1201 Vine StDelivered

A 120-unit residential building is set to rise at 1201 Vine St in Washington Square & Chinatown, one of the larger new-construction projects underway in Philadelphia this cycle. It was cleared to build in Jul 21, 2021.

The 20,305 sq ft site is zoned CMX4, which supports a building on the order of 8 stories by right. The parcel last changed hands in 2021. The plans call for vertical and horizontal additions (no changes to existing building layout) to create an eight (8) story structure to include one hundred twenty (120) dwelling units and accessory parking as per approved plans. building to utilize horizontal and vertical separations to create three (3) different construction types ( existing 1st through 5th floors & addition 1st through 3rd floors - type ia and addition 4th through 8th floors - type iiia). fire retardant treated studs and sheathing required for type iii construction. building to be fully sprinklered per nfpa 13 and include standpipes per nfpa 14. work to include underpinning to be monitored at all times by a pa licensed pe. fire watch required per code bulletin f-2001. *2018 iebc review* **separate permits required for mep & fire suppression work** amendment approved 8/6/21 amend permit cp-2021-001508 for revised shoring plans and calculations. amendment approved 12/18/21 amend permit cp-2021-001508 to create a rated electrical room and fire pump room in the basement level as per approved plans. amendment approved 11/3/23 amend permit cp-2021-001508 to change floor/ceiling assemblies as per approved plans. amendment approved 12/14/24 amend permit cp-2021-001508 for changes to first floor layout as per approved plans. amendment approved 1/21/25 amend permit cp-2021-001508 to change 3-hour rated horizontal assembly type as per approved plans. amendment approved 3/2/25 amend permit cp-2021-001508 to provide non-combustible stairs in type 1a portion and combustible stairs in type iiia portion as per approved plans. amendment approved 3/29/25 amend permit cp-2021-001508 to include hvac penetration details as per approved plans. amendment approved 12/23/25 amend permit cp-2021-001508 to remove parking area and create shell space as per approved plans. .

The owner of record is Meritis Group 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, 6 other major projects have broken ground since 2022 — roughly 329 units of new supply — including the 31-unit project at 326 N 12th St, the 81-unit project at 225 N 13th St, the 23-unit project at 1314-32 Spring Garden 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?