Volume I · Reel I · MMXXVI

Build at the
40th parallel. North Forty · Residential Development Company

Scroll
Reel II — The Vision

The 40th parallel runs through
Philadelphia. The next decade
of American housing will be
built along its line.

$68M
Capital Deployed
2.4×
Average Multiple
28%
Avg LP IRR
11
Projects Underway
Reel III — Selected Work

Three projects.
One thesis.

Three full-bleed selections from the current and prior vintages. Each project was sourced off-market, underwritten to three scenarios, and built by a vertically integrated team.

N°40.001 — Featured Delivered · MMXXV

Spring Garden Block

Philadelphia · Pennsylvania

Eighteen ground-up townhomes delivered across a single master-planned block. Sold to neighborhood buyers in three pre-completion phases.

18
Units
$12.4M
Capital
2.5×
Multiple
31%
LP IRR
N°40.002 Delivered · MMXXV

Brewerytown Lofts

Philadelphia · Pennsylvania

Adaptive reuse of a 1922 industrial structure into twelve loft residences. Original timber trusses preserved; freight elevator retained as the building's signature.

12
Lofts
$8.7M
Capital
1.9×
Multiple
22%
LP IRR
N°40.003 Pre-Construction · MMXXVI

Graduate Hospital Mews

Philadelphia · Pennsylvania

Six boutique homes arranged around a shared cobblestone mews — designed in collaboration with a local landscape architect who shares our patience for things that take time to look right.

6
Homes
$7.2M
Capital
2.0×
Pro Forma
Q4
Delivery
40
Reel IV · The Invitation

Build the next reel
with us.

North Forty welcomes a small number of capital partners each vintage. The current pipeline, LP memorandum, and quarterly reports are available on request. Coffee in Philadelphia preferred.

Request the Memorandum →