Shovels Up in Sharswood: With Spring comes more housing development in Sharswood as The Michaels Organization, in conjunction with the Philadelphia Housing Authority (PHA), broke ground on a new development this week and announced plans to renovate existing townhouses. From left are: From left are Jannie Blackwell, Milton Pratt Jr., Michaels Organization Executive Vice President of Development; PHA President and CEO Kelvin A Jeremiah; Michaels Organization CEO John O’Donnell; John Paone PHFA Board Member, State Rep. Donna Bullock; City Council President Darrell L Clarke; Aissia Richardson; and Michaels Vice President Andrew Davenport.

Michaels Organization and Philadelphia Housing Authority Expand Affordable Housing

Sharswood Townhouses Will Undergo Major Rehabilitation, While a New Affordable Rental Community Will Be Built Nearby

Contacts: 
For The Michaels Organization:

Laura Zaner: lz****@tm*.com; 856-988-5083; 856-630-1540

For PHA:

Nichole Tillman: Ni*************@ph*.gov; 215-888-2869

Philadelphia, March 22 — The Michaels Organization, in conjunction with the Philadelphia Housing Authority (PHA), announced today that it is set to break ground on a new affordable rental housing community in the Sharswood neighborhood of Philadelphia. At the same time, Michaels is rehabilitating an affordable housing community in Sharswood that it has owned and managed since developing the community 23 years ago.

Both efforts are part of the PHA Sharswood Blumberg Choice Neighborhoods Transformation Plan.

“We are excited to reinvest in our Sharswood Townhouse community, preserving this critical affordable housing resource for Philadelphia families while creating new affordable housing opportunities in this rapidly changing community,” said Michaels Vice President Andrew Davenport, who is serving as the lead developer on both the renovation as well as the new development. “We are also grateful to the Philadelphia Housing Authority (PHA) and the Philadelphia Housing Finance Agency (PHFA) for their support in bringing new additional affordable housing to this neighborhood.”

“Sharswood is taking yet another important step forward,” said Kelvin A. Jeremiah, President and CEO of PHA. “To remain affordable, Philadelphia will need comprehensive plans to repair and renovate existing housing units and communities. This plan preserves affordable housing while adding contemporary units that provide residents seeking to live in Sharswood with desirable housing options. I want to thank Michaels for their commitment to affordable housing and to this community.”

“We’re proud to celebrate and support the rehabilitation of existing affordable homes in the Sharswood, and the construction of dozens of new affordable homes as well,” said Council President Darrell L. Clarke, whose 5th Council district includes Sharswood. “With every development, every groundbreaking and ribbon cutting, PHA and all our committed partners, we are reinvesting in a proud, historic neighborhood community in Sharswood in the heart of North Philly. It’s a terrific day.”

Project details: Sharswood Townhouses, located at 1450 N 21st Street in North Philadelphia, was first developed by Michaels in 2000. The community features 71 apartment homes affordable to households earning 60 percent or less of the Area Median Income. The community will be completely renovated, with major building upgrades for long-term sustainability, as well as interior and exterior improvements. These units will be preserved as affordable housing for the residents for decades to come.

In conjunction with the renovation work, Michaels will develop a new community offering 43 affordable rental units on vacant land next door to Sharswood Townhouses. The new community will offer two- and three-bedroom apartments to be developed across 24 stacked flat and townhome-style buildings. A total of 12 fully accessible units will be created  — four at Sharswood Townhouses and eight in the new community. The new development will also feature a community room, offices for on-site management, and an expanded common laundry facility, which residents of both communities can use.

Construction is expected to be completed in March 2024.

Financing: Completing the rehabilitation and new construction work in one development phase allowed for innovative financing for this $33 million project. The majority of the funding is sourced from federal Low-Income Housing Tax Credits, allocated by PHFA, which raised more than $13 million in private equity. In addition to the tax credits, PHFA provided $5.8 million in permanent debt and the PHA provided a $3.5 million soft loan. The development also benefits from nearly $6.2 million in funding from the City of Philadelphia.

 

Urban Practice is serving as the Architect and Michaels Construction is serving as the General Contractor. Berkadia syndicated the tax credits. Michaels Management will provide property management services, ensuring that both communities remain long-term neighborhood assets.

About The Michaels Organization:

The Michaels Organization is a national leader in residential real estate, offering full service capabilities in development, property management, construction, and investment management. Serving more than 175,000 residents in more than 450 communities across 37 states, the District of Columbia, and the U.S. Virgin Islands, Michaels is committed to crafting housing solutions that jumpstart education, civic engagement and neighborhood prosperity and to creating Communities That Lift Lives.

