42-unit residential new construction, zoned RM1.
A 42-unit residential building is set to rise at 881 N 40th 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 17, 2021.
The 7,731 sq ft site is zoned RM1, which supports a building on the order of 6 stories by right. The parcel last changed hands in 2022. The plans call for for the erection of a six (6) story structure with roof deck and roof deck access structure; for a multi-family household living( 42 dwelling units) with fourteen(14) 1a class bicycle spaces in an accessible route. entire building to be sprinklered per nfpa 13 and equipped with standpipes per nfpa 14. separate permit required for mep and fire suppression work. type a and type b dwelling units required. amendment: add trash chute in trash room. no structural changes. amendment: amended plans to reflect field changes basement and roof deck is only for mechanical access. .
The owner of record is 879 N 40 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 196 units of new supply — including the 9-unit project at 865 N 40th St, the 9-unit project at 871 N Preston St, the 9-unit project at 871 N Preston 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 94 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 94 nearby opportunities →Major (8+ unit) new-construction projects filed within a half-mile since 2022 — the density gathering around this site.