The Philadelphia Housing Authority and its CEO Kelvin Jeremiah are on the verge of embarking on a $6.3 billion strategy to help address Philadelphia’s public housing challenges, writes Jake Blumgart for The Philadelphia Inquirer.
The goal is to overhaul all 13,000 of its existing properties, building 3,000 new units, and buy 4,000 additional units in private sector buildings to convert into affordable housing.
“We can’t just build to get ourselves out of the housing crisis; we have to preserve the existing portfolio,” said Jeremiah. “There isn’t going to be a savior. We’ve been waiting for one for the last 25 years, and they haven’t come yet.”
This marks the PHA’s most aggressive plan to expand and redevelopment for at least 60 years.
However, due to the current climate, many are skeptical about the agency’s ability to fulfill these goals.
Interest rates and construction material costs remain on the rise,
In addition, the Trump administration is looking to reduce the size of the Department of Urban Development (HUD) and cut programs like Section 8 vouchers, which PHA relies on.
Nonetheless, Jeremiah is optimstic and determined to address the housing challenges the city is facing.
Read more about the Philadelphia Housing Authority’s robust housing plan in The Philadelphia Inquirer.
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