5312 Ridge Ave 5312 Ridge Ave

Newer Construction
Completed in November 2021 and 100% occupied now, the Property was constructed with 36 apartments plus 2 commercial units with 21 parking spaces, by an experienced builder with deep expertise in the local market, featuring high-end residential finishes such as granite counters, stainless steel appliances, undermount sinks with push-button garbage disposals, gooseneck faucets, luxury vinyl plank flooring, in-unit washer/dryers, subway tile backsplashes, oversize closets, spacious bathrooms, and large windows. Currently a 37th unit is being constructed.
The Property contains luxury amenities such as a state-of-the-art intercom system with key-fob entry, ample closet space, and an eco-friendly green roof providing stormwater management and views of Roxborough, Manayunk, Bala Cynwyd and the Schuylkill River.
Full 10-Year Tax Abatement (3rd year of abatement in 2024)
The Property will benefit from a full 7 more years abatement of real estate taxes. As Philadelphia City Council recently adjusted the abatement program to provide for a step-down of the tax abatement for new properties, this will be one of the last newly constructed buildings in Philadelphia to benefit from the more valuable full abatement structure. It is expected that given the expiration of the full 10-year tax abatement, there will be limited competing supply of new apartment construction in future years.
Transit Oriented
The Property is ¼ mile (a 5-minute walk) to Septa’s Wissahickon train station, part of the regional rail line on the popular Manayunk-Norristown Line. It is also less than one mile from the onramp of the City Avenue interchange of I-76, providing convenient access Center City Philadelphia and all of Montgomery County, including all of the region’s major office markets.
Thriving Neighborhood
The Roxborough submarket has received a significant influx of high-income renters who remain attracted to the neighborhood’s affordability and manageable comminuting times, both to Center City and to suburban white-collar employment centers around Bala Cynwyd and King of Prussia. Additionally, Main Street Manayunk is less than ½ mile from the Property, which offers even more retail, dining and nightlife options including over 50 shops and 30 restaurants.