PHILADELPHIA (KYW Newsradio) — The Philadelphia Housing Authority gathered with commercial partners and city leaders on Friday morning for a groundbreaking ceremony of their latest affordable rental housing development in the Sharswood section of North Philadelphia.
Sharswood Crossing will consist of mostly two- and three-bedroom townhomes in the once-desolate and abandoned area of the neighborhood. PHA President and CEO Kelvin Jeremiah says these units are a long time coming — and another step toward chipping away at the need to place families in affordable homes.
“Every one of these units are needed,” Jeremiah said, “but keep in mind, these are only 59 — but there are 30,000 on our waiting list, waiting for one of these units.”
The building comprises a single one-bedroom apartment, 28 two-bedroom apartments and 30 three-bedroom townhouses. Occupancy for 10% of the 59 units will be restricted to people within 20% of the area median income (AMI) or below, 44% will be restricted to people within 50% of the AMI or below, and 46% will be restricted to people within 60% of the AMI or below.
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Two years ago, PHA received a $30 million Choice Neighborhoods Implementation grant from the U.S. Department of Housing and Urban Development, in support of the Sharswood initiative. Since work began on the Sharswood Transformation Plan in 2016, 140 brand-new single-family rental homes have been completed, as well as renovations of Sharswood Tower and the Brigadier General Hazel Johnson Brown Veterans Center.
Darnetta Arce, executive director of Lower North Philadelphia Community Development Corporation, says local residents worked with officials to see this come to fruition.
“This is a community. Whether you’re a renter or a homeowner, you are part of this community. You pick your home for a reason, for the same reason that someone buys. You pick what you can afford, the amenities and what you’d like to see,” Arce said.
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Meanwhile City Council President Darrell Clark said this is a much needed step for Philadelphia, as the 5th District transforms this section of the city one development at a time.
“Affordable housing is at a crisis right now — in the country, not only the city of Philadelphia. The market rate is at an unprecedented level, but the bottom line is that more people than not are not able to afford the developments that are being built in the city,” said Clarke.
Thirty units will have project-based vouchers, provided by PHA, with rents set at 110% of fair market rents. Hunt/Pennrose is the co-owner and co-developer, with Pennrose Properties leading the development phase. Completion is expected in May of 2023.