14-unit residential new construction, zoned CMX2.5.
A 14-unit residential building is set to rise at 1723 Ridge Ave in Fairmount & Art Museum, the kind of by-right infill quietly reshaping the block. It was cleared to build in Mar 19, 2020.
The 3,990 sq ft site is zoned CMX2.5, which supports a building on the order of 5 stories by right. Records show the parcel last traded in 2022 for $4.6M. The plans call for the construction of a five story mixed use multi family building with a partial basement for utilities and storage, ground flr to contain one residential unit and a vacant on residential space flrs 2-5 to containresidential units for a total residential unit count of 14. roof to have a common roof deck for residential use only. separate permits will be obtained for mechanical, eletrical and plumbing, as well as the fit out of the vacant non residential space.
The owner of record is 1721-23 Ridge 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 289 units of new supply — including the 12-unit project at 1822 Ridge Ave, the 17-unit project at 1633-43 Ridge Ave, the 12-unit project at 1638 Ridge 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?
📄 View the project's plan drawings (PDF)As this density arrives, InvestPHL is tracking 70 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 70 nearby opportunities →Major (8+ unit) new-construction projects filed within a half-mile since 2022 — the density gathering around this site.