1700 Germantown AvePermitted

A 138-unit residential building is set to rise at 1700 Germantown Ave in Fishtown, one of the larger new-construction projects underway in Philadelphia this cycle. It was cleared to build in Dec 9, 2019.

The 29,260 sq ft site is zoned IRMX, which supports a building on the order of 7 stories by right. The parcel last changed hands in 2019. The plans call for for the erection of a seven (7) story semi-detached structure to be used as groups a-3/b/s-2 (vacant spaces at 1st & 3rd-7th flrs, offices/r&d at 2nd flr, accessory parking w/in basement, and residential roof deck above 7th sty roof), connected to new 8-sty bldg (see ap#962501) via elevated walkways (used as horizontal exits for required means of egress), as per plans; separate permits required for all mep/fsp work, and for fit-outs of vacant spaces; to be fully sprinklered w/standpipes as per nfpa 13/14; see ap#959480 for zoning/use permit; see ap#962501 for all plans/documents.

The owner of record is Graffiti Pyramid 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, 12 other major projects have broken ground since 2022 — roughly 800 units of new supply — including the 200-unit project at 1635 N 5th St, the 89-unit project at 1832 Germantown Ave, the 8-unit project at 1850 N Leithgow 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?