24-unit residential new construction, zoned CMX3.
A 24-unit residential building is set to rise at 312 N 2nd St in Old City & Society Hill, the kind of by-right infill quietly reshaping the block. It was cleared to build in Jun 13, 2019.
The 3,682 sq ft site is zoned CMX3, which supports a building on the order of 6 stories by right. Records show the parcel last traded in 2022 for $9.9M. The plans call for for the erection of six (6) story structure with roof deck access structure and basement; for use as (24) dwelling units and a common roof deck. building to be type ia construction at the 1set floor level with type iiia construction above separated by a three (3) hour floor ceiling assembly. fire retardant wood to be used for type iiia construction. entire building to be sprinklered per nfpa 13 and equipped with standpipes. all units to be type b dwelling units and (1) type a dwelling unit. amend permit 950813 on 7/2/21 to document change in use and occupancy classification from group r-2 to r-1. 10/4/2021: for amendment to revise layout of accessible units and type b units.
The owner of record is Jm Real Estate Holdings LP. 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, 7 other major projects have broken ground since 2022 — roughly 411 units of new supply — including the 35-unit project at 208-12 Vine St, the 85-unit project at 230-36 Vine St, the 11-unit project at 225 Quarry 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 56 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 56 nearby opportunities →Major (8+ unit) new-construction projects filed within a half-mile since 2022 — the density gathering around this site.