About 2100-20 W Allegheny Ave
The Steel Heddle Building, (the “Site” and the “Property”) is an exceptional redevelopment opportunity located at 2100 W Allegheny Ave in Philadelphia, PA. The offering presents investors with the opportunity to not only reimagine an industrial building with roots dating back to 1919, but also continue the transformation of the Nicetown-Allegheny neighborhood.
The Site is currently occupied by the Steel Heddle Manufacturing building, a 257,000 square foot assemblage with fantastic frontage on Allegheny Ave and located only steps away from the Allegheny train station. Included within the Steel Heddle site are: the Plant (constructed 1919 with an addition in 1925-1927), the Main Office (constructed between 1919 and 1922), the Chrome Plating Building (constructed in 1951) and the Lumber Storage and Garage Building (constructed c.1930).
Steel Heddle benefits from direct access to regional/local rail lines that lend easy access to the region’s employment hubs of Center City, Conshohocken and the Main Line. The proximity to the region’s thoroughfares has sparked a wave of recent investment in the submarket that puts the Steel Heddle in the path of immediate growth. Additionally, the Property is located in a Qualified Opportunity Zone and benefits from the full 10-year tax abatement, offering a rare tax advantaged opportunity for developers and investors. Currently zoned for up to 260 units, the Steel Heddle presents an exciting and transformational adaptive reuse project in one of the most strategically located sites in the burgeoning North Philadelphia submarket of Nicetown/Allegheny.
SITE DETAIL
Address 2100 W Allegheny Avenue Philadelphia, PA 19132
Site Size (SF) 1.75 Acres | 75,600 SF
Existing Improvement (SF) 257,000 SF
Zoning I-1
Tax Parcel # 884557110
HIGHLIGHTS
PREMIER INFILL ADAPTIVE REUSE OPPORTUNITY conveniently located only minutes away from East Falls, Fairmount Park, Center City and the Main Line.
MAJOR EMPLOYMENT DRIVERS located within minutes of the Property.
Situated in a QUALIFIED FEDERAL OPPORTUNITY ZONE and benefitting from the 10-YEAR TAX ABATEMENT, affording a new owner eligibility for the benefits and tax incentives that a QOZ provides.
Robust fundamentals and market resiliency fuel LONG TERM GROWTH, as the City of Philadelphia has fared better than most major metros after an economic downturn.
UNMATCHED ACCESSIBILITY to public transit (Allegheny station directly across the street) and major roadways including I-76, Route 1 and I-676 via Broad Street (Route 611).
