12-unit residential new construction, zoned RMX3.
A 12-unit residential building is set to rise at 2218-22 Walnut St in Rittenhouse, the kind of by-right infill quietly reshaping the block. It was cleared to build in Apr 15, 2019.
The 7,299 sq ft site is zoned RMX3, which supports a building on the order of 3 stories by right. The parcel last changed hands in 2016. The plans call for new construction of six (6) story above grade plane, w. rooftop structure & basement, mixed const. building of structural steel, composite concrete slab, light-frame wood @upper stories, engineered wood shear wall, & shallow concrete foundation construction per approved plans including underpinning & fire-retardant treated wood framing & sheathing at all exterior walls for a mixed-use multi-family structure consisting of two (2) buildings per approved plans; building to be fully sprinklered & protected with a standpipe system. separate permit req'd for any wood & steel truss install (deferred), fit-out of vacant commercial space, & any mech., elec., plumb., & firesupp work. all means of pedestrian protection to be in place prior to start of work. site to be excavated at areas abutting properties not within the scope of this permit. adjoning property owner(s) to be notified in writing min. ten (10) days prior to start of work per sec. b-3307.1 of the phila. bldg. code. all underpinnig work to be continuously inspected by an approved special inspection agency. amendment to redesign elevation and layout changes at basement. amendment 3/2/23 to add horizontal exits to remove requirement of standby power.
The owner of record is 2323 LP.
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?
As this density arrives, InvestPHL is tracking 63 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 63 nearby opportunities →Major (8+ unit) new-construction projects filed within a half-mile since 2022 — the density gathering around this site.