116-unit residential new construction, zoned SPINS.
A 116-unit residential building is set to rise at 3900-46 Walnut St in University City & Powelton, one of the larger new-construction projects underway in Philadelphia this cycle. It was cleared to build in Jul 11, 2019.
The 239,962 sq ft site is zoned SPINS, which supports a building on the order of 14 stories by right. The parcel last changed hands in 2018. The plans call for four the erection of a fourteen (14) story highrise building of type ia construction for new student dormitory with accessory use as per plans. separate permits required for all mechanical, electrical, plumbing and fire suppression work.
The owner of record is Trustees Of The Universit. 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, 4 other major projects have broken ground since 2022 — roughly 833 units of new supply — including the 95-unit project at 4050 Ludlow St, the 363-unit project at 3615 Chestnut St, the 363-unit project at 3615 Chestnut 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?
📄 View the project's plan drawings (PDF)As this density arrives, InvestPHL is tracking 83 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 83 nearby opportunities →Major (8+ unit) new-construction projects filed within a half-mile since 2022 — the density gathering around this site.