1205-07 S 15th StDelivered

A 17-unit residential building is set to rise at 1205-07 S 15th St in Graduate Hospital & Point Breeze, the kind of by-right infill quietly reshaping the block. It was cleared to build in Dec 23, 2021.

The 6,052 sq ft site is zoned CMX2, which supports a building on the order of 4 stories by right. Records show the parcel last traded in 2021 for $1.2M. The plans call for new construction of a four (4) story building with private roof decks and pilot houses for use as a shell commercial space (use registration & fit-out permits required prior to occupancy) and sixteen (16) dwelling units as per approved plans. building to be fully sprinklered per nfpa 13 and include standpipes per nfpa 14. work to include underpinning to be monitored by a pa licensed pe at all times. fire watch required per code bulletin f-2001. *2018 ibc review* **separate permits required for mep & fire suppression work**.

The owner of record is Wharton Street Development 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, 2 other major projects have broken ground since 2022 — roughly 19 units of new supply — including the 10-unit project at 1116 S 12th St, the 9-unit project at 757 S 15th 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?