1222 N 2nd StDelivered

A 64-unit residential building is set to rise at 1222 N 2nd St in Fishtown, a mid-scale addition to one of the city's busier development corridors. It was cleared to build in Dec 31, 2020.

The 24,375 sq ft site is zoned RM1, which supports a building on the order of 5 stories by right. Records show the parcel last traded in 2024 for $22M. The plans call for amendment 3 (2/14/2023): for change to architect-of-record with new architectural and structural plan sets, new special inspections forms, and documentation of artist studio units being classified as group b and not to be rented out as dwelling units as per owner's memo. amendment 2: for the amendment of the previously approved permit: cp-2020-004663 to document change from pre-cast concrete to cast in place concrete with no change in special inspection agency and modifications to foundation system. all work to be done per approved plans. if field conditions vary amendment 1: for the amendment of the previously approved permit: cp-2020-004663 to document changes in foundation as shown per approved plans. size and location as shown per application/plan. original: for the erection of an attached five story structure for the use as accessory parking, with seven (7) artist studios and artisian industrial on the first floor and the reconfiguration of ground floor vacant commercial spaces to uses as permitted in cmx-2 (use registration permit required prior to occupancy) with the use of a multi-family dwelling (sixty four (64)) units on second thru sixth floors and with bicycle spaces on an accessible route and one off street loading space. structure to contain a roof deck accessed by roof deck access structures. size and location as shown in the application / plans. building is fully sprinklered in accordance with nfpa 13 and standpipes to be provided in the exit stairways per nfpa 14. all work to be done per approved plans. if field conditions vary contact design engineer prior to the start of any work. **a covered walkway or sidewalk closure shall be required within 16 feet of the building facade in accordance with section 3306 of the 2018 ibc. separate building and/or streets department permit required prior to the start of any work.** separate permiits to be obtained for all other work.

The owner of record is 1222 Associates 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 977 units of new supply — including the 166-unit project at 310 W Girard Ave, the 84-unit project at 130 W Girard Ave, the 84-unit project at 130 W Girard 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?