1021 N 3rd StUnder construction

A 28-unit residential building is set to rise at 1021 N 3rd St in Northern Liberties, the kind of by-right infill quietly reshaping the block. It was cleared to build in Dec 28, 2021.

The 12,836 sq ft site is zoned CMX3, which supports a building on the order of 9 stories by right. The parcel last changed hands in 2021. The plans call for for the erection of an eight story semi-detached structure for the use of vacant commercial spaces on the ground floor level with multi-family household living (28 units) above with accessory parking ( 12 accessory surface parking space w/bicycle parking) located on the ground floor level. building to be fully sprinklered in accordance with nfpa 13 and interconnected standpipes to be provided in exit stairways in accordance with nfpa 14. all work to be done per approved plans. if field conditions vary contact design engineer prior to the start of any work. **a covered walkway or sidewalk closure shall be required within 27 feet of the building facade in accordance with section 3306 of the 2018 ibc. separate building and/or streets department permit required prior to the start of any work.**separate permits to be obtained for all other work. .

The owner of record is L W Partners III 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, 8 other major projects have broken ground since 2022 — roughly 610 units of new supply — including the 10-unit project at 1139-41 N 3rd St, the 166-unit project at 310 W Girard Ave, the 55-unit project at 828-40 N 2nd 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?