This latest phase of Sharswood Transformation Plan is in partnership with Hunt and Pennrose 

(Philadelphia, PA – September 28, 2022) 

The Philadelphia Housing Authority (PHA), Hunt Companies, Inc. (Hunt) and Pennrose LLC today celebrated the grand opening of Sharswood Crossing. Located at 21st and Master streets, the latest phase of the Sharswood/Blumberg Choice Neighborhood Initiative includes a four-story, 51-unit apartment building and nine three-bedroom townhomes. Hunt Companies/Pennrose LLC is the developer/owner.

These 60 homes are just the beginning of HuntPennrose’s commitment to the Sharswood community. The development team plans to build two other rental phases as well as 100 for-sale homes. The company is identifying small local developers with whom they can partner on the homeownership portion.

“PHA believes everyone deserves a decent place to live. When the transformation began, we made a pledge to transform Sharswood into a neighborhood of choice where all families would not only live but thrive. These homes represent that commitment,” said PHA President and CEO Kelvin A. Jeremiah. “We are grateful for all our likeminded partners like Hunt and Pennrose who have played a part of this neighborhood transformation.” 

“We’re proud to be here today celebrating another exciting milestone in the comprehensive Sharswood/Blumberg Choice Neighborhood Initiative and the next step towards PHA’s transformative vision for the community,” said Jacob Fisher, regional vice president at Pennrose. “As the city faces a housing affordability crisis, Sharswood Crossing will add much-needed, high-quality affordable housing in an area facing rapid gentrification.” 

“All Philadelphians deserve access to quality, affordable and safe housing,” said Mayor Jim Kenney. “The Sharswood development has continued to bring much-needed affordable housing to this community. The City is working with PHA in collaboration with neighborhood residents on critical community projects as part of the HUD Choice Neighborhoods Grant, which helps fund this project. We are proud of the work that is being done and looking forward to seeing the individuals and families enjoying their new homes.” 

“The 60 new apartments and townhomes that will break ground today is another important step towards affordable housing and accessibility for the Sharswood community in North Philadelphia,” said Council President Darrell L. Clarke, whose 5^th District includes the Sharswood/Blumberg Choice Neighborhood Initiative. “The people of Sharswood and North Philadelphia deserve this – clean, modern choices for affordable homes and apartments to live in. We’re grateful to the Philadelphia Housing Authority and all our partners for their work making these new, affordable places to live a reality.” 

Each unit has a unique spacious floor plans with spectacular city views, energy-efficient appliances, storage lockers and a community room with wide-screen TV. They feature Energy Star appliances and meet Enterprise Green Communities standards. Amenities include laundry facilities, a fitness center, on-site property management office, and covered parking. In addition, a new grocery store recently opened just a few blocks from the apartment complex.

Multifamily units average 650 square feet for one-bedroom units, 1,014 square feet for two-bedroom units, and 1,210 square feet for three-bedroom units. The nine townhomes are approximately1,250 square feet and contain three bedrooms. 

The total development cost was $24.5 million, PHA provided $4.7 million and 30 project-based vouchers. The development is now leasing; applications are being accepted. 

Six of the units will be restricted to 20% of the Area Median Income (AMI) or below, 25 units will be restricted to 50% AMI or below, 23 units will be restricted to 60% AMI or below, and six units will be set at 80% AMI to utilize Income Averaging.

Of the 60 units, 52% percent are restricted to 50% AMI or below. Eligibility depends on several factors, including the number of people in the household, the total annual household income, credit background screening, and other criteria. Thirty units will have Project-Based Vouchers, provided by the Philadelphia Housing Authority.

In addition to PHA funding, financing partners on this $24 million deal include the Pennsylvania Housing Financing Agency (PHFA), Bank of America, N.A., Lument, Freddie Mac, and the Philadelphia Housing Development Corporation (PHDC). In April 2020, PHA also received a $30 million Choice Neighborhoods Implementation grant from the U.S. Department of Housing and Urban Development in support of the entire Sharswood initiative. 

Since work began on the Sharswood Transformation Plan in 2016, nearly half of the planned 1,200 units are complete or under construction. 

