2134 Ridge Avenue

Philadelphia, PA 19121

The site is 10,603 SF and zoned CMX 2. Current ownership has already consolidated the parcel. This new parcel configuration would allow 26 units by right with a green roof and between 32 and 39 units by using variations of the Mixed Income Housing Bonus. The buyer would be able to achieve 33 units over commercial and 19 parking spaces with moderate income housing bonus, these rental moderate income housing bonus rates are very near to market rents in the area and so they do not present much of a hinderance. The buyer could; however, seek to do any amount of units they wish either through the variance process, or a different combination of bonuses and if they decided not to do mixed income bonuses the buyer can pay into Mixed income housing fund, parking is not required but we feel is a nice amenity to have for the area. The location is prime, rumor has it that this portion of the Ridge Avenue corridor will soon have it’s zoning designation changed to CMX3 as this is along a quickly developing commercial corridor near PHA’s new headquarters and presents an opportunity for significant upside.