A MILESTONE FOR EQUITY: PHA SECURES ITS FIRST-EVER CENTER CITY PROPERTY
Community leaders, public officials, and project partners break ground on the $27 million, 63-unit affordable senior housing development at 20th Street and Cecil B. Moore Avenue in North Philadelphia.
A MILESTONE FOR EQUITY: PHA SECURES ITS FIRST-EVER CENTER CITY PROPERTY
Transformation of Former Headquarters Site Delivers 121 New Homes in PHA’s Historic First Residential Property in Center City
PHILADELPHIA, PA (November 6, 2026) — The Philadelphia Housing Authority (PHA), in partnership with Alterra Property Group and RHEAL Capital Management officially broke ground on a Twenty-Twelve, a $65 million, 14-story mixed-income development at 2012 Chestnut Street. Marking a historic milestone as PHA’s first residential property in Center City, the initiative transforms a long-vacant lot, formerly the site of PHA’s administrative headquarters, into a vibrant residential community in the heart of Center City.
The development features 121 apartments along with approximately 2,000 square feet of ground-floor commercial space. This development further presses PHA’s commitment to housing affordability, 60 percent of the apartments will be reserved for working families earning up to 80 percent of the Area Median Income (AMI), roughly $78,500 for a two-person household. The remaining 40 percent will rent at market rate.
Designed with a historic masonry façade and modern interiors, Twenty-Twelve offers residents a rooftop terrace, a fitness center, and technology-enabled meeting rooms on every floor.
“No place should be off limits to our residents,” said Kelvin A. Jeremiah, President & CEO of PHA. “In a way, this is a homecoming. PHA comes home to Chestnut Street, no longer as a place of business, but as a place of belonging. We’re offering 121 new homes for our residents in our first apartment property in Center City, putting affordable, high-quality housing where jobs, transit, and opportunity connect.”
This $65 million investment will create hundreds of local construction jobs and trade contracts as site work progresses. Alterra Property Group will build and manage the property under a 99-year ground lease structure with PHA.
The development team includes site contractor John J. Dougherty & Son, general contractor Hunter Roberts Construction Group, and design firm JKRP Architects.
“Admittedly, the road to get here faced its share of hurdles, nearly two decades of vision, redesigns, and navigating federal approvals,” Jeremiah added. “But every approval is in hand, excavators are on-site, and work is officially in full swing.
Construction is currently underway on-site, with foundation work now in progress.
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About the Philadelphia Housing Authority:
PHA is the nation’s fourth-largest housing authority, serving nearly 80,000 residents in the City of Philadelphia. PHA is committed to providing safe, decent, and affordable housing while offering programs that lead to economic self-sufficiency.
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