The Philadelphia Housing Authority plans to develop 74 affordable homes on a vacant lot in the Fairhill neighborhood, featuring 61 senior apartments and 13 houses.
The Philadelphia Housing Authority is redeveloping a long-vacant site on the 100 block of East Clearfield Street in the Fairhill section of North Philadelphia. The project will include 61 deeply affordable, one-bedroom rental units for seniors aged 55 and older, alongside 13 houses for low- to moderate-income residents.
The development marks the agency's first major initiative in the 7th District, aimed at providing housing for individuals earning between 20% and 60% of the area median income for the apartments, and at or below 80% for the houses. PHA intends to support the homeownership component with up to $50,000 in downpayment and closing cost assistance, with additional subsidies potentially reducing final costs below $200,000 per home.
Senior Living Investment Brokerage arranges the $50.8 million sale of a six-property CCRC portfolio in Pennsylvania to Concordia Lutheran Services.
Pennrose completes the 55-unit Good Shepherd Senior Residences in Philadelphia's Overbrook neighborhood.
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