FOR IMMEDIATE RELEASE
NOVEMBER 7, 2002

PHILADELPHIA, PA, USA(NOVEMBER 7, 2002) - MORE NEW HOMES ARE COMING TO NORTH PHILADELPHIA.

THIS TIME THE LOCATION IS THE SITE WHERE THE OLD CAMBRIDGE HIGH-RISE TOWERS ONCE STOOD. THE PHILADELPHIA HOUSING AUTHORITY (PHA) BROUGHT DOWN THE TOWERS IN AN IMPLOSION IN JULY 2001. NOW, THE RUBBLE HAS BEEN CLEARED AWAY AND TODAY, THE FIRST SHOVELS WENT INTO THE GROUND ON WHAT WILL BE A BEAUTIFUL COMPLEX OF TWINS, DUPLEXES, AND TOWN HOUSES.
WHEN ALL THREE PHASES OF THE NEW CAMBRIDGE DEVELOPMENT ARE COMPLETE, MORE THAN 120 HOMES WILL BE AVAILABLE TO LOW-INCOME FAMILIES.

PHA EXECUTIVE DIRECTOR CARL R. GREENE POINTS OUT THE SHARP CONTRAST TO THE MORE THAN 370 APARTMENTS THAT USED TO BE HOUSED IN THE TOWERS.

"WE NO LONGER PACK PEOPLE IN HIGH-RISE TOWERS THAT ARE SEPARATED FROM CITY SERVICES," SAID GREENE. "THE STYLE NOW IS TO OFFER LOW-RISE MODERN HOMES WITH ALL THE AMENITIES."

THE COST OF THE PROJECT, INCLUDING DEMOLITION OF THE OLD HIGH-RISE TOWERS, IS $29 MILLION. THE FIRST TWO PHASES WILL OFFER HOMES FOR RENT. PHA WOULD LIKE TO OFFER HOMES FOR SALE IN PHASE THREE. THAT REQUEST IS PENDING APPROVAL FROM THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD).

MAYOR JOHN F. STREET SAYS THE CHANGEOVER FROM THE HIGH-RISE "PROJECTS" OF THE PAST TO THE CONTEMPORARY PUBLIC HOUSING TODAY HAS IMPROVED THE QUALITY OF LIFE FOR TENANTS AND RESIDENTS OF THE SURROUNDING COMMUNITY. "EACH TIME WE SEE ONE OF THESE HIGH RISES FALL, WE ALSO SEE THE CRIME RATE IN THE NEIGHBORHOOD FALL, AND AS NEW HOUSES GO UP WE SEE PROPERTY VALUES IN THE NEIGHBORHOOD RISE AS WELL," SAID STREET.
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NEW HOMES REPLACE OLD CAMBRIDGE TOWERS/PAGE 2

THE NEW CAMBRIDGE DEVELOPMENT SITS IN THE SAME NEIGHBORHOOD AS ANOTHER PHA SUCCESS STORY, THE RICHARD ALLEN HOMES. THE TWO DEVELOPMENTS WILL SHARE A NEW HEALTH CLINIC AND COMMUNITY CENTER.
BARCLAY WHITE SKANSKA, INC., BASED IN BLUE BELL, PA, IS BUILDING THE NEW HOMES AT CAMBRIDGE.

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ABOUT PHA

PHA IS THE NATION'S FOURTH LARGEST PUBLIC HOUSING AGENCY SERVING MORE THAN 70,000 RESIDENTS. NATIONALLY RECOGNIZED FOR ITS INNOVATIONS IN PUBLIC HOUSING, PHA IS ALSO THE FIRST HOUSING AUTHORITY IN THE UNITED STATES TO BE DESIGNATED BY THE INSTITUTE OF REAL ESTATE MANAGEMENT (IREM) OF THE NATIONAL ASSOCIATION OF REALTORS AS AN "ACCREDITED MANAGEMENT ORGANIZATION." THIS DESIGNATION IS AWARDED TO FIRMS ENGAGED IN PROPERTY MANAGEMENT, WHICH HAVE MET IREM'S HIGH STANDARDS IN THE AREAS OF EDUCATION, EXPERIENCE, INTEGRITY AND FINANCIAL STABILITY.