MIXED-USE REDEVELOPMENT SITE

On behalf of ownership, GREA extends to qualified investors the opportunity to acquire the fee simple interest in the Gretz Brewery Redevelopment Project at 1524-38 Germantown Avenue (the “Property” or “Asset”) in the Olde Kensington neighborhood of Philadelphia, Pennsylvania. The Asset comprises an existing historic brewery complex on a ±30,600 square foot parcel fronting Germantown Avenue, W. Oxford Street, N. Lawrence Street, and Redner Street with IRMX zoning.

This site is approved for a mixed-use redevelopment project of 200 residential units, 5,506 square feet of commercial space, and 48 parking spaces. The site would retain the existing structures and construct new additions on open land and above the masonry buildings currently on the site. 

Olde Kensington is experiencing a renaissance with countless new construction and adaptive reuse projects recently completed and underway in the neighborhood. The Property sits along Germantown Avenue, which has seen several adaptive reuses and new construction projects completed over the last decade. Additionally, it is located just off of the North American Street commercial corridor that is undergoing its own transformation, and within walking distance of Fishtown’s Frankford Avenue and the booming Northern Liberties neighborhood.  The Property presents a rare opportunity to acquire an existing footprint in this growing section of the City that allows for zoning benefits due to its historic designation and the potential for historic tax credits. 

The Property is well-located for transportation purposes. It is only a short walk to the Berks Street El Station, which carries commuters into Center City Philadelphia in under 10 minutes and sits on major bus routes. In addition, the Property is a short drive from an onramp for I-95 for direct access to Center City, University City, and the surrounding suburbs via Interstates 76 and 676.