Market Insights  /  Bella Vista & Queen Village
Development Watch · Bella Vista & Queen Village

1223-45 Washington AveCleared to build

375-unit residential new construction, zoned CMX5.

DeveloperPost Brothers and Tower InvestmentsArchitectBKV GroupStatusNot yet commenced as of June 2024; construction pending completion of Phase 1 and 2
Rendering of 1223-45 Washington Ave — Permits Issued for 375-Unit Building at 1223-45 Washington Avenue in Hawthorne, South Philadelphia
Permits Issued for 375-Unit Building at 1223-45 Washington Avenue in Hawthorne, South Philadelphia
Rendering of 1223-45 Washington Ave — Post Brothers, Tower Investments Start Construction of $750M Multifamily Project in Philadelphia
Post Brothers, Tower Investments Start Construction of $750M Multifamily Project in Philadelphia
Published renderings · via phillyyimby.com. Shown for informational purposes; rights belong to the original creator.See the source →

A twelve-story building with 375 apartments is cleared to build at 1223-45 Washington Avenue in Bella Vista, marking one of the larger residential projects along the corridor in recent years. The development, held by BW 2 Property Owner LLC since 2021, will rise from a roughly 40,000-square-foot site zoned CMX5, delivering nearly four hundred units alongside vacant ground-floor commercial shells and an accessory parking garage. The structure employs a hybrid construction approach—Type IA from the subterranean levels through the second floor, shifting to Type IB for the upper nine stories—with horizontal separations effectively creating two buildings under one address.

The by-right CMX5 zoning along this stretch of Washington Avenue has long permitted density at this scale, though few parcels have assembled the footprint necessary to deliver projects of this magnitude. The design calls for full sprinklering and standpipes, with underpinning work requiring continuous monitoring by a licensed Pennsylvania engineer, suggesting adjacency to older masonry structures typical of the neighborhood. An amendment approved in mid-2022 swapped the engineer of record and special inspections professional, a routine administrative shift that didn't alter the project's scope.

Within a half-mile radius, roughly 102 new units are either delivered or moving forward across five nearby projects, ranging from modest nine-unit infills to a 45-unit building at 614 South 13th Street. That cumulative figure underscores a wave of smaller-scale development threading through Bella Vista and Queen Village, but the Washington Avenue site stands apart in sheer volume—more than triple the size of its nearest neighbor. The project signals renewed investor confidence in the avenue's long-discussed transformation from auto-dominated thoroughfare to higher-density residential corridor, even as retail activation remains uncertain given the fit-out-required commercial bays.

For nearby landowners holding underused or single-story parcels along Washington Avenue, the BW 2 project offers a clear template: CMX5 entitlements can support substantial density without zoning relief, provided assemblage is achievable and construction financing pencils at current rates. Whether additional sites follow suit will hinge on market absorption once these 375 units deliver, but the groundwork for a denser, taller Washington Avenue spine is now visibly taking shape.

📄 View the project's plan drawings (PDF)
Schematic massing — illustrative of the ~12-story by-right envelope, not the developer's design.
Units
375
Zoning
CMX5
By-right envelope
~12 stories
Lot
40,122 sq ft
Last sale
2021
Cleared to build
Dec 21, 2021
For developers & investors

Underpriced parcels near this project

As this density arrives, InvestPHL is tracking 83 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.

~148buildable units
████████ Street
CMX4 · 0.46 mi away
Max bid to a builder $8.7M · Opportunity Score 100
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~66buildable units
████████ Street
CMX2 · 0.47 mi away
Max bid to a builder $5.0M · Opportunity Score 100
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~104buildable units
████████ Street
CMX2.5 · 0.20 mi away
Max bid to a builder $7.9M · Opportunity Score 100
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~57buildable units
████████ Street
CMX2 · 0.20 mi away
Max bid to a builder $4.3M · Opportunity Score 100
Unlock →
~104buildable units
████████ Street
CMX2.5 · 0.17 mi away
Max bid to a builder $7.8M · Opportunity Score 99
Unlock →
Unlock the 83 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.

10u1116 S 12th St0.08 mi
9u757 S 15th St0.30 mi
13u769-75 S 10th St0.31 mi
45u614 S 13th St0.34 mi
15u825 Bainbridge St0.48 mi
10u713-15 S Mildred St0.48 mi
In the news

What we're hearing about this project

Permits were issued in December 2021 for a 12-story, 375-unit mixed-use development designed by BKV Group with a construction cost of $62 million.
As of June 2024, construction had still not started on the 375-unit project at 1223-45 Washington Avenue.
The larger Broad & Washington project will consist of 1,457 apartments total across multiple phases with construction financing of over $400 million.
News items are compiled automatically and may be approximate — verify before relying on them.
Progress

How this project is moving

In permitting ⚠ Status unclear — no recent activity
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.