$499,900

Zoning Permit Approved! Incredible development opportunity for an approved 18 unit plus commercial new construction building in Bridesburg. This is an 8,000 SF corner lot zoned CMX2 that includes zoning plans and permits, PWD green roof/ERSA approval, lot consolidation, Geotech report, Phase 1 environmental report, lab tested soil samples, and floorplans. The building is designed as a by-right project for 18 residential units and ground floor commercial. The ground floor commercial space can accommodate multiple commercial spaces or can be used as an additional 6 residential units if you choose to file for a zoning variance during construction totaling 24 residential units. Precedent has been set on the block with multiple other properties receiving zoning variances to change the first floor to residential use. A new construction 4 unit residential building and a renovated 4 unit residential building are located directly across the street. On a bus route, one block from Aramingo Ave, and 3 blocks from the I-95 on ramp this is a very convenient location in an area that is increasing in value. Each unit is designed with a private balcony/deck as well as elevator with access to the common green roof deck. The ground level has a nice lobby with mailroom, bike room, and the basement is a blank canvas if you want to add additional residential units or use for storage or separate commercial rental options. The 2nd through 4th floors consist of the 18 comfortably sized residential units (12 - 2bd/2ba units & 6 - 1bd/1ba units). With prices soaring in Port Richmond, this is the next area to take off with new residential development. Get in now to take advantage of the full 10 year tax abatement and low interest rates on construction financing. All of the heavy lifting has been completed so just finalize the construction drawings and hit the ground running.