5013 Springfield AveDelivered

A 65-unit residential building is set to rise at 5013 Springfield Ave in Kingsessing & Cedar Park, a mid-scale addition to one of the city's busier development corridors. It was cleared to build in Mar 3, 2020.

The 38,929 sq ft site is zoned CMX2, which supports a building on the order of 5 stories by right. The parcel last changed hands in 2017. The plans call for original: for the erection of a five (5) story above grade plane mixed-use structure. this building is to consist of two construction types: type ia throughout the parking structure and commercial space from the basement through 1st floor and type va construction throughout the residential occupancy (sixty five (65) units with four (4) type a units and the remainder to be type b units) from the 2nd through 5th floors. separate permit required for fit-out of fresh food market at 1st floor and basement. building to be fully sprinklered throughout with a nfpa 13 system. all work to be done per plans and 2018 ibc. separate permits required for mechanical, electrical, plumbing, and fire suppression work. separate permit required by pa l&i for elevator installation. protection of pedestrians, public right-of-way, and adjacent properties to be in place prior to start of work and maintained at all times. [amendment approved 6/3/2021 for changes to designated approved special inspections agencies and for architectural and structural changes to include removal of the basement level, reconfiguration of the 1st floor, and to reinforce a retaining wall at the property line abutting an adjacent railroad right-of-way.] [2nd amendment approved 9/3/2021 for a new exterior exit door at the 2nd story rear (level of exit discharge) to qualify for exemption from elevator standby power requirements per 2018 ibc sections 1009.2.1 and 1009.4. approved changes also include reconfigured trash chute access rooms and removal of railings at a non-occupiable roof.] [3rd amendment approved 10/24/2022 for structural changes only as per approved amendment plans.] [4th amendment approved 9/18/2024 for the relocation of the 2nd accessible means of egress serving the 1st floor commercial tenant space (fresh food market).].

The owner of record is Springfield Avenue Holdin. 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 27 units of new supply — including the 12-unit project at 4820 Chester Ave, the 15-unit project at 5222 Chester 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?