PHA Partners with Jumpstart Philly for Neighborhood Transformation
Partnership Promotes Rehabilitation, Affordable Homeownership, Entrepreneurship
(Philadelphia, PA – February 10, 2021) – The Philadelphia Housing Authority (PHA) has joined with Jumpstart Philly to eliminate blight while also offering affordable homeownership opportunities.
Jumpstart Philly, a community development program spearheaded by Germantown based developer Philly Office Retail, provides training, mentoring, networking and financial resources to local aspiring developers. The houses rehabbed through the partnership will be sold to people whose incomes are less than 80% of Area Median Income (AMI). That’s about $62,000 for a family of four. Participants in PHA’s homeownership program will have the first opportunity to buy the homes.
“We are thrilled to enter this partnership that will stimulate reinvestment in neighborhoods that need it.,” said PHA President and CEO Kelvin A. Jeremiah. “This cooperative effort will increase the capacity of local residents to improve their communities by providing affordable homeownership opportunities while mitigating the effects of gentrification.”