22-unit residential new construction, zoned CMX2.
A four-story mixed-use building containing 22 apartments and ground-floor commercial space has wrapped at 2406 Frankford Avenue in Fishtown. The project, owned by 2406 Frankford LLC, was cleared to build in early 2023 and recently delivered after several layout and structural tweaks along the way, including a December amendment that converted utility space into storage. The ground-floor retail shell remains vacant and will require separate occupancy approvals once a tenant is lined up.
The site sits in CMX2 zoning, which allows this kind of four-story residential-over-retail by right—no variance theater required. Frankford Avenue's commercial corridor has absorbed dozens of similar projects over the past few years, and this one slots into that pattern without fuss. The commercial bay is modest but could help fill a stretch of the avenue that's seen uneven retail success even as apartment construction has accelerated.
The building lands in the middle of a serious apartment wave. Within a half-mile radius, more than 500 units have either delivered or are underway, including a 108-unit complex on Hagert Street and a 60-unit building on North Front. Nearby infill projects at 2456 Frankford and 2214 North Front add another 30 units combined. The density is real, and the scale is consistent—mostly mid-rise, mostly by-right, mostly speculative.
What this signals is that Frankford Avenue's smaller, underbuilt parcels remain attractive to developers willing to work within the CMX2 envelope. The corridor still has gaps—surface lots, low-slung commercial buildings, auto-oriented sites—that pencil for this kind of four-story, 20-ish-unit formula. As long as construction costs stay manageable and rents hold, expect more of the same.
📄 View the project's plan drawings (PDF)As this density arrives, InvestPHL is tracking 86 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 86 nearby opportunities →Major (8+ unit) new-construction projects filed within a half-mile since 2022 — the density gathering around this site.