4050 Ludlow is a SHOVEL READY development site with BUILDING PERMITS and MEP’s in place for a 7 story mid-rise apartment building. The design calls for below grade parking with 18 spaces, and 95 residential units in the above floors. The residential units will be one bedroom and studios making the lease up exceptionally easy as these are the unit types across Philadelphia in the highest demand. The layouts also create incredible value as these units consistently garner the highest price per/sf in the city and this sub market. This project is in the very core of the University City sub-market in Philadelphia, an extension of Center City that is seeing incredible growth and demand. There are high barriers to entry in the sub market with development sites quickly drying up. Preliminary drawings will be included with the sale of the property. We believe this is an incredible opportunity to acquire a property with the approved zoning permit in hand in the heart of one of the most exciting sub markets in the North East Corridor.
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