4-unit mixed-use new construction, zoned CMX2.5.
A 4-unit mixed-use building is set to rise at 1602 Ridge Ave in Fairmount & Art Museum, the kind of by-right infill quietly reshaping the block. It was cleared to build in Aug 29, 2023.
The 1,277 sq ft site is zoned CMX2.5, which supports a building on the order of 4 stories by right. The parcel last changed hands in 2026. The plans call for for the erection of a four-story structure of type va construction as per plans. for a vacant commercial space on the ground floor and three dwelling units above. a separate permit will be required for the certificate of occupancy for commercial space. separate permits will be required for all mechanical, electrical, plumbing and fire suppression work. .
The owner of record is Nextreo 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 374 units of new supply — including the 11-unit project at 1630-32 Ridge Ave, the 12-unit project at 1638 Ridge Ave, the 17-unit project at 1633-43 Ridge 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 95 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 95 nearby opportunities →Major (8+ unit) new-construction projects filed within a half-mile since 2022 — the density gathering around this site.