50-unit residential new construction, zoned RM1.
A 50-unit residential building is set to rise at 404 Fountain St in Roxborough, a mid-scale addition to one of the city's busier development corridors. It was cleared to build in Nov 1, 2021.
The 20,341 sq ft site is zoned RM1, which supports a building on the order of 4 stories by right. Records show the parcel last traded in 2021 for $2.0M. The plans call for for the erection of a detached structure on the same lot with an existing multi-family dwelling (detached from the proposed structure); to use as a multi-family (fifty (50) units) household. building to be fully sprinklered. separate permits required for m.e.p.s work. separate approval required from pa l&i for elevator installation.
The owner of record is 404 Fountain 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, 5 other major projects have broken ground since 2022 — roughly 254 units of new supply — including the 15-unit project at 6712 Ridge Ave, the 80-unit project at 6808 Ridge Ave, the 38-unit project at 4550 Mitchell 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?
📄 View the project's plan drawings (PDF)As this density arrives, InvestPHL is tracking 29 under-built parcels within a half-mile that a developer could still acquire and build — each carrying a builder's max bid. Addresses and figures are members-only.
Unlock the 29 nearby opportunities →Major (8+ unit) new-construction projects filed within a half-mile since 2022 — the density gathering around this site.