Last week, city officials announced an ambitious new plan to increase Philadelphia's stock of affordable housing. The initiative involves using tax incentives and bond proceeds to redevelop 1,500 vacant, city-owned properties over the next two to three years. In a city with many rapidly-gentrifying neighborhoods, thoughtful planning aimed at low-to-middle income residents is crucial.
The New York Times covered the plan, lauding its utilization of novel resources:
But Ms. Poethig said the Philadelphia plan was distinctive in that it would contribute city-owned land, because there had been a “robust” analysis of the economic benefits and because the city’s construction unions had agreed to reduce their rates for the project.
“I’m most encouraged by the fact that they want to use their own land rather than just relying on federal and state resources,” Ms. Poethig said.
One thousand of the housing units in the plan would be for rent; the remainder would be for sale. Philadelphia is in a strong position to ease its shortage of affordable housing because of its large stock of about 9,000 vacant, city-owned properties, and because of its access to untapped federal tax breaks that can be used for the project, officials said.
The properties would be aimed at households whose incomes are 80 to 120 percent of the area’s median income.
"Low-income housing is in strong demand in Philadelphia, where 26.9 percent of the population of 1.5 million lives at or below the federal poverty line," adds
The Times. "For every 100 households classified as extremely poor, there are only 37 affordable rental units available, and there are 110,000 families on a waiting list for public housing, according to city figures."
The
recently-passed Land Bank legislation was designed to enable just this sort grand civic project. The city now has far fewer barriers when it comes to utilizing vacant land in creative ways.
For more on the plan, including some interesting questions and concerns, check out these stories in
PlanPhilly and
Next City.
LEE STABERT is managing editor of Flying Kite Media and Keystone Edge.