9-unit residential new construction, zoned RM1.
A 9-unit residential building is set to rise at 42 N 40th St in University City & Powelton, the kind of by-right infill quietly reshaping the block. It was cleared to build in May 14, 2021.
The 2,875 sq ft site is zoned RM1, which supports a building on the order of 3 stories by right. Records show the parcel last traded in 2020 for $500K. The plans call for for the erection of an attached structure. for use as household living (nine (9) dwelling units), utilizing the mixed-income bonus. building to be fully sprinklered. separate permits required for m.e.p.s work.
The owner of record is Han Holdings 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 1,047 units of new supply — including the 95-unit project at 4050 Ludlow St, the 14-unit project at 3932-36 Mount Vernon St, the 12-unit project at 4245 Sansom 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?
📄 View the project's plan drawings (PDF)As this density arrives, InvestPHL is tracking 108 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 108 nearby opportunities →Major (8+ unit) new-construction projects filed within a half-mile since 2022 — the density gathering around this site.