RHLS congratulates Community Ventures for their third Blue Ribbon Award from the Philadelphia Association of Community Development Corporations (PACDC). They worked through the pandemic to complete Susquehanna Square within budget, a 37-unit affordable housing development that includes dedicated homes for grandparents caring for their grandchildren as well as homes for people who have been experiencing homelessness.
RHLS Director of Economic Development, Laura Schwartz, provided legal representation through RHLS’s affiliate Community Housing Legal Services to Community Ventures for much of the development process. Community Ventures is just one of RHLS’s clients working to increase the supply of affordable housing and curb displacement of low-income Philadelphians of color from gentrifying neighborhoods.
Susquehanna Square is a collaborative venture that includes financial support from the City of Philadelphia, the Philadelphia Housing Authority, the Pennsylvania Housing Finance Agency, and the Federal Home Loan Banks of Pittsburgh and New York along with a permanent loan from Community Lenders. Community Ventures has been working with both Philadelphia City Council President Darrell Clark and Grands as Parents, Inc., a local neighborhood organization that supports and advocates for grandparent-headed households.
“We are thankful for RHLS’s vast experience with affordable housing legal services. RHLS helped Community Ventures navigate through our first 4% LIHTC project, which was coupled with RAD-based operating subsidies and six other permanent financing sources,” said Troy Hannigan, Program Director with Community Ventures. “RHLS was a critical partner for the successful completion of Susquehanna Square and we look forward to working with them again on our next project.”
The new housing is located near Temple University. Temple’s strategy of buying nearby property and expanding both its academic buildings and student housing, along with increased student-focused private-market development, has seriously impacted this lower North Philadelphia neighborhood. The university’s expansion has pushed long-time residents further away from the prime real estate of the Broad Street commercial corridor, with its public transportation networks and amenities like supermarkets, playgrounds, and movie theaters. The result has been a scarcity in safe affordable housing; Susquehanna Square will allow long-term residents to remain in the neighborhood.
The Susquehanna Square residences will serve individuals and families living below 60 percent of the Area-Median Income (AMI). The total project is three buildings covering nearly 39,000 square feet. The homes are Energy Star and Enterprise Green Communities-certified, and one building has a green roof, which will lower utility expenses for residents and assist with stormwater management. The building facade was designed to have a similar aesthetic to the quintessential Philadelphia brick rowhome. In addition, the building at North 16th & Diamond Streets was rebuilt to replicate an original design on the site by renowned Philadelphia architect, Frank Furness.
Read more about the groundbreaking of Susquehanna Square on the Community Ventures website, with comments from Anne Fadullon, Director of the Department of Planning and Development, and City Council President, Darrell L. Clarke.
Congratulations to Community Ventures on this well-deserved honor!