2966 Richmond StDelivered

A 10-unit residential building is set to rise at 2966 Richmond St in Port Richmond & Kensington, the kind of by-right infill quietly reshaping the block. It was cleared to build in Dec 9, 2020.

The 28,400 sq ft site is zoned CMX2, which supports a building on the order of 4 stories by right. The parcel last changed hands in 2022. The plans call for new construction of a four (4) story structure for use as a shell commercial space (use registration & fit-out permits required prior to occupancy) on the first floor front and ten (10) dwelling units as per approved plans. work to include underpinning to be monitored by a pa licensed pe at all times. building to be fully sprinklered per nfpa 13 and include standpipes per nfpa 14. *2018 ibc review* **separate permits required for mep & fire suppression work** amendment approved 3/1/21 amend new construction permit no. cp-2020-005620 to include new vertical chase and new rated assemblies as per approved plans. amendment approved 9/16/21 amend new construction permit no. cp-2020-005620 to change roof assembly and parapet design as per approved plans. .

The owner of record is 2966 Richmond Associates. 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, 2 other major projects have broken ground since 2022 — roughly 51 units of new supply — including the 15-unit project at 2976 Richmond St, the 36-unit project at 2640-48 E Lehigh Ave. 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?