49-unit mixed-use new construction, zoned CMX5.
A 49-unit mixed-use building is set to rise at 1208 Chestnut St in Washington Square & Chinatown, a mid-scale addition to one of the city's busier development corridors. It was cleared to build in May 30, 2019.
The 5,875 sq ft site is zoned CMX5, which supports a building on the order of 12 stories by right. Records show the parcel last traded in 2017 for $2.8M. The plans call for new construction of 11-story abv grade plane, w. basement & roof decks, mixed-use multi-family high-rise building of shallow concrete matt slab foundation, cold form frame & structural steel frame, & masonry construction building including underpinning of exist. adjacent bldg's foundation per aproved plans; bldng to be fully sprinklered per nfpa 13 min. separate permit req'd for fit-out of bsmt. & 1st flr commercial spaces & any mech., elec., plumb., & firesupp work. all means of pedestrian protection to be in place prior to start of work. *** all underpinning work to be continuously inspected by approved special inspection agency ***.
The owner of record is Chestnut View LLC.
It isn't rising in isolation. Within a half-mile, 1 other major projects have broken ground since 2022 — roughly 81 units of new supply — including the 81-unit project at 225 N 13th 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 102 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 102 nearby opportunities →Major (8+ unit) new-construction projects filed within a half-mile since 2022 — the density gathering around this site.