2008 Walnut StDelivered

A 14-unit residential building is set to rise at 2008 Walnut St in Rittenhouse, the kind of by-right infill quietly reshaping the block. It was cleared to build in Dec 13, 2021.

The 4,830 sq ft site is zoned RMX3, which supports a building on the order of 7 stories by right. Records show the parcel last traded in 2021 for $2.8M. The plans call for new construction of a seven (7) story structure with common roof deck and pilot houses for use as fourteen (14) dwelling units as per approved plans. building to utilize horizontal separations to create two (2) separate buildings with two (2) different construction types (basement, 1st & 2nd floors - type ia and 3rd through 7th floors - type iiia). fire retardant treated studs and sheathing required for type iii construction. building to be fully sprinklered per nfpa 13 and include standpipes per nfpa 14. fire watch required per code bulletin f-2001. *2018 ibc review* **separate permits required for mep & fire suppression work**.

The owner of record is 2008 Partners 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, 2 other major projects have broken ground since 2022 — roughly 205 units of new supply — including the 121-unit project at 2012-14 Chestnut St, the 84-unit project at 1813 Ranstead 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?