Developer plans Fishtown apartment projects at two prime locations
The two Fishtown developments will add nearly 200 apartment units to the neighborhood.
Archive Development, a five-year old real estate company, is preparing to begin work on the next project.
A Philadelphia-based company plans to build a seven story building at 1440 N. Front St. with 114 apartments. The second project, at 945 Frankford Ave. opposite the Fillmore Philadelphia Casino and Rivers Casino, calls for 78 apartment units and is intended to bridge the gap between Fishtown and the Delaware River.
Archive Development plans to develop four projects on Frankford Avenue, as part of the 10 projects and 300 apartments that it is currently working on.
Henry Siebert, Founding Partner of Archive, stated that the project at the corner Delaware and Frankford Avenues will cost approximately $25 million. Archive hopes to begin construction in two to three months. The buildout will take two years. Siebert, 24, stated that the goal was to activate "such an important part of the corridor," which is viewed by Delaware Avenue as a portal into Fishtown.
One Frankford, the project's name, will be built on a surface parking lot located above the Northern Liberties Loop SEPTA Station. Archive purchased the land in 2021, for $3.65m according to property records. Siebert said that it took a year to try to wrest the parcel of land from two brothers, who had owned it but did not speak to one another. Siebert stated that Archive eventually outlasted 10-20 bidders for the land.
The company then undertook a second year-long variance to upzone the parcel. Siebert added that they also "went door to door" in order to find out what the neighbors wanted for one of the only underdeveloped parcels on Frankford Avenue.
Siebert stated that "They do not want a club."
Siebert wants to create a food concept under the residential units that will be available day and night. Siebert also said that plans call for a garden for the public and a gathering place, similar to Fishtown's "Rose Garden 2.1", Siebert added. He hopes that the development will be able to benefit from nearby businesses such as the Fillmore, Brooklyn Bowl, and Five Iron.
Fishtown is no exception. Fishtown District and Delaware River Waterfront Corp. received nearly $1 million from the federal government for the Frankford Ave Connector Project. Siebert has been working with Fishtown Kensington Area Business Improvement District to illuminate the stretch of Frankford Avenue with street art, public art and lighting beneath the I-95 overpass.
"Our project is a major part of that. We're anchoring lower Frankford," Siebert said. Siebert founded Archive Development at the University of Pennsylvania.
Archive Development plans to build an 85,000-square foot residential building worth nearly $30 million on the North Front Street and Jefferson Street parcel. Siebert hopes to start construction in the summer of 2025.
Archive Development purchased the parcel that spans from 1428-1442 N. Front St. in July for $5.2 Million, according to records. A warehouse and retail space on a part of the parcel will be demolished in order to make room for the new project. The retail space will measure 2,000 square foot. Siebert hopes a restaurant will fill the space to match Front Street's "vibrant retail area".
Archive Development plans to build an L-shaped structure along the Market-Frankford Line. Five studios would have a total of 535 square foot, 93 units with one bedroom would range from 515 to 580 sq. ft. and 16 apartments with two bedrooms would cover 735 to 780 sq. ft. The building will have a rooftop deck as well as an adjacent "sky-lounge" with a transparent facade offering views of Philadelphia's skyline. The building will have a gym on the ground floor and coworking space.
Siebert stated that the company was looking to move away from a flat façade and incorporate elements of El into the design. The facade will feature metal cladding and metal balconies that mimic the architecture of the train.