The Philadelphia Warehousing and Cold Storage Building
111-Unit Preservation & Overbuild
Marketing description
SCOPE Commercial Real Estate Services, LLC ("SCOPE") is pleased to present a unique opportunity to acquire an adaptive reuse multifamily development within the historic Philadelphia Warehousing and Cold Storage Company Building Complex. Prominently located at the corner of Columbus Boulevard and Noble Street.
Plans envision an eight-story preservation project with story overbuild. Once complete, the total unit count will be 84 units with amenity space and parking. Residents will enjoy sweeping views of the Delaware River and the Benjamin Franklin Bridge, offering a dramatic and picturesque urban backdrop.
Originally designed by brewery architect Otto C. Wolf, the building’s historic character is being preserved and enhanced through key architectural refinements. These include the retention of the iconic eighth-floor ghost sign and newly approved window openings in the building’s 32-inch-thick brick walls. The project received approval from the Philadelphia Historical Commission, and ownership has partnered with Mural Arts Philadelphia to relocate the iconic “Our Flag Unfurled” mural from Building B to Building C.
The site enjoys access via Columbus Boulevard, Noble Street, and the pedestrian-friendly Beach Street corridor. Unit D is part of the 500 North Columbus Boulevard Condominium, with an annual HOA fee of $2,031, which covers common infrastructure and Beach Street maintenance. The recorded address is 500 N Columbus Blvd, Unit B.
Strategically positioned near the intersection of Columbus Boulevard and Spring Garden Street, the property offers excellent transit and highway access. It is walkable to the Spring Garden SEPTA Station (Market-Frankford Line), and minutes from I-95 and the Vine Street Expressway.
Investment highlights
74,640 SF Adaptive Reuse | Delivered with 84-unit zoning & historic approval
Scale and Design | Over 80,000 square feet of potential building area, including an eight-story preserved structure with an optional story, stepped-back overbuild
HTC & Abatement | Possibility for HTC while capturing the legacy full 10-year tax abatement on the existing portion of the development (please consult your consultants for confirmation).
Iconic Waterfront Views | Direct views of Delaware River and the Benjamin Franklin Bridge
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