Philadelphia, PA (2012)

Paseo Verde

A $48.2M mixed-use, transit-oriented, green development in Philadelphia's Ludlow community - a low-income, distressed neighborhood currently undergoing a revitalization drive fueled by strong public and private collaboration.

Investment

  • NMTC Amount: $29,050,000
  • Total Project Cost: $31,834,531

IMPACT

  • 39 FTE jobs
  • 150 construction jobs
  • Project includes a Federally Qualified Health Center.
  • 30,000 sq. ft. of real estate

Investor

Project Description

Paseo Verde is a $48.2 million mixed-use, transit-oriented, green development in Philadelphia’s Ludlow community – a low-income, distressed neighborhood currently undergoing a revitalization drive fueled by strong public and private collaboration. The multi-building development features 120 units of affordable and workforce housing. Fifty-three units are affordable to families with household incomes between 20% and 60% of the area median income (AMI). The other 67 units are targeted to low-income families making less than 100% of AMI. The project’s 30,000 sq. ft. of commercial and retail space include a primary care health facility, pharmacy, and social services office. The 1.9-acre brownfield site is located directly adjacent to the Temple University Regional Rail train station.

MAP

Address: 1900 North Nineth Street, Philadelphia, PA 19122

Census Tract: 42101037700

PDF Profile

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