2017-2029 W DIAMOND ST Philadelphia, PA 19121

DIAMOND STREET REDEVELOPMENT OPPORTUNITY :: A handsome large stone and brick facility with excellent proportions, good bones, and plenty of curb appeal is offered for development with property tax incentives. This parcel includes five parcels with six buildings that total 22,164 SF sitting on 14,867 SF of land. Available 'As-Is, Where-Is'. || The main facility includes three buildings that total 18,348 SF with a 120' front and 100' depth and is composed of the Church-Chapel-Rectory, plus a full interconnected walkable basement with concrete floors below grade, and plenty of groomed outdoor space. || The main level of the Church opens to an expansive community hall with tall ceilings. The second level contains the central nave with a balcony and soaring ceiling where an additional third level of about 5,400 SF can be added. The chapel is two-stories with a generous open footprint that connects the church to the rectory. Finally, the rectory is a modest three-story structure that can serve as either office or living space. || Although the primary facility offers sound structures, these three buildings require a complete overhaul to modernize all systems, which would then make it eligible for a ten-year property tax abatement on the improvements. Providing all-new contemporary amenities and retooling the mission would anchor this facility as a hub in the evolving nearby community. || This property is located within the Diamond Street Historic District which is celebrated for its elegant Victorian townhome architecture proceeding from Broad Street west to Van Pelt Street which once served the expanding nouveau riche following post-Civil War industrialization. Your architect can advise you on the benefits of a Facade Easement or Historic Tax Credits to defray reconstruction costs. || Furthermore, this property is located within a KIZ 'Keystone Innovation Zone' which provides benefits, incentives, and tax credits to for-profit companies in life sciences and technology. || Three brick residential structures on Woodstock Street adjoin the main parcel and is an integral component of the sale. Each lot is 16'x60' and is zoned single-family, RSA5. These buildings are two-story 1,272 SF residences, each with three bedrooms plus a full walkable basement. These residential structures have over the years aided the mission of the main facility and are packaged with the main parcel as an option to support the new owners' objectives. The residential properties are not shells, yet a complete rehab of all systems will make each of these residences eligible for a ten-year property tax abatement on the improvements and an ARV north of $225K. || Overall, this offering is suitable for use as a: Hospitality or Teaching Facility, Medical-Health Facility, Long-Term Care, Tech Ctr, Event Center, Special Purpose, Multifamily, or Community Center. || This facility is located on a generous double-wide street and provides a good public transportation corridor to Broad Street, Temple Univ, and Center City. Ask us about parking opportunities for your redevelopment project. || Please feel free to contact us to discuss details and various development objectives.