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New Homes Preserve Affordability in Point Breeze

Submitted by Emily Hockenberry on Wed, 06/01/2011 - 13:50

Mayor Michael A. Nutter, Council President Anna Verna and State Representative Kenyatta Johnson joined Community Ventures and South Philadelphia H.O.M.E.S. to celebrate the groundbreaking of 11 new construction homes at 17th and Federal Streets in the Point Breeze neighborhood of South Philadelphia. This development will create affordable homeownership opportunities on two currently vacant sites. 

The homes at 17th and Federal Streets complement other city efforts to preserve affordability in the Point Breeze neighborhood. Over the past 20 years, more than 500 units of affordable homeownership, rental, senior and special needs housing have been produced, either through new construction or rehabilitation, in Point Breeze.   

Using Neighborhood Stabilization Program (NSP) funds from the American Recovery and Reinvestment Act (ARRA), this development will provide local construction jobs, strengthening the local economy. Point Breeze was one of only three neighborhoods in city to be targeted for affordable housing development under NSP. 

To learn more about NSP, visit the Office of Housing and Community Development website here. 

 

 

PACDC Fact

  • PACDC’s activities have culminated in more than $140 million in new resources for affordable housing and neighborhood economic development efforts.

  • The Philadelphia Housing Trust Fund has raised more than $67 million in revenue since September 2005 to expand housing opportunities for Philadelphia families.

  • The CDC Tax Credit Program has fostered 30 partnerships between businesses and CDCs that is providing $30 million in new funding to support neighborhood economic development.

  • PACDC’s Member Services programming builds the capacity of CDCs through technical assistance and training, the sharing of ideas, best practices, and promotion of the local CDC industry.

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