2016 Master StDelivered

A 51-unit residential building is set to rise at 2016 Master St in Brewerytown & Sharswood, a mid-scale addition to one of the city's busier development corridors. It was cleared to build in Dec 10, 2020.

The site is zoned RM1, which supports a building on the order of 4 stories by right. The parcel last changed hands in 2015. The plans call for for the erection of a four story attached strucure for use as a multi-family household living fifty-one (51) dwelling units and twelve (12) accessory off street parking spaces (including one ada space and two compact spaces) and accessory off street eighteen (18) class 1a bicycle parking spaces on accessible routes. building to be fully sprinklered in accordance with nfpa 13/13r with standpipes in exit stairways in accordance with nfpa 14. all work to be done per approved plans. if field conditions vary contact design engineer prior to the start of any work. **a covered walkway or sidewalk closure shall be required within 12 feet of the building facade in accordance with section 3306 of the 2018 ibc.** separate building and/or streets department permit required prior to the start of any work.*** fire watch is required once combustible construction is over 40 feet in height, a site safety plan shall be submited to building inspector prior to the start of any construction.*** separate permiits to be obtained for all other work.

The owner of record is Philadelphia Housing Auth. 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, 12 other major projects have broken ground since 2022 — roughly 270 units of new supply — including the 24-unit project at 1409 N 21st St, the 17-unit project at 2016 Ridge Ave, the 40-unit project at 2000 Ridge 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?