Given the proximity to both Broad Street and Washington Avenue, you'd think that 15th & Federal would be one of the best corners in Point Breeze. Even though we've seen a bit of construction on the 1100 block of S. 15th St., this intersection remains several steps behind the other thriving parts of the neighborhood. A large part of this lag is probably related to 1433 Federal St., a property that wraps around the northeast corner and has been used as an auto garage for many years.
Yeah, that's a huge cinderblock wall.
The 15K sqft property went on the market two summers back at a list price of $2.6M, and a developer came forward to buy it for $2M a few months ago. In recent weeks, crews have been onsite, tearing down the building. Now seems like a good time to mention that the property that's right on the corner is owned by a different party and isn't part of this project. And that's why it's still there.
In the near future, work will begin on an apartment building on 15th Street which will include 39 units. The project is entirely by-right and already has permitting well underway. The design hasn't been finalized by any stretch, but architect Halee Bouchehrian responded to a thread on Facebook about the project and created a rendering that would be an awesome direction for the developers to take the project.
The apartment building will only take up a portion of the property, and the Federal frontage will remain vacant for a short time while the developer figures out the direction they wish to take. It's possible we'll see another residential building here, while mixed-use could also be a possibility. We shall see, but it's a safe bet that it will at the very least include some additional density which takes advantage of proximity to the Broad Street Line. Perhaps, once both the 15th Street side and the Federal Street side get redeveloped, this intersection will begin to feel like it's catching up, development-wise, with other parts of Point Breeze.
Disclosure: OCF Realty, parent company of Naked Philly, is the broker for this project.