12-unit residential new construction, zoned RSA5.
A 12-unit residential building is set to rise at 3401 Wallace St in University City & Powelton, the kind of by-right infill quietly reshaping the block. It was cleared to build in Jan 30, 2021.
The 3,941 sq ft site is zoned RSA5, which supports a building on the order of 4 stories by right. The plans call for for the erection of an four story attached structure for use a multi-family dwelling ( twelve (12) dwelling units. structure to contain a roof decks accessed by three separate roof deck access structures for specific units. building is fully sprinklered in accordance with nfpa 13 and standpipes to be provided in the exit stairways per nfpa 14. all work to be done per approved plans. if field conditions vary contact design engineer prior to the start of any work. ***a covered walkway or sidewalk closure shall be required within 10 feet of the building facade in accordance with section 3306 of the 2018 ibc. separate building and/or streets department permit required prior to the start of any work. ** separate permiits to be obtained for all other work. .
The owner of record is 3401 Wallace LLC.
It isn't rising in isolation. Within a half-mile, 12 other major projects have broken ground since 2022 — roughly 351 units of new supply — including the 90-unit project at 3314-20 Fairmount Ave, the 20-unit project at 3310 Fairmount Ave, the 19-unit project at 723 N 35th 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?
As this density arrives, InvestPHL is tracking 17 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 17 nearby opportunities →Major (8+ unit) new-construction projects filed within a half-mile since 2022 — the density gathering around this site.