PHA ACQUIRES TWO MULTI-FAMILY PROPERTIES TO PRESERVE AND EXPAND AFFORDABLE HOUSING

PHA on May 14, 2025

For Immediate Release: May 14, 2025

Contact: Nichole Tillman, [email protected], (215) 888-2869

PHA ACQUIRES TWO MULTI-FAMILY PROPERTIES TO PRESERVE AND EXPAND AFFORDABLE HOUSING 

Acquisitions, part of PHA’s ‘Opening Doors’ Initiative, include units that were at risk of losing affordability requirements.

 

(Philadelphia, PA – May 14, 2025) – The Philadelphia Housing Authority (PHA) announced today that it has acquired an expiring affordable development in the Grays Ferry neighborhood and an expansion development in the Port Richmond neighborhood, as part of its ongoing commitment to preserve and expand Philadelphia’s affordable housing stock.

“Our mission to provide quality, affordable housing for all Philadelphians continues with these two purchases,” said PHA President & CEO Kelvin A. Jeremiah. “The demand for affordable housing is greater than ever and far surpasses the supply. Our ‘Opening Doors’ initiative is focused on expanding PHA’s inventory of affordable units in more modern mixed-income developments and preserving units that are at risk of moving to market rate. These purchases in two important neighborhoods of Philadelphia are perfect examples of that approach. PHA will continue to explore cost effective opportunities to preserve and expand affordable housing opportunities consistent with Mayor Parker’s H.O.ME. Initiative.”

“As my administration works with City Council to enact our $2 Billion H.O.M.E. program, I applaud PHA for continuing its complementary effort to expand and preserve its housing portfolio,” said Philadelphia Mayor Cherelle L. Parker. “I’m particularly thrilled for the Port Richmond and Grays Ferry communities, which—like many Philadelphia neighborhoods—have a tremendous need for affordable housing. PHA’s latest acquisitions will help to address those needs.”

“These PHA acquisitions are a major step forward in our fight to preserve and expand affordable housing in neighborhoods like Grays Ferry,” said Philadelphia City Council President Kenyatta Johnson. “As Councilmember for the Second District, I’ve long advocated for equitable development that keeps residents in the communities they’ve helped build. These investments will help protect our seniors, working families, and longtime neighbors from displacement, ensuring that more Philadelphians have a safe, stable, and affordable place to call home.”

“I am excited about this mixed income project. Growing our city’s affordable housing stock, while maintaining housing opportunities for our long-time community residents, has been a priority for me,” said Councilman Mark Squilla (First District).

The acquisitions are:

  • Somerset Station in Port Richmond: This acquisition consists of a newly constructed multifamily residential development located at 2230 E. Somerset Street, containing 187 residential units; and a second unit at 2248 E. Somerset Street with 11 townhomes containing 33 residential units. The purchase price is approximately $58 million.
  • Birchwood at Grays Ferry, previously referred to as St. Anthony’s Senior Residence: This acquisition at 2309-33 Carpenter Street consists of a former repurposed school converted into 38 public housing units for seniors and 15 adjacent townhomes. The purchase price was $5.8 million. (This acquisition closed on April 10, 2025).

The 15 townhomes that are part of the St. Anthony’s acquisition have affordability restrictions set to expire in 2030. Under PHA’s ownership, their affordability will be preserved.

PHA’s move also aligns with Mayor Cherelle Parker’s priority of creating and maintaining Philadelphians’ access to housing under her H.O.M.E. initiative, which has a goal of building or maintaining 30,000 units of housing through a combination of initiatives and expansions of existing programs.

To date, PHA has acquired a total of 1,315 new units under the “Open Doors” initiative. Previous PHA acquisitions under its “Opening Doors” initiative include:

  • Brith Sholom House is a high-rise senior housing complex consisting of 360 units. Situated in the Wynnefield Heights neighorhood, it was in foreclosure and in serious disrepair at the time of acquisition. PHA is relocating current residents to available units in the surrounding area and undertaking an extensive rehabilitation of the property.
  • The Dane Apartments is a high-rise building consisting of 231 units, including studio, one-bedroom, and two-bedroom floor plans. The development is located just off City Avenue in the Wynnefield neighborhood.
  • The Greene Manor Apartments in Mount Airy consists of 4 buildings with a total of 381 units ranging from studios to three-bedroom apartments.
  • The Legacy at Powelton Village consists of 40 units, including one to three-bedroom apartments. It is situated a short distance from Drexel University.
  • UCity Flats, located in the University City neighborhood, has 44 four-bedroom units, which were previously designated as student housing. PHA plans to convert these units into two- and three-bedroom apartments.

 

PHA extends its appreciation to Secretary Scott Turner and his staff at the Department of Housing and Urban Development, Mayor Cherelle Parker, Philadelphia City Council President Kenyatta Johnson, Councilman Mark Squilla, and Robin Wiessmann of PHFA and her team, for their continued support of affordable housing initiatives.

 

About 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.

 

 

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