40 E Armat StDelivered

A 47-unit residential building is set to rise at 40 E Armat St in Germantown, a mid-scale addition to one of the city's busier development corridors. It was cleared to build in Dec 3, 2021.

The 16,136 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 2022. The plans call for for the erection of a semi-detached structure with a roof deck (for residential only) at the fourth story level; to use as one (1) vacant commercial space (use registration required prior to occupancy) at the first floor and multi-family (forty-seven (47) dwelling units) household living above. building to be fully sprinklered. separate permits required for m.e.p and fp work. separate approval required from pa l&i for elevator installation.

The owner of record is Kenyon Lofts 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, 5 other major projects have broken ground since 2022 — roughly 166 units of new supply — including the 33-unit project at 26-34 Church Ln, the 32-unit project at 184 E Chelten Ave, the 46-unit project at 5322 Germantown 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?