46-unit residential new construction, zoned RM1.


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)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.
Unlock the 34 nearby opportunities →Major (8+ unit) new-construction projects filed within a half-mile since 2022 — the density gathering around this site.