by a pa licensed pe at all times. *2018 ibc review* **separate permits required for mep & fire suppression work**.
The owner of record is 4 Castle 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 192 units of new supply — including the 29-unit project at 3912 W Girard Ave, the 16-unit project at 4000-18 Parkside Ave, the 9-unit project at 871 N Preston 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 81 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 81 nearby opportunities →Major (8+ unit) new-construction projects filed within a half-mile since 2022 — the density gathering around this site.