Market Insights  /  Fishtown & East Kensington
Development Watch · Fishtown & East Kensington

2456 Frankford AveDelivered

16-unit residential new construction, zoned CMX2.

A four-story, 16-unit residential building with ground-floor commercial space has delivered at 2456 Frankford Avenue in Fishtown, adding another mid-sized multifamily project to the Avenue's ongoing transformation. The structure, cleared to build in May 2023 and developed by Martha Frankford LLC, rises from a roughly 5,240-square-foot lot in a CMX2 zone that permits this density by right. The building's 16 apartments occupy the basement through fourth floor, while a single vacant storefront on the first level awaits a separate tenant fit-out—a setup that mirrors the mixed-use formula increasingly common along Frankford Avenue's commercial spine.

The scope involved underpinning work and a semi-detached design, with six Class 1A bicycle parking spaces on an accessible route and full NFPA 13 sprinkler coverage. The CMX2 zoning here allows for straightforward multifamily development without requiring variances, making parcels like this attractive to smaller developers willing to navigate Fishtown's steady but measured construction pipeline. The project underwent amendments to address partition details, structural tweaks, and revised egress wells—typical refinements for a project of this scale threading the needle between older rowhouse neighbors and new construction.

This delivery slots into a broader wave of mid-size residential development within a half-mile radius, where roughly 515 units have either delivered or are underway across projects like the 108-unit complex at 2000-20 E Hagert Street, a 60-unit building at 2221 N Front Street, and a 22-unit project at 2406 Frankford Avenue. The concentration suggests continued developer confidence in Fishtown's rental demand, even as the neighborhood'sAvenue frontage fills in incrementally rather than in large sweeps. Martha Frankford LLC's approach—moderate unit counts, mixed-use ground floors, by-right zoning—reflects a repeatable playbook for similar-sized lots along the corridor.

The completion of 2456 Frankford reinforces the appetite for as-of-right multifamily plays on underutilized commercial parcels in the neighborhood, particularly those large enough to accommodate elevator buildings but small enough to avoid the financing and approval complexities of larger projects. With CMX2 zoning prevalent along Frankford Avenue and comparable lots still scattered between larger developments, this project offers a template for what additional infill might look like as the Avenue continues to densify without losing its human-scale rhythm.

📄 View the project's plan drawings (PDF)
Schematic massing — illustrative of the ~4-story by-right envelope, not the developer's design.
Units
16
Zoning
CMX2
By-right envelope
~4 stories
Lot
5,240 sq ft
Cleared to build
May 4, 2023
For developers & investors

Underpriced parcels near this project

As this density arrives, InvestPHL is tracking 85 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.

~170buildable units
████████ Street
ICMX · 0.44 mi away
Max bid to a builder $7.5M · Opportunity Score 99
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~223buildable units
████████ Street
ICMX · 0.45 mi away
Max bid to a builder $9.7M · Opportunity Score 99
Unlock →
~131buildable units
████████ Street
ICMX · 0.48 mi away
Max bid to a builder $5.6M · Opportunity Score 99
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~259buildable units
████████ Street
ICMX · 0.43 mi away
Max bid to a builder $11M · Opportunity Score 99
Unlock →
~102buildable units
████████ Street
CMX2 · 0.46 mi away
Max bid to a builder $4.4M · Opportunity Score 98
Unlock →
Unlock the 85 nearby opportunities →
The block

What else is rising nearby

Major (8+ unit) new-construction projects filed within a half-mile since 2022 — the density gathering around this site.

22u2406 Frankford Ave0.09 mi
108u2000-20 E Hagert St0.18 mi
26u2626 Trenton Ave0.27 mi
60u2221 N Front St0.30 mi
14u2214 N Front St0.33 mi
41u2654-64 Coral St0.33 mi
31u2112 N Front St0.35 mi
8u2034 N Front St0.37 mi
Progress

How this project is moving

Cleared for occupancy ~100% complete
Estimated from the construction permit sequence — an approximation of stage, not a precise schedule.
Every logged milestone appears here — highlighted ones are the headline stages; the rest track interim construction activity. Checked daily.
Compiled by InvestPHL. Unit counts, scope, and ownership are as recorded and subject to revision; the massing figure is a schematic illustration of the by-right envelope, not the developer's design or a marketing rendering. Verify zoning, status, and title with counsel before acting. InvestPHL does not list, market, or represent any property, buyer, or seller.