8-unit residential new construction, zoned CMX2.5.
A 8-unit residential building is set to rise at 1555 Ridge Ave in Fairmount & Art Museum, the kind of by-right infill quietly reshaping the block. It was cleared to build in Jan 31, 2019.
The 2,232 sq ft site is zoned CMX2.5, which supports a building on the order of 6 stories by right. Records show the parcel last traded in 2018 for $460K. The plans call for new construction of a five (5) story above grade plane, w. storage/utility bsmt & assmbly roof deck, mixed-use multi-family building of light-frame wood bearing wall, part. structural steel, & engineered wood shear wall construction w. all exterior walls of fire-retardant treated wood framing & non-combustible sheathing per approved plans; building to be fully sprinklered per nfpa 13. separate permit req'd for fit-out of 1st flr commercial space & any mech., elec., plumb., & firesupp work. see bldg prmt# 902743 for previously approved foundation construction. all means of pedestrian protection to be in place prior to start of work.
The owner of record is Sdg Tcg 1555 Ridge Ave Ll. 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 374 units of new supply — including the 11-unit project at 1630-32 Ridge Ave, the 12-unit project at 1638 Ridge Ave, the 17-unit project at 1633-43 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 95 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 95 nearby opportunities →Major (8+ unit) new-construction projects filed within a half-mile since 2022 — the density gathering around this site.