170-unit residential new construction, zoned CMX3.
A 170-unit residential building is set to rise at 301 S 48th St in Kingsessing & Cedar Park, one of the larger new-construction projects underway in Philadelphia this cycle. It was cleared to build in Aug 17, 2026.
The 24,858 sq ft site is zoned CMX3, which supports a building on the order of 12 stories by right. The plans call for new construction of a twelve (12) story building with underground parking garage and multiple roof decks for use as shell commercial spaces (use registration & fit-out permits required prior to occupancy) on the first and second floor levels and one hundred seventy (170) dwelling units above as per approved plans. building to be fully sprinklered per nfpa 13 and include standpipes per nfpa 14. *2018 ibc review* **separate permits required for excavation, mep & fire suppression work**.
The owner of record is Spruce Street Development. 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, 1 other major projects have broken ground since 2022 — roughly 20 units of new supply — including the 20-unit project at 222 S 45th 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 68 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 68 nearby opportunities →Major (8+ unit) new-construction projects filed within a half-mile since 2022 — the density gathering around this site.