For now, it’s unclear when the development may be completed, but the corporation is optimistic about securing funding for the project given its timing.
In the coming days, Mayor Cherelle Parker’s administration will issue $400 million in bonds to fund the first phase of the Housing Opportunities Made Easy, or H.O.M.E., initiative. The plan is centered on creating and preserving 30,000 homes in Philadelphia.
Najja Orr, PCA president and CEO, is a member of the initiative’s advisory council.
At the same time, Pennsylvania Gov. Josh Shapiro’s administration has launched the state’s first-ever Housing Action Plan. The effort calls for a $1 billion “critical infrastructure fund” to build and protect homes across rural, suburban and urban communities.
On Thursday, Secretary of Aging Jason Kavulich toured the project site with PCA staff.