63-unit residential new construction, zoned CMX4.
A 63-unit residential building is set to rise at 4201 Chestnut St in University City & Powelton, a mid-scale addition to one of the city's busier development corridors. It was cleared to build in Dec 22, 2021.
The 8,213 sq ft site is zoned CMX4, which supports a building on the order of 7 stories by right. The parcel last changed hands in 2023. The plans call for new construction of a seven (7) story structure with common roof deck and pilot houses for use as shell commercial spaces (use registration & fit-out permits required prior to occupancy) and sixty-three (63) dwelling units as per approved plans. building to utilize horizontal separations to create two (2) separate buildings with two (2) different construction types (cellar, 1st & 2nd floors - type ia and 3rd through 7th 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. fire watch required per code bulletin f-2001. *2018 ibc review* **separate permits required for mep & fire suppression work** amendment approved 8/4/24 amend new construction permit cp-2021-005547 for changes to building layouts and egress arrangement to include horizontal exit and removal of basement level as per approved plans. .
The owner of record is 4201 Chestnut Aquisition 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, 8 other major projects have broken ground since 2022 — roughly 313 units of new supply — including the 12-unit project at 4245 Sansom St, the 95-unit project at 4050 Ludlow St, the 8-unit project at 4401 Holden 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?
📄 View the project's plan drawings (PDF)As this density arrives, InvestPHL is tracking 104 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 104 nearby opportunities →Major (8+ unit) new-construction projects filed within a half-mile since 2022 — the density gathering around this site.