28-unit residential new construction, zoned CMX2.5.
A 28-unit residential building is set to rise at 1533 Ridge Ave in Fairmount & Art Museum, the kind of by-right infill quietly reshaping the block. It was cleared to build in Dec 4, 2020.
The 6,328 sq ft site is zoned CMX2.5, which supports a building on the order of 5 stories by right. Records show the parcel last traded in 2020 for $1.4M. The plans call for for the erection of a five (5) story attached structure as per approved plans. for use as vacant commercial and twenty eight (28) dwelling units. structure to be fully sprinklered in accordance with nfpa 13 minimum. **separate permits required for mep and fire suppression work.** **2018 ibc**.
The owner of record is 1533-35 Ridge Qozb 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, 12 other major projects have broken ground since 2022 — roughly 374 units of new supply — including the 11-unit project at 1630-32 Ridge Ave, the 12-unit project at 1638 Ridge Ave, the 17-unit project at 1633-43 Ridge 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?
📄 View the project's plan drawings (PDF)As this density arrives, InvestPHL is tracking 97 under-built parcels within a half-mile that a developer could still acquire and build — each carrying a builder's max bid. Addresses and figures are members-only.
Unlock the 97 nearby opportunities →Major (8+ unit) new-construction projects filed within a half-mile since 2022 — the density gathering around this site.