Mayor Nutter and the Redevelopment Authority of the City of Philadelphia are breaking ground on a multi-million dollar federal stimulus (HUD) project today at noon in Point Breeze. The project location is 17th and Federal. “This is a great example of how the City is using Federal stimulus dollars to create jobs and turn neighborhoods around,” former Redevelopment Authority director Terry Gillen, who shepherded the project while she was at RDA, told PlanPhilly Friday.
Project Fact Sheet
PROJECT: ADDRESS: 17th and Federal, 1626 -36 Federal Street, 1218-28 S. 17th Street
OWNER/DEVELOPER: Community Ventures
TOTAL DEVELOPMENT COSTS: $3,774,555
TOTAL CONSTRUCTION COSTS: $2,972,555
TOTAL NSP FINANCING: $3,774,555
SCOPE OF CONSTRUCTION: New Construction
PROJECT DESCRIPTION: Community Ventures (“CV”) is developing 11 new construction single family homes at 17th and Federal, Philadelphia, PA 19146. The project is situated on two assemblages of publically owned parcels in Point Breeze. All homes will be sold to individuals at or below 120 percent of Area Median Income. The land is currently vacant.
Of the eleven units, nine will contain 3 bedrooms, 2.5 baths and two units will contain 4 bedrooms, 2.5 baths. All units will achieve the Energy Star for New Homes Certification and have been designed to maximize passive heating and cooling techniques. All appliances, lighting and HVAC systems will be Energy Star labeled. Off street parking will be provided for seven units. The sales prices have been structured to meet a variety of income levels below 120% AMI. The sale of eight of the units will be targeted to households at or below 80% AMI; Three (3) units will be set at sales prices affordable to households at 120% AMI or below. Two of the eleven units will be accessible and one unit will be outfitted for a vision/hearing impaired household. NSP homebuyers are required to receive eight (8) hours of HUD-certified housing counseling prior to purchase.