940 N Delaware AveDelivered

A 108-unit residential building is set to rise at 940 N Delaware Ave in Northern Liberties, one of the larger new-construction projects underway in Philadelphia this cycle. It was cleared to build in Feb 16, 2021.

The 32,219 sq ft site is zoned CMX3, which supports a building on the order of 7 stories by right. The parcel last changed hands in 2022. The plans call for new construction of a seven (7) story structure (building 'b') to include vacant commercial spaces (use registration & fit-out permits required prior to occupancy), one hundred eight (108) dwelling units and accessory parking garage as per approved plans. building to utilize horizontal separations to create two (2) separate buildings with two (2) different construction types (1st & 2nd floors - type ia and 3rd through 7th floors - type iiia). fire retardant treated studs and sheathing required for type iii construction. building located within the zone ae sfha and to include manual floodproofing with emergency operations plan. elevation certificate required to be submitted to field inspector upon completion of first floor. building to be fully sprinklered per nfpa 13 and include standpipes per nfpa 14. fire watch required per code bulletin f-2001. *2018 ibc* **separate permits required for mep & fire suppression work** amendment approved 9/2/23 amend new construction permit cp-2020-005725 for changes to building layout as per approved plans and change of special inspections agency per revised documentation. .

The owner of record is Gy Poplar B Development LP. 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, 10 other major projects have broken ground since 2022 — roughly 785 units of new supply — including the 78-unit project at 1000-10 N Delaware Ave, the 55-unit project at 828-40 N 2nd St, the 107-unit project at 1122 Frankford 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?