Sited just 4 blocks north of Philadelphia City Hall, 1428 Callowhill Street is centrally located in the urban core of Philadelphia, Pennsylvania — a “Top 10” USA MSA. Convenient access to Septa’s Suburban Station provides accessibility to the full regional rail and underground subway network throughout PHL. The PA Convention Center is just 2 blocks South. The Market Street West CBD (Philly’s top-tier office district) is also just 4 blocks south. A previously approved concept featured 162-apartments atop 2 floors of underground parking. However, as you’ll see in the real-time article linked below, mandatory parking is no longer included in CM4-5 zones — eliminating a costly construction variable for developers. Currently, the site generates ±$100k/annually on a short-term parking basis via ParkMobile. In-place income satisfies the short term for developers seeking to alter the previously approved 162-unit concept. Alternative lower-cost construction models are incorporated in the pages below in “as of right” scenarios WITHOUT mandatory parking inclusions. The composition of the proposed ±104K SF, 12-storey, elevator building includes studio, 1bd + 2bd apartments with a blended average rent of $2267 per unit ($4.73/PSF). A deluxe lobby with mezzanine, fitness center and roof terrace complete the micro-amenity suite for The Property. 1428 Callowhill presents a Core, urban-infill, high-rise trophy development opportunity in the heart of Downtown Philadelphia — where extreme high barriers-to-entry exist and rental demand outpaces supply, particularly for Class-A apartment stock.

Listing courtesy of Keller Williams Liberty Place



The real estate listing information is provided by Bright MLS is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing. Any information relating to real estate for sale or lease referenced on this web site comes from the Internet Data Exchange (IDX) program of the Bright MLS. This web site references real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Properties in listings may have been sold or may no longer be available. The data contained herein is copyrighted by Bright MLS and is protected by all applicable copyright laws. Any unauthorized collection or dissemination of this information is in violation of copyright laws and is strictly prohibited. Copyright © 2020 Bright MLS. All rights reserved.