Philadelphia developer PCG Investment has secured $22 million in financing, allowing it to expand its original plan for a Fishtown apartment project, writes Ryan Mulligan for the Philadelphia Business Journal.
Called the Fairman, the new two-building project on Delaware Avenue across from Penn Treaty Park will feature a two-building, 86-unit apartment project.
The project will span two parcels — one with 60 units across seven stories and another at a corner property with 26 units.
According to PCG Investment, the original plan was for a 48-unit building, and then a 62-unit proposal.
After closing on the two properties in a $3.1 million deal in mid-2024, PCG Investment Principal Mihir Kothari said the revised proposal for the project was due to the amount paid for the land, and to build it.
“We needed to bring in the density for the economics of the deal to work,” he said.
The construction will cost about $17.5 million.
The two parcels will include ground-floor parking with residences above, retail space on the ground floor, and an adjacent public plaza, respectively.
Amenities in the works include a co-working lounge, rooftop deck, indoor lounge, game room, and a gym.
The Fairman project began site work in December 2025 and is expected to be completed by August 2027.
Read more about Fairman development project in Fishtown at the Philadelphia Business Journal.
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