Market Insights  /  Brewerytown & Sharswood
Development Watch · Brewerytown & Sharswood

2800 Diamond StUnder construction

46-unit residential new construction, zoned RM1.

Rendering of 2800 Diamond St — A 46-Unit Affordable Housing Development Is Set to Break Ground in North Philadelphia
A 46-Unit Affordable Housing Development Is Set to Break Ground in North Philadelphia
Rendering of 2800 Diamond St — The Diamond Street Affordable Housing Project in Philadelphia's Strawberry Mansion Neighborhood Breaks Ground
The Diamond Street Affordable Housing Project in Philadelphia's Strawberry Mansion Neighborhood Breaks Ground
Published renderings · via whatnow.com. Shown for informational purposes; rights belong to the original creator.See the source →

A 46-unit building is under way at 2800 Diamond Street in Brewerytown, a four-story project with a green roof, roof deck, and two penthouses sitting atop an accessory parking garage. The developer, 2023 N 29th St LLC, cleared the structure for construction in November 2024 and has since amended the work to include underpinning—an indication that neighboring properties are close enough to require structural monitoring during excavation. The building spans a roughly 17,700-square-foot lot and takes advantage of RM1 zoning, which allows multifamily by right in this stretch of the neighborhood.

The project joins a modest but steady pipeline in the area, including a 15-unit building at 2111–13 N 33rd Street and an eight-unit development at 2400 W Montgomery Avenue. Combined, those nearby efforts add only 23 units within a half-mile radius, suggesting this part of Brewerytown is still in the earlier stages of infill rather than wholesale redevelopment. The 2800 Diamond site, with its relatively large footprint and midrise scale, represents a more ambitious bet than the scattered small-lot projects that have typified much of the neighborhood's recent activity.

What's notable here is the density: 46 units on a single parcel is a meaningful addition for a block that hasn't seen this kind of concentrated investment. The inclusion of structured parking and rooftop amenities points to a rental model, likely targeting tenants who want proximity to Fairmount Park and the Girard Avenue corridor without the price tags closer to Center City. For neighboring parcels that remain underbuilt or vacant, this project sets a template—RM1 zoning permits similar density, and if absorption holds, expect other developers to test the waters with comparable four-story, 40-plus-unit buildings on assembled lots nearby.

📄 View the project's plan drawings (PDF)
Schematic massing — illustrative of the ~4-story by-right envelope, not the developer's design.
Units
46
Zoning
RM1
By-right envelope
~4 stories
Lot
17,747 sq ft
Cleared to build
Nov 13, 2024
For developers & investors

Underpriced parcels near this project

As this density arrives, InvestPHL is tracking 34 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.

~53buildable units
████████ Street
RM1 · 0.30 mi away
Max bid to a builder $809K · Opportunity Score 88
Unlock →
~96buildable units
████████ Street
ICMX · 0.37 mi away
Max bid to a builder $1.5M · Opportunity Score 88
Unlock →
~46buildable units
████████ Street
RM1 · 0.25 mi away
Max bid to a builder $747K · Opportunity Score 86
Unlock →
~63buildable units
████████ Street
ICMX · 0.41 mi away
Max bid to a builder $985K · Opportunity Score 80
Unlock →
~50buildable units
████████ Street
ICMX · 0.49 mi away
Max bid to a builder $711K · Opportunity Score 74
Unlock →
Unlock the 34 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.

15u2111-13 N 33rd St0.40 mi
8u2400 W Montgomery Ave0.46 mi
In the news

What we're hearing about this project

The Diamond Street Affordable Housing Project broke ground on June 4, 2026, developed by Iron Stone Real Estate Partners and Silver Wave Equities.
The project received a $2.7 million equity investment from the 481 CEI-Boulos Impact Fund and will deliver 49,745 square feet of affordable workforce housing.
Permits were issued in November 2024 for a four-story building with 46 apartments, featuring a modern gray brick exterior with a green roof.
News items are compiled automatically and may be approximate — verify before relying on them.
Progress

How this project is moving

Interior systems ~62% complete
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.