708 Sansom StCleared to build

A 63-unit residential building is set to rise at 708 Sansom St in Old City & Society Hill, a mid-scale addition to one of the city's busier development corridors. It was cleared to build in Dec 1, 2021.

The 9,053 sq ft site is zoned CMX5, which supports a building on the order of 26 stories by right. Records show the parcel last traded in 2023 for $7.5M. The plans call for new construction of a 25 story high-rise structure for use as sixty-three (63) dwelling units with accessory amenity spaces and a shell commercial spaces (separate fit-out permit required prior to occupancy) as per approved plans. work to include installation of foundation shoring and underpinning work to be monitored by pa licensed pe at all times. building to be fully sprinklered per nfpa 13 and include standpipes per nfpa 14. *2018 ibc* **separate permits required for mep & fire suppression work**.

The owner of record is Jr Sansom Partners LLC. The project's plan drawings are on file — worth a look for anyone underwriting the surrounding block.

For now it stands out on its block — there's little other major development within a half-mile, which makes the surrounding under-built parcels worth a closer look as this density arrives.

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?