A site visit by Philly YIMBY has revealed that construction is underway at a five-story multi-family building at 2738 Federal Street in Grays Ferry, South Philadelphia. Designed by Gnome Architects, with GRIT Construction as the contractor, the development will span 23,914 square feet and offer 24 condominiums. Features will include a cellar, balconies in the front and rear of the structure on the second through fourth floors, and a roof deck above the fourth floor. The project will include four accessory parking spaces, one of which will be ADA and van accessible, as well as space for 12 bicycles. Construction costs are listed at $1.4 million.
The project at 2738 Federal Street rises on the south side of the block between South 27th and South 28th streets, just off of Grays Ferry Avenue. Broad Street, with its SEPTA subway access, runs within a whopping half-hour hike to the east, yet the route 12 and 64 buses run nearby on Grays Ferry Avenue. In addition, University City, particularly its medical hub in the neighborhood’s southern section, is situated within a 20-minute walk across the Schuylkill River to the northwest. The Grays Ferry Crescent Trail Park along the waterfront is located within a 12-minute walk to the northwest, as well.
In part due to its relatively long distance from the South Broad Street corridor, Grays Ferry had been neglected by developers for decades. However, the neighborhood has bene awash with new construction in recent years, much of this comes in the form of single-family rowhouses. It is refreshing and encouraging to see a medium-density condo development, particularly one with such a high-caliber design, rise at 2738 Federal Street, which signifies growing developer faith in the neighborhood’s prospects and will hopefully pave the way for more high-density, high-quality projects in the vicinity in the coming years.