4415 Chestnut StDelivered

A 40-unit residential building is set to rise at 4415 Chestnut St in University City & Powelton, a mid-scale addition to one of the city's busier development corridors. It was cleared to build in Mar 24, 2021.

The 16,686 sq ft site is zoned CMX2, which supports a building on the order of 5 stories by right. The parcel last changed hands in 2021. The plans call for for the erection of a detached structure with green roof. for multi-family household living forty (40) dwelling units from second floor through fifth floors , and fourteen (14) bicycle spaces in an accessible route. building to be fully sprinklered. separate building permit required to fitout the commecial space prior to occupancy. separate permits required for m.e.p.s work. separate permits required from pa l&i for elevator installation. amendment to add new exterior wall openings, change parking and floor layout as per approved revised plans. amendment to include front door size adjustment, stair tower material alterations, drop ceiling removal in garage, stair direction reversal from electrical room and north fire tower, creation of closet space in hallways, ada unit moved from 4th floor to 5th floor as per approved revised plans.

The owner of record is 4415 Chestnut 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, 9 other major projects have broken ground since 2022 — roughly 483 units of new supply — including the 12-unit project at 4245 Sansom St, the 8-unit project at 4401 Holden St, the 12-unit project at 4401 Holden St. 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?