Market Insights  /  Fishtown & East Kensington
Development Watch · Fishtown & East Kensington

2640-48 E Lehigh AveUnder construction

36-unit residential new construction, zoned CMX2.

Rendering of 2640-48 E Lehigh Ave — Floor Plans Hint at What's to Come for Warehouse in Olde Richmond
Floor Plans Hint at What's to Come for Warehouse in Olde Richmond
Rendering of 2640-48 E Lehigh Ave — 2640 E Lehigh Avenue - Property Sale
2640 E Lehigh Avenue - Property Sale
Published renderings · via ocfrealty.com. Shown for informational purposes; rights belong to the original creator.See the source →

A four-story mixed-use building with 36 apartments and office space is under construction at 2640–48 E Lehigh Avenue in Fishtown & East Kensington. Cleared to build in December 2024, the project spans a 10,413-square-foot lot and is being developed by 2640 East Lehigh LLC, which acquired the site last year. The building is being sprinklered throughout—amenity spaces under NFPA 13 and residential areas under 13R—and has already undergone multiple amendments to adjust floor layouts, cellar design, and truss drawings.

The site carries CMX2 zoning, which allows this scale of mixed-use construction by right. That puts it squarely in the neighborhood's current development trajectory, where mid-rise residential projects have been filling in underused industrial and commercial parcels. Within a half-mile radius, only about 15 units are in the pipeline nearby, including a 15-unit building at 2976 Richmond Street, suggesting this stretch of Lehigh is still relatively untapped compared to denser corners of Fishtown proper.

The inclusion of office space alongside residential is a less common move in the area's recent wave of apartment construction, which has largely leaned toward pure multifamily or ground-floor retail. Whether that points to a broader mixed-use shift along this corridor or simply reflects the developer's own needs remains to be seen. Either way, the project is one of the larger infill plays to advance recently in this slice of the neighborhood.

With a lot this size and zoning that supports density, the project may set a template for other oversized parcels along Lehigh Avenue. The corridor still holds a fair number of aging industrial and commercial buildings that could accommodate similar mid-rise development, and this one's progress will offer a useful read on how the market absorbs new supply this far from the Frankford Avenue core.

📄 View the project's plan drawings (PDF)
Schematic massing — illustrative of the ~4-story by-right envelope, not the developer's design.
Units
36
Zoning
CMX2
By-right envelope
~4 stories
Lot
10,413 sq ft
Last sale
$2.3M · 2024
Cleared to build
Dec 23, 2024
For developers & investors

Underpriced parcels near this project

As this density arrives, InvestPHL is tracking 10 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.

~170buildable units
████████ Street
ICMX · 0.33 mi away
Max bid to a builder $7.5M · Opportunity Score 99
Unlock →
~223buildable units
████████ Street
ICMX · 0.27 mi away
Max bid to a builder $9.7M · Opportunity Score 99
Unlock →
~102buildable units
████████ Street
CMX2 · 0.44 mi away
Max bid to a builder $4.4M · Opportunity Score 98
Unlock →
~72buildable units
████████ Street
CMX2 · 0.25 mi away
Max bid to a builder $3.1M · Opportunity Score 98
Unlock →
~39buildable units
████████ Street
CMX2 · 0.41 mi away
Max bid to a builder $1.6M · Opportunity Score 75
Unlock →
Unlock the 10 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.

155u2507 Almond St0.28 mi
15u2976 Richmond St0.47 mi
In the news

What we're hearing about this project

Developers presented plans to ORCA for 36 units over four floors at the former Gordon & Sons Glass & Mirrors site, with mostly one-bedroom units and a ground floor courtyard.
The warehouse property at 2640-48 E Lehigh Avenue was sold for $2,325,000 on December 31, 2024.
News items are compiled automatically and may be approximate — verify before relying on them.
Progress

How this project is moving

Interior systems ~64% 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.