308 W Chelten AveDelivered

A 49-unit residential building is set to rise at 308 W Chelten Ave in Germantown, a mid-scale addition to one of the city's busier development corridors. It was cleared to build in Mar 23, 2021.

The 13,724 sq ft site is zoned CMX3, 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 complete demolition of existing building and for the erection of an attached building with a roof deck. for the use as multi-family (forty-nine (49) units) household living with accessary parking. building to be fully sprinklered. separate permits requried for m.e.p.s work. separate approval required from pa labor and industry for elevator installation. amendment to change the construction type of entire building to type iiia and add horizontal exits fron 2nd to 5th floors as per approved plans.

The owner of record is Zi 308 W Chelten 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, 1 other major projects have broken ground since 2022 — roughly 49 units of new supply — including the 49-unit project at 328-30 W Queen Ln. 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?