Description
**Amazing Development Opportunity in Center City**Discover an unparalleled development opportunity at 709-17 North Penn Street, perfectly positioned on the waterfront in Center City. This prime location offers a versatile investment for either resale or long-term hold, currently available for $15,500,000. Alternatively, you can choose to purchase half of the development, with options to buy and build the (47) unit multi-unit side or the (12) luxury townhome side. Separate pricing is available upon inquiry.**Flexible Purchase Options:**- **Seller Incentives:** The seller is willing to purchase back your first two townhomes to assist with pre-sales, offering a unique advantage to developers.- **Owner Financing:** The seller is open to owner financing, providing flexibility to get you into the deal with less cash out of pocket.- **Creative Solutions:** The seller is committed to making this project as lucrative as possible, offering creative solutions tailored to your needs.**Development Highlights:**- **By-Right Build:** Construct 60 units on the water, fully compliant with zoning codes.- **Projected Resale Value:** Estimated at $68,000,000, this high-density project is a sound investment.- **Comprehensive Site Plan:** The waterfront site includes a 47-unit building, 12 luxury townhomes, a separate one-story commercial space, and 35 additional parking spaces, alongside two-car garage townhomes.- **Building Specifications:** The plan allows for construction up to 84 ft (7 stories).**Approvals and Reports:**- **Zoning and Permits:** Approval submitted in April 2022, with CDR + REO approved. Zoning permits are expected within 3-4 months.- **Environmental and Geotechnical Reports:** Preliminary StormWater Approvals obtained, with geotech report, phase 1, and phase 2 environmental tests available for review.Join the wave of billions of dollars in development on the waterfront surrounding this project. This is a rare opportunity to invest in a high-demand area with significant growth potential. Contact us today to explore this exceptional development opportunity and discuss how we can make it work for you.
-
0BEDS
-
2.13ACRES
-
0BATHS
-
01/2 BATHS
School Information
Description
**Amazing Development Opportunity in Center City**Discover an unparalleled development opportunity at 709-17 North Penn Street, perfectly positioned on the waterfront in Center City. This prime location offers a versatile investment for either resale or long-term hold, currently available for $15,500,000. Alternatively, you can choose to purchase half of the development, with options to buy and build the (47) unit multi-unit side or the (12) luxury townhome side. Separate pricing is available upon inquiry.**Flexible Purchase Options:**- **Seller Incentives:** The seller is willing to purchase back your first two townhomes to assist with pre-sales, offering a unique advantage to developers.- **Owner Financing:** The seller is open to owner financing, providing flexibility to get you into the deal with less cash out of pocket.- **Creative Solutions:** The seller is committed to making this project as lucrative as possible, offering creative solutions tailored to your needs.**Development Highlights:**- **By-Right Build:** Construct 60 units on the water, fully compliant with zoning codes.- **Projected Resale Value:** Estimated at $68,000,000, this high-density project is a sound investment.- **Comprehensive Site Plan:** The waterfront site includes a 47-unit building, 12 luxury townhomes, a separate one-story commercial space, and 35 additional parking spaces, alongside two-car garage townhomes.- **Building Specifications:** The plan allows for construction up to 84 ft (7 stories).**Approvals and Reports:**- **Zoning and Permits:** Approval submitted in April 2022, with CDR + REO approved. Zoning permits are expected within 3-4 months.- **Environmental and Geotechnical Reports:** Preliminary StormWater Approvals obtained, with geotech report, phase 1, and phase 2 environmental tests available for review.Join the wave of billions of dollars in development on the waterfront surrounding this project. This is a rare opportunity to invest in a high-demand area with significant growth potential. Contact us today to explore this exceptional development opportunity and discuss how we can make it work for you.
©2025 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Eric Askew | RE/MAX Experience. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2025-12-04T20:52:40.027.