Market Insights  /  Fishtown
Development Watch · Fishtown

1700 Germantown AvePermitted

138-unit residential new construction, zoned IRMX.

A seven-story mixed-use building with 138 units is cleared to build at 1700 Germantown Avenue in Fishtown, part of a two-structure development tied together by elevated walkways. The project, held by Graffiti Pyramid LLC since 2019, will deliver residential units on floors three through seven, with vacant commercial space on the ground floor and offices or research-and-development space on the second. A basement level will hold accessory parking, and a rooftop deck will cap the seventh story. The building connects to an adjacent eight-story structure via horizontal exits, creating a substantial midrise campus on a 29,260-square-foot lot.

The site sits in an IRMX zone, which allows this scale by right and reflects the kind of dense, transit-adjacent development that's reshaped Germantown Avenue over the past decade. The neighborhood has absorbed roughly 800 units within a half mile, with nearby projects including the 200-unit building at 1635 N 5th Street and the 89-unit development at 1832 Germantown Avenue. Graffiti Pyramid's project fits comfortably within that wave, adding another hundred-plus units to a corridor that's already proven demand for rental housing at scale.

What stands out here is the phased approach—two separate buildings, one seven stories and one eight, linked by elevated passages rather than built as a single mass. That strategy likely eases construction logistics and may allow for staggered delivery, though both structures were cleared to build in late 2019. The ground-floor commercial bays remain undesignated, awaiting fit-out permits once anchor tenants emerge. For now, the project represents one more data point in Fishtown's ongoing transformation from scattered infill to coordinated, block-scale development.

The presence of so much nearby construction—at least five other projects within immediate walking distance—suggests that IRMX parcels along this stretch of Germantown Avenue will continue to see attention from groups assembling larger sites. The two-building model here could become a template for other landlocked lots that can't achieve efficient floor plates without creative massing. As the corridor thickens, the question shifts from whether density will arrive to how developers will solve for parking, retail activation, and pedestrian circulation in a neighborhood that's still learning to accommodate midrise living.

📄 View the project's plan drawings (PDF)
Schematic massing — illustrative of the ~7-story by-right envelope, not the developer's design.
Units
138
Zoning
IRMX
By-right envelope
~7 stories
Lot
29,260 sq ft
Last sale
2019
Cleared to build
Dec 9, 2019
For developers & investors

Underpriced parcels near this project

As this density arrives, InvestPHL is tracking 126 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.

~98buildable units
████████ Street
CMX2 · 0.48 mi away
Max bid to a builder $6.7M · Opportunity Score 100
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~338buildable units
████████ Street
ICMX · 0.19 mi away
Max bid to a builder $7.1M · Opportunity Score 98
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~239buildable units
████████ Street
CMX2.5 · 0.49 mi away
Max bid to a builder $4.6M · Opportunity Score 98
Unlock →
~190buildable units
████████ Street
ICMX · 0.10 mi away
Max bid to a builder $4.0M · Opportunity Score 94
Unlock →
~179buildable units
████████ Street
ICMX · 0.36 mi away
Max bid to a builder $3.4M · Opportunity Score 94
Unlock →
Unlock the 126 nearby opportunities →
The block

What else is rising nearby

Major (8+ unit) new-construction projects filed within a half-mile since 2022 — the density gathering around this site.

200u1635 N 5th St0.08 mi
89u1832 Germantown Ave0.16 mi
8u1850 N Leithgow St0.17 mi
8u1545 N 6th St0.18 mi
18u439-45 W Berks St0.20 mi
12u1733-41 N 2nd St0.28 mi
9u1941 N Marshall St0.29 mi
33u300 W Norris St0.30 mi
Progress

How this project is moving

In permitting ⚠ Status unclear — no recent activity
Estimated from the construction permit sequence — an approximation of stage, not a precise schedule.
Every logged milestone appears here — highlighted ones are the headline stages; the rest track interim construction activity. Checked daily.
Compiled by InvestPHL. Unit counts, scope, and ownership are as recorded and subject to revision; the massing figure is a schematic illustration of the by-right envelope, not the developer's design or a marketing rendering. Verify zoning, status, and title with counsel before acting. InvestPHL does not list, market, or represent any property, buyer, or seller.