155-unit residential new construction, zoned CA2.
A 155-unit residential building is set to rise at 2507 Almond St in Fishtown & East Kensington, one of the larger new-construction projects underway in Philadelphia this cycle. It was cleared to build in Sep 10, 2026.
The 37,863 sq ft site is zoned CA2, which supports a building on the order of 5 stories by right. Records show the parcel last traded in 2024 for $2.3M. The plans call for new construction of a five (5) story structure to include accessory parking garage for use as one hundred fifty-five (155) dwelling units as per approved plans. building to utilize horizontal separations to create two (2) separate buildings with two (2) different construction types (1st floor - type ia and 2nd through 5th floors - type iiia). building to include horizontal exit. fire retardant treated studs and sheathing required for type iii construction. amended permit approval required for truss drawing submission and approval prior to installation. building to be fully sprinklered per nfpa 13 and include standpipes per nfpa 14. fire watch required per code bulletin f-2001. *2018 ibc* **separate permits required for excavation, mep & fire suppression work**.
The owner of record is L & M Medicon Real Estate Developments L. 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 100 units of new supply — including the 36-unit project at 2640-48 E Lehigh Ave, the 26-unit project at 2626 Trenton Ave, the 22-unit project at 2406 Frankford Ave. 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 33 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 33 nearby opportunities →Major (8+ unit) new-construction projects filed within a half-mile since 2022 — the density gathering around this site.