4312 Market StCleared to build

A 40-unit residential building is set to rise at 4312 Market St in University City & Powelton, a mid-scale addition to one of the city's busier development corridors. It was cleared to build in Mar 6, 2020.

The 7,735 sq ft site is zoned CMX3, which supports a building on the order of 6 stories by right. The parcel last changed hands in 2018. The plans call for for the erection of an attached structure with a common roof deck above accessed by a pilot house for use as forty (40) dwelling units with fitness facility/gym and with fifteen(15) bicycle spaces on an accessiable route. the building shall be fully sprinklered. occupant notification in accordance with sec.907.5 shall be provided in the occupied roof (ibc sec. 503.1.4 exception 1).separate permits required for m.e.p.s work. separate approval required from pa l & i for the elevator installation. see case #39221 for granted variance for permitting the mezz to be over the threshold.

The owner of record is Market 43 Associates 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, 8 other major projects have broken ground since 2022 — roughly 313 units of new supply — including the 12-unit project at 4245 Sansom St, the 12-unit project at 4401 Holden St, the 145-unit project at 4401 Holden 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?