It was maybe half a year ago that we spied some workers doing what looked like ground testing at 1102 N. 2nd St., and it got us wondering whether this large and curiously ignored parcel in Northern Liberties could soon get developed. We explained that the property was owned by Tower Investments, noting that this developer had built so much in this neighborhood, that it was hard to predict what they could do with the property. We suggested different possibilities, including a mini-Piazza, a commercial development, something that’s purely residential, or a small factory. We didn’t anticipate that Tower would sell the property to a new developer, but it seems that’s exactly what has happened.
Last week, Curbed reported that Tower had sold the property to a developer called US Capital Investments 3 for a sum of $4.5M. Not wasting any time, the new owners are pursuing a by-right plan for two new buildings, one with 2 retail spaces and 75 apartments (which we have to think will front on Girard Avenue), and the other with 38 apartments and no commercial space. The project will also include 30 parking spaces for cars and 43 spaces for bikes.
Without specific information about the architecture of the buildings or the layout of the site, this still sounds like a great project. It will add density to the northern end of Northern Liberties, while filling in a gaping hole in the neighborhood that’s surely bothered neighbors for many years. The new residents will, along with the people moving into Liberty Square a block to the north, provide an immediate shot in the arm to the West Girard commercial corridor, and will also be a boon for businesses down the street on North 2nd Street and in Fishtown. We aren’t sure why it took so long for Tower to finally decide to sell the property, nor do we know why they sat on it for such a long time, but we’re grateful that it has finally changed hands and will be excited to see a couple new buildings rise here. We’ve already reached out to architects Harman Deutsch for renderings of the project, and as soon as those come through, we’ll be sure to share.