635 N 5th StDelivered

A 16-unit residential building is set to rise at 635 N 5th St in Northern Liberties, the kind of by-right infill quietly reshaping the block. It was cleared to build in Dec 30, 2021.

The 4,318 sq ft site is zoned ICMX, which supports a building on the order of 4 stories by right. The parcel last changed hands in 2023. The plans call for for the erection of an attached structure with cellar and roof access stair and pv array / solar support structure above roof. for vacant commercial spaces on first floor (uses as permitted in icmx, use registration and fit-out permits are required prior to occupancy) and for multi-family household living sixteen (16) dwelling units, and accessory off street interior parking five (5) spaces including one (1) accessible spaces (including van accessible space) and six (6) class 1a bicycle parking spaces on an accessible route. building to be fully sprinklered. separate permits required for mep & fp work. amendment to remove the solar array from the project. amendment to change the dprc-si.

The owner of record is 635fairmountventure 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, 5 other major projects have broken ground since 2022 — roughly 311 units of new supply — including the 55-unit project at 828-40 N 2nd St, the 74-unit project at 502 Wood St, the 10-unit project at 1139-41 N 3rd 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?