1537-39 Ridge AveDelivered

A 8-unit residential building is set to rise at 1537-39 Ridge Ave in Fairmount & Art Museum, the kind of by-right infill quietly reshaping the block. It was cleared to build in Dec 20, 2019.

The 2,187 sq ft site is zoned CMX2.5, which supports a building on the order of 4 stories by right. Records show the parcel last traded in 2019 for $500K. The plans call for for the erection of a four (4) story semi-detached structure for use as vacant commercial space on the first floor and basement, multi family (8 units) household living from first to forth floor. all work to be done per approved plans. building to be sprinklered per nfpa 13 system. if field conditions vary contact design engineer prior to the start of any work. separate permits to be obtained for all other work. a covered walkway or sidewalk closure shall be required within 9.5 feet of the building façade in accordance with section 3306 of the 2018 ibc. separate building and/or streets department permit required prior to the start of any work.***2018 ibc*** shoring will be performed along the front facade wall and the south-eastern property line. shoring according to figure 3 in geotech report.

The owner of record is Ridge Rams 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, 12 other major projects have broken ground since 2022 — roughly 374 units of new supply — including the 11-unit project at 1630-32 Ridge Ave, the 12-unit project at 1638 Ridge Ave, the 17-unit project at 1633-43 Ridge Ave. 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?