24-unit residential new construction, zoned I2.
A 24-unit residential building is set to rise at 2740 Federal St in Graduate Hospital & Point Breeze, the kind of by-right infill quietly reshaping the block. It was cleared to build in Apr 14, 2021.
The 4,790 sq ft site is zoned I2, which supports a building on the order of 5 stories by right. The parcel last changed hands in 2021. The plans call for for the erection of one (1) attached structure with cellar and an accessory walk-out roof deck above 4th floor and roof deck with roof access structures (for residential use only), and balcony on front and rear 2nd to 4th floor.for multi-family household living twenty-four (24) dwelling units and four (4) accessory off-street interior parking spaces including 1 ada / van accessible space and twelve (12) class 1a bicycle parking spaces on an accessible route. building to be fully sprinklered. separate approval required for meps work. amendment to create a horizontal exit on 5th floor only as per approved reivsed plans. amendment to the building area due to onsite existing condition and change to the fire rated assemblies as per approved revised plans. amendment to change design professional in responsible charge of special inspections (dprc-si) from geostructures, inc. (jack parisi) to ar engineers. for the following special inspections: 1705.2.1 structural steel 1705.2.2 cold-formed steel deck .
The owner of record is 2738 Federal 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, 3 other major projects have broken ground since 2022 — roughly 74 units of new supply — including the 9-unit project at 2732 Manton St, the 16-unit project at 1111 S 24th St, the 49-unit project at 1348 S 32nd 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 38 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 38 nearby opportunities →Major (8+ unit) new-construction projects filed within a half-mile since 2022 — the density gathering around this site.