Qualified Opportunity Zone new development site in Fairmount/North Broad section of Philadelphia, Pennsylvania. Totaling 8250 SF with prominent corner exposure, this QOZ site is suited for high density multifamily by right. Condos or apartments would fulfill swelling residential demand in an inventory starved market. The best and highest use shows a by right + bonus multifamily plan featuring 67 residential dwelling units, 3000 SF of ground floor commercial, 12 underground parking spaces. This 115 foot tall Building would contain 57,300 SF with 11 storeys. Alternatively a by right design with no bonuses would feature 44 residential dwellings, 2680 SF of ground floor commercial, 8 surface parking spaces. This 75 foot tall Building would contain 41,000 SF with 7 storeys. Both designs would feature studios, 1 bedroom and 2 bedroom apartments plus an elevator and rooftop terrace. Additional bonuses are available to achieve higher density as well. The Location is surrounded by progressive new development in every direction including Divine Lorraine, 1300 Fairmount (478 new units plus Aldi Grocer), Stable Lofts + more. The area is bound by Fairmount and Francisville to the west, Temple University to the north, Center City Philadelphia to the south and North Broad due east. The site sits right atop the Septa Broad Street subway line at Fairmount Avenue for the ultimate transit oriented development access. Hurry to secure the coveted full 10 year tax abatement while it lasts. MAKE YOUR MOVE!
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