1439 Federal StDelivered

A 43-unit residential building is set to rise at 1439 Federal St in Graduate Hospital & Point Breeze, a mid-scale addition to one of the city's busier development corridors. It was cleared to build in Apr 15, 2021.

The site is zoned CMX2, which supports a building on the order of 4 stories by right. The parcel last changed hands in 2020. The plans call for amendment 3: for the amendment of previously approved permit cp-2020-006186 to document nfpa 13 system for commercial space and nfpa 13r system for a residential occupancy. work to include changes to basement and first floor level as shown per approved plans. if field conditions vary contact design engineer prior to the start of any work. amendment 2: for the amendment of previously approved permit cp-2020-006186 to document change in special inspection agency. all work to be done per approved documentation. amendment 1: for the amendment of previously approved permit cp-2020-006186 to document change in foundation and for the installation of an exterior stair from the basement level. all work to be done per approved plans. if field conditions vary contact design engineer prior to the start of any work. separate permits to be obtained for all other work. original: for the erection of a four story attached structure for use as a vacant commercial space on the ground floor in same building as 42 dwelling units (multifamily household living) with 14 accessory interior class 1a bicycle parking spaces. structure to contain a green roof accessed by pilot houses for maintenance access only. 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 11 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.*** ***fire watch is required once combustible construction is over 40 feet in height, a site safety plan shall be submited to building inspector prior to the start of any construction.*** separate permiits to be obtained for all other work.

The owner of record is 149 Federal St 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?