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Building Affordable Now a Win-Win for Private Market Developers

Game-changing legislation passed by City Council last year makes building much needed affordable and workforce housing in Philadelphia a more profitable investment for private developers entering the market.

Bill No. 190606-AA established uniform procedures for the disposition of City property and amended the provisions governing the Land Bank (also see Exhibit A).

This month, BIA’s Affordable and Workforce Housing Committee hosted Angel Rodriguez for an overview of the changes and process. Mr. Rodriguez holds leadership roles at PHDC, the Philadelphia Land Bank, and the Philadelphia Redevelopment Authority.

Among the bill’s improvements, for-profit developers are now eligible for non-competitive bids for developments providing 51% of units for affordable housing (both for sale and for rent) and 49% at market rate.

Click here to download the presentation and access the recording using passcode 6.23.2020#Affordable to learn more.

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