About the Philadelphia Housing Authority:

The Philadelphia Housing Authority’s mission is to open doors to affordable housing, economic opportunity, and safe sustainable communities to benefit Philadelphia residents with low incomes. To learn more visit www.pha.phila.gov.

A Golden Opportunity: On February 28, 2023, the Philadelphia Housing Authority held a grand opening for Harrison Plaza Senior Tower, a newly renovated building of affordable housing for seniors. From left, PHA Board Chair Lynette Brown-Sow; Gwendolyn Boyd-White, daughter of PHA honoree Christine Boyd; Darrell L. Clarke, City Council President, Cynthia Boyd; Adrianne Todman, Deputy Secretary of HUD, and far right, Kelvin A. Jeremiah, President and CEO of PHA.

Harrison Plaza Senior Tower is Remade, Bringing a Promising Future, And Transforming a Tower of Aging Public Housing

 

 

Media Contact:
Nichole Tillman, 215-888-2869
ni*************@ph*.gov

(Philadelphia, PA – February 28, 2023) – The Philadelphia Housing Authority (PHA) today celebrated the preservation and renovation of Harrison Plaza Senior Tower, a 15-story high rise that offers seniors an affordable, comfortable and secure living experience.

The building, located at 10th & Master Streets, features energy-efficient appliances, and units with grab bars and other life safety features that offer older residents peace of mind. In addition to the complete redesign of the residential units and ground floor, the exterior of the building has been significantly renovated, including repointing of the entire building, selective brick and sill replacement, and new insulated aluminum and glass awning windows.

“This newly renovated building allows Philly seniors to age well, and, with dignity. PHA preserved a 67-year-old landmark and, in doing so, transformed an aging tower of public housing in urgent need of costly repairs,” said Kelvin A. Jeremiah, President and CEO of PHA. “Low-Income Housing Tax Credits were crucial for this transformation. They are critical to address preservation, development and redevelopment goals.”

“Harrison Plaza is a wonderful example of how federal, state, and local leaders can create high-quality and affordable homes,” said Adrianne Todman, HUD’s Deputy Secretary. “Through HUD’s Rental Assistance Demonstration process, Philadelphia’s local housing authority was able to modernize and preserve an elemental property in the heart of the city. The impact of our collective work will certainly be felt by the seniors who live here and for those seniors seeking an affordable place to live in the future.”

The new Harrison Plaza Senior Tower, a 4 percent Low-Income Housing Tax Credit gut renovation, has a total of 116 units, consisting of 104 one-bedroom and 12 two-bedroom units, a community room with an outdoor patio, health screening room, management and maintenance offices, a common laundry, and a 15-space parking lot.

Congressman Dwight Evans (D-PA-3) said, “I’m pleased to see this 116-unit building preserved and renovated, and I’m optimistic that the major affordable-housing investments we passed in the last two years under President Biden’s leadership will result in more progress for Philadelphia!”

“We’re proud to support the preservation and renovation of the Harrison Plaza Senior Tower for our senior citizens who need safe, modern and affordable housing,” said Council President Darrell L. Clarke. “This is also a project that makes sense – renovating existing housing stock where possible, as opposed to always relying on new construction, which is more costly. We’re delighted to work with our strong partners at the Philadelphia Housing Authority and Kelvin Jeremiah in support of this renovation for senior citizens.”

PHA converted the Harrison Plaza to Project Based Voucher (PBV) assistance under the Rental Assistance Demonstration (RAD) Program. One of the major benefits of RAD conversion is that it enables leveraging of new financial resources to improve living conditions and address the long-term capital needs of public housing developments either through renovations to existing buildings or the development of new replacement housing units.

The total development costs are approximately $48 million, which includes a $6 million acquisition cost of the building, and construction costs of approximately $37 million. Perryman Shoemaker was awarded the construction management contract.

Angelo Perryman, President and CEO 
of Perryman Construction, and Maura Hesdon, General Manager of Shoemaker Construction Co. said, “Perryman Shoemaker is proud of our work with PHA to transform the Harrison Plaza tower into a safe, modern, and comfortable home for senior residents in North Philadelphia.”

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 About the Philadelphia Housing Authority:
The Philadelphia Housing Authority’s mission is to open doors to affordable housing, economic, opportunity, and safe sustainable communities to benefit Philadelphia residents with low incomes. To learn more visit www.pha.phila.gov.

About Perryman Shoemaker:
Perryman Shoemaker has proudly served the Greater Philadelphia Area since 2004. Both founding firms are multi-generational family businesses, with a combined 140+ in the construction industry. Their areas of building construction expertise include apartments and multi-family, K-12 schools, retail, parking garages, hospitals and healthcare facilities. Perryman Shoemaker is a nationally certified MBE firm.