6-unit residential new construction, zoned I2.
A 6-unit residential building is set to rise at 2731 Federal St in Graduate Hospital & Point Breeze, the kind of by-right infill quietly reshaping the block. It was cleared to build in Jul 20, 2021.
The 6,278 sq ft site is zoned I2, which supports a building on the order of 4 stories by right. Records show the parcel last traded in 2020 for $240K. The plans call for for construction of (1) new four story structure of type va construction with a cellar and a roof deck with roof access structures, 6-family dwelling plus vacant commercial at entire first floor and cellar with common roof deck accessed by (2) exterior stairs as per plans. amendment (11/29/2021) for the removal of the 30 miniutes rated common hall on the second and third floor as per plans.
The owner of record is Cal Grays Ferry 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, 3 other major projects have broken ground since 2022 — roughly 74 units of new supply — including the 9-unit project at 2732 Manton St, the 16-unit project at 1111 S 24th St, the 49-unit project at 1348 S 32nd 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 31 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 31 nearby opportunities →Major (8+ unit) new-construction projects filed within a half-mile since 2022 — the density gathering around this site.