On behalf of Ownership, CBRE is pleased to present the opportunity to acquire 2202 E Allegheny Ave (“The Property”). The site is located in the path of growth within the Port Richmond neighborhood of Philadelphia. Port Richmond, just North of Fishtown, is situated between the Market Frankford subway line and I-95, making it the perfect location for access to Center City, Bucks County and even New York City.
Ownership has designed a 288 unit modular project on the IRMX zoned site. Although the development is not yet entitled, it can be built by right, thus lowering the entitlement risk. Additionally, the project has been pre-engineered, which will compress the approval process timeline. Ownership will consider staying on to take the Property through the zoning entitlement process and act as the general contractor to build it. Building modular can reduce time to construct by up to 40% which results in significant cost savings.
|2202 E. Allegheny Avenue