309 W Mount Pleasant AveUnder construction

A 66-unit residential building is set to rise at 309 W Mount Pleasant Ave in Mount Airy, a mid-scale addition to one of the city's busier development corridors. It was cleared to build in Apr 9, 2026.

The 18,423 sq ft site is zoned CMX2, which supports a building on the order of 5 stories by right. The parcel last changed hands in 2025. The plans call for new construction of a five (5) story building with cellar, roof deck and pilot houses for use as ground floor shell commercial spaces (use registration & fit-out permits required prior to occupancy), sixty-six (66) dwelling units and accessory parking as per approved plans. building to be fully sprinklered per nfpa 13 and include standpipes per nfpa 14. building utilizes green roof and mixed income housing bonus. fire-retardant treated wood studs and sheathing required in exterior walls for type iii construction. fire watch required per department code bulletin f-2001. *2018 ibc review* **separate permits required for mep & fire suppression work** amendment approved 6/20/26 amend new construction permit cp-2025-000230 to remove basement level and relocate utilities to ground floor level as per approved plans. .

The owner of record is Hp Mount Pleasant Realty 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, 1 other major projects have broken ground since 2022 — roughly 76 units of new supply — including the 76-unit project at 20 W Allens Ln. 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?