Market Insights  /  Brewerytown & Sharswood
Development Watch · Brewerytown & Sharswood

2408 Stewart StDelivered

16-unit residential new construction, zoned RSA5.

A 16-unit residential project at 2408 Stewart Street in Brewerytown has wrapped construction, filling out a generous 10,640-square-foot lot with a three-story, light-framed structure. The design leans on fire-wall separations between units, engineered bracing, slab-on-grade foundations, and standard utilities installed under separate permits — textbook low-rise multifamily for the neighborhood's RSA5 zoning. Cleared to build in early 2022, the project has moved from dirt to occupancy in a zone where by-right density is still the path of least resistance.

The Philadelphia Housing Authority holds title to the parcel, which had been vacant long enough to make the lot one of Brewerytown's quieter infill opportunities. PHA's involvement suggests the units may skew affordable or mixed-income, though the specifics haven't surfaced publicly. Either way, the scale matches the surrounding grain — nearby 25th Street has seen a steady drip of similar projects, from a 21-unit building at 1528 N 24th to clusters of 14- and 15-unit developments along the 1500 block of North 25th.

The immediate half-mile radius now holds roughly 165 units in recent or active projects, a sign that Brewerytown's second wave is less about flashy conversions and more about methodical, mid-scale infill. Stewart Street itself is beginning to look less like a leftover and more like a proving ground for modest, repeatable density. With PHA in the mix and construction costs still punishing, the formula here — three stories, fire-separated units, by-right approvals — is likely to recur on similar parcels as long as the broader market holds.

What this signals for neighboring underused lots is straightforward: RSA5 remains developer-friendly enough to pencil without rezoning theatrics, and the PHA's willingness to move forward suggests patient capital can still make headway even when the for-sale market wobbles. Expect more of the same — unglamorous, quietly effective projects that fill gaps without fanfare.

📄 View the project's plan drawings (PDF)
Schematic massing — illustrative of the ~3-story by-right envelope, not the developer's design.
Units
16
Zoning
RSA5
By-right envelope
~3 stories
Lot
10,640 sq ft
Cleared to build
Feb 17, 2022
For developers & investors

Underpriced parcels near this project

As this density arrives, InvestPHL is tracking 5 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.

~20buildable units
████████ Street
CMX2.5 · 0.38 mi away
Max bid to a builder $877K · Opportunity Score 59
Unlock →
~8buildable units
████████ Street
RM1 · 0.48 mi away
Max bid to a builder $300K · Opportunity Score 41
Unlock →
~8buildable units
████████ Street
RM1 · 0.48 mi away
Max bid to a builder $305K · Opportunity Score 41
Unlock →
~10buildable units
████████ Street
CMX2 · 0.37 mi away
Max bid to a builder $356K · Opportunity Score 37
Unlock →
~5buildable units
████████ Street
ICMX · 0.49 mi away
Max bid to a builder $203K · Opportunity Score 7
Unlock →
Unlock the 5 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.

8u2401 Stewart St0.01 mi
15u1503 N 25th St0.07 mi
16u1503 N 25th St0.07 mi
14u1515 N 25th St0.09 mi
16u1528 N 24th St0.12 mi
21u1528 N 24th St0.12 mi
8u1528 N 24th St0.12 mi
16u1525 N Stillman St0.12 mi
Progress

How this project is moving

Cleared for occupancy ~100% complete
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.