Habitat for Humanity Philadelphia

Philadelphia,
PA
(2021)

Habitat for Humanity Philadelphia

Affordable Housing, Habitat for Humanity

PHILADELPHIA HABITAT is using NMTC financing to construct the Oxford Commons Phase I and 40th Street row home projects.

Investment

NMTC Amount: $1,886,027
Total Project Cost: $5,893,301

IMPACT

26 construction jobs
22 new homes

CDEs

Habitat for Humanity

Investor

US Bank

Voices from the Community

NMTC are a tool that Habitat affiliates can use for creation of affordable housing. Currently Habitat Phila. is utilizing NMTC to provide funding for the construction of a 21-unit new, green homeownership development for households making between 30-60% AMI.

-Carrie Rathmann, Habitat for Humanity Philadelphia, Philadelphia, PA

Project Description

PHILADELPHIA HABITAT is using an $1.85M loan to construct the Oxford Commons Phase I and 40th Street row home projects. Both projects are being developed on vacant land acquired through the Philadelphia Land Bank. This phase of Oxford Commons is comprised of 10 green new homes that will be the first phase of an overall 22-unit development built by the affiliate. The 40th Street Rowhomes project is comprised of 4 newly constructed, green homes built on vacant lots in West Philadelphia. Both projects will be designed in context to the existing surrounds and urban fabric.