In addition to this phase of housing, construction continues at Sharswood Ridge, a mixed-use development on the Ridge Avenue commercial corridor that will feature a bank and an urgent care center, in addition to a grocery store. PHA is also building a new warehouse in Sharswood, to store equipment and vehicles that it uses to maintain its properties. The warehouse is replacing a facility near the airport the agency sold earlier this year. 

For Sharswood Crossing leasing, please contact [email protected] or 267-550-5371. Additional information is also available at https://www.pennrose.com/apartments/pennsylvania/sharswood-crossing/. 

Two factors — aging housing stock and the impending expiration of thousands of affordable housing contracts — have already begun to converge in our city.

INQUIRER.COM

Kelvin A. JeremiahUpdated Sep 22, 2022

The affordable housing crisis in Philadelphia is facing a perfect storm that threatens to make things even worse for people looking to find a safe place to call home.

Two harsh realities — the failure to maintain an aging housing stock and the impending expiration of thousands of affordable housing contracts — have already begun to converge in our city.

The dire situation at the University City Townhomes is the latest example of how these forces have come together in Philadelphia. The outrage that we all witnessed there was also present in the encampments on the Benjamin Franklin Parkway and right next door to our offices here at the Philadelphia Housing Authority. But make no mistake: The affordable housing emergency that we’re facing did not start with these events, and it did not end once the city’s collective attention turned to other matters.

Quite frankly, the problem is only escalating. Because of expiring affordable housing contracts with private owners, the city estimates that there are 14,500 households that could face the same fate as the residents of the University City Townhomes over the next decade. As those contracts come to an end, the owners can exercise their right to opt out of continuing to provide affordable housing, and many are doing just that: turning once-affordable units into market-rate developments — which could mean another 14,500 families facing eviction.

Then there are the more than 60,000 households in Philadelphia who must wait years for a housing voucher or for a spot in public housing — and that figure represents only a fraction of the real need. The National Low Income Housing Coalition cites the need for more than 260,000 affordable rental homes for households earning less than 30% of the area median income in Pennsylvania alone and a staggering seven million homes nationwide.

Let us not forget that rapidly rising inflation and the looming potential for an economic recession will make the problem much worse, especially for low-income residents.

As the largest affordable housing provider in the city, we at PHA are taking the lead on trying to address each of these factors. But activists, developers, nonprofits, our agency, and the city need to work together on a multitude of fronts. When officials in Houston moved 25,000 people who were living on the streets into homes, they did it through collaboration: More than 100 agencies in the city — homeless advocates, churches, food banks, the housing authority, and many others — joined a collective effort that has resulted in a sharp turnaround.

Here at PHA, we are working with the Preservation Network — a collection of more than 40 community partners — to preserve the city’s existing affordable housing stock. The collaboration has included working with the city to establish a “Housing Accelerator Fund” to finance the acquisition and rehabilitation of affordable housing and to provide working capital when feasible.

PHA is also focused on programs like the U.S. Department of Housing and Urban Development’s Rental Assistance Demonstration program and housing choice vouchers. Through those efforts and federal housing tax credits, our agency has generated over 7,000 housing opportunities and leveraged over $1.36 billion in private and public funding over the last decade.

We have also instituted a program that provides bonuses to landlords who agree to rent to residents who have housing choice vouchers, as residents with vouchers can find it difficult to get landlords to accept vouchers and rent to them. Through a community outreach initiative, our agency has brought more than 500 new landlords into the program during the last year.

While I am proud of these developments, enormous challenges lie ahead, and so much more work is needed. For example, public policy decision-makers must ensure that, where public funds are used to subsidize affordable housing developments, the government has a fundamental right of first refusal should a developer decide to “opt out” of long-term subsidy contracts, as with the University City Townhomes. With this in place, the city could purchase affordable housing stock from developers and save it from getting replaced by market-rate developments.

The time is now to be intentional and coordinate housing strategies across multiple levels, while also promoting the value of public-private partnerships so we can tackle the housing crisis head-on and successfully weather the storm to come.

Kelvin A. Jeremiah is the president and CEO of the Philadelphia Housing Authority.

https://www.inquirer.com/opinion/commentary/philadelphia-affordable-housing-crisis-20220922.html

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