New Aldi Grocery Store to Open Just Off North Broad Next Year
The discount supermarket chain is undergoing rapid expansion across the region and will anchor a mixed-use development set to open on Fairmount Avenue in 2019.
Aldi will anchor a new mixed-used development just off of North Broad. Photo: deepblue4you | iStock
By the end of 2019, The North Broad Corridor will be home to a brand new grocery store, one that’s known for its cheap but high-quality products. German discount supermarket chain Aldi just signed a long-term lease for a 25,427-square-foot retail space at 1300 Fairmount — at the intersection of Fairmount Avenue, Ridge Avenue, and North Broad Street, real estate development firm RAL Development Services recently announced.
Aldi will anchor the 14-story, 624,575 square foot mixed-used development coming to 1300 Fairmount next year. The property is bringing a whopping 478 rental apartments complete with studio, one-bedroom, two-bedroom and three-bedroom apartments.
“We’re pleased Aldi chose our location along the developing North Broad Corridor,” RAL managing director Spencer Levine said in a statement. “In a city where many people rely on walking or public transportation, a new supermarket in the area will be extremely valuable not only for the building’s residents but also for the surrounding community who have worked closely with our team to make this project a reality. Aldi will provide fresh, high-quality affordable groceries to the neighborhood.”
The international supermarket chain is executing an accelerated growth plan and currently operates more than 1,800 stores in 35 states.
Aldi Center Valley Division vice president Bob Grammar said in a statement that the company is investing more than $5 billion to remodel and expand its store count to 2,500 by the end of 2022, with a big push in the Philadelphia region.
“Our goal is to ensure ALDI stores are conveniently located for all of our loyal customers, and we think a new store at 1300 Fairmount will be a great addition. We also encourage Philadelphia shoppers to check out our new products in stores – 20 percent of our products are new compared to last year and 40 percent of the new items are fresh food,” Grammar said.
Retail space for 1300 Fairmount caps at 58,759 square feet. And so far, Aldi will be joining Nobel Learning Communities’ Chesterbrook Academy Preschool at the development.
RAL says its still looking for retail uses that will serve the entire neighborhood.
