A pilot program aiming to increase affordable housing in Philadelphia has hit some snags, with the developer reducing the proposed number of affordable units and neighbors expressing skepticism about the project.
the city is offering to lease the property for 99 years to Benchmark for a nominal sum — a total $20,000 for the first year. In exchange for the low rental fee, developers agree to build a set number of affordable units earmarked for residents earning 60% of the area median income.
Philadelphia Housing Development Corp. spokesperson Jamila Davis said this arrangement would guarantee the development’s 14 units stayed affordable for decades longer than other programs using traditional tax credits, which would allow units to rent at market value after 30 or 40 years. Some residents are worried the pilot is a Trojan horse that will bring few working-class families and accelerate gentrification.
“If we’ve learned from the pandemic it’s that natural spaces and getting outside is not only great for humans to enjoy that kind of fresh air, but it’s really good for the land with climate change and everything going on,” said Johnny Buckley, 44, who teaches in the neighborhood and has been bringing young students to the open space.Philadelphia's racial segregation in housing remains high
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