Market Insights  /  Fairmount & Art Museum
Development Watch · Fairmount & Art Museum

1428 Callowhill StCleared to build

162-unit residential new construction, zoned CMX5.

A 162-unit, 13-story tower is cleared to build at 1428 Callowhill Street, where Bayview Philadelphia Callowhill LLC controls an 11,513-square-foot lot on the lower edge of Fairmount. The project will include 31 parking spaces and 74 bike spaces, a ratio that nods to the neighborhood's transit access and walkability but still reserves room for car storage. At that height and density, it's one of the more substantial residential additions to this stretch of Callowhill, which has attracted steady attention from developers looking to capitalize on CMX-5 zoning and proximity to both Center City and the Parkway.

Bayview picked up the parcel in 2020, and the building was cleared to rise by the end of 2021, putting it in line with a broader wave of mid-rise residential work in the immediate area. Within a half mile, nearly 300 units are either delivered or under way, including an 81-unit building at 225 North 13th and a 119-unit project at 619–29 North Broad. The Callowhill tower fits comfortably within that cluster, adding critical mass to a corridor that's been transitioning from light industrial to residential for the better part of a decade.

The project underscores how much appetite remains for high-density residential on by-right sites in this part of town, particularly as Fairmount and the northern edge of the Parkway continue to draw renters and buyers priced out of closer-in neighborhoods. With nearly 300 units already accounted for nearby, the question isn't whether Callowhill can absorb another 162—it's which underused parcels along this stretch will be next to trade hands.

📄 View the project's plan drawings (PDF)
Schematic massing — illustrative of the ~13-story by-right envelope, not the developer's design.
Units
162
Zoning
CMX5
By-right envelope
~13 stories
Lot
11,513 sq ft
Last sale
$6.3M · 2020
Cleared to build
Dec 31, 2021
For developers & investors

Underpriced parcels near this project

As this density arrives, InvestPHL is tracking 159 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.

~114buildable units
████████ Street
CMX4 · 0.26 mi away
Max bid to a builder $8.0M · Opportunity Score 100
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~98buildable units
████████ Street
CMX4 · 0.19 mi away
Max bid to a builder $6.7M · Opportunity Score 100
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~100buildable units
████████ Street
IRMX · 0.48 mi away
Max bid to a builder $7.0M · Opportunity Score 100
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~110buildable units
████████ Street
CMX2.5 · 0.34 mi away
Max bid to a builder $7.6M · Opportunity Score 100
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~57buildable units
████████ Street
IRMX · 0.44 mi away
Max bid to a builder $3.9M · Opportunity Score 100
Unlock →
Unlock the 159 nearby opportunities →
The block

What else is rising nearby

Major (8+ unit) new-construction projects filed within a half-mile since 2022 — the density gathering around this site.

23u1314-32 Spring Garden St0.23 mi
81u225 N 13th St0.25 mi
31u326 N 12th St0.26 mi
119u619-29 N Broad St0.36 mi
24u1315 Ridge Ave0.41 mi
20u689-95 N Broad St0.48 mi
Progress

How this project is moving

In permitting ⚠ Status unclear — no recent activity
Estimated from the construction permit sequence — an approximation of stage, not a precise schedule.
Every logged milestone appears here — highlighted ones are the headline stages; the rest track interim construction activity. Checked daily.
Compiled by InvestPHL. Unit counts, scope, and ownership are as recorded and subject to revision; the massing figure is a schematic illustration of the by-right envelope, not the developer's design or a marketing rendering. Verify zoning, status, and title with counsel before acting. InvestPHL does not list, market, or represent any property, buyer, or seller.