155-unit residential new construction, zoned CA2.
A 155-unit apartment building is cleared to build at 2507 Almond Street in Fishtown, adding another substantial five-story piece to the neighborhood's steady residential thickening. The project will span nearly an acre and include accessory parking, with plans calling for a split-construction approach—Type IA on the ground floor and Type IIIA wood frame above, separated horizontally to meet code. It's the kind of purposeful midrise density that CA-2 zoning allows by right, and on a parcel this size, 155 units lands comfortably within the envelope.
The site is owned by L & M Medicon Real Estate Developments, which picked it up last year. The building will run fully sprinklered with standpipes, and construction will require fire watch protocols during certain phases. The footprint is large enough to accommodate both residential volume and parking without the gymnastics smaller infill projects face, making this one of the more straightforward assemblages to pencil in an area where developers are increasingly competing for workable land.
The project joins a cluster of recent multifamily builds nearby—26 units at 2626 Trenton, 36 units at 2640-48 East Lehigh, and smaller ones along Frankford Avenue—that together represent about 100 units within a half-mile radius. None approach the scale of 2507 Almond, which will be among the larger ground-up apartment plays in this stretch of East Kensington. The delivery will test absorption in a market that's seen steady leasing but hasn't yet dealt with a wave of larger buildings arriving simultaneously.
What this signals is that parcels over 30,000 square feet in CA-2 corridors are now clearly in play for institutional-scale multifamily, not just small-batch townhome developers. There aren't many lots this size left close to Frankford Avenue, and the ones that remain—particularly those with industrial legacy uses—will draw closer scrutiny now that projects like this have proven the zoning works and the market holds. Expect more land assemblage and fewer one-offs as the neighborhood matures past its scrappy infill phase.
📄 View the project's plan drawings (PDF)As this density arrives, InvestPHL is tracking 32 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 32 nearby opportunities →Major (8+ unit) new-construction projects filed within a half-mile since 2022 — the density gathering around this site.