On Thursday, Philadelphia City Councilmember Jamie Gauthier will introduce a legislative package designed to protect low-income tenants and homeowners against displacement while providing more funding for affordable housing projects.
The new building, which is expected to be completed in 2026, will be eleven stories and house the company headquarters, additional office spaces, and 136 apartments, including a penthouse level.
The Philadelphia real estate market poses stark challenges for first-time home buyers, from low home supply to high competition, price inflation and rising mortgage rates. The popular Philly First Home program will resume giving out grants of up to $10,000 to help first-time buyers with down payment assistance costs, creating new pathways to home ownership. City planners and developers face difficult questions about affordable housing, new home construction, neighborhood preservation, gentrification, and the rising cost of apartment rentals for low- and middle-income residents. This in-depth Philadelphia real estate guide examines the city's housing landscape, policy challenges, community concerns and how strategies such as public land disposition could shape the city's future.
To: Ballard Spahr Real Estate Clients and Colleagues The Ballard Spahr Zoning and Land Use Team continues to monitor all aspects of the Philadelphia land use approval pro.