Paseo Verde

Philadelphia,
PA
(2012)

Paseo Verde

Adult Education, Affordable Housing, Brownfield Remediation, College or Vocational Training, Community, FQHCs, Healthcare, Housing, Mixed-use, Office, Retail, Retail and Commercial, Transit Oriented Development, Workforce Housing

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

CDEs

Building America CDE, Corporation for Supportive Housing, Local Initiatives Support Corporation, WNC National Community Development Advisors

Investor

Chase

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

Other Pennsylvania Projects

Don Pedro Meats and Market

Philadelphia,
PA
(2018)

Business Development, Food Manufacturing, Grocery and Fresh Food, Manufacturing, Mixed-use, Mixed-use and Commercial, Retail

CDE(s): PIDC Community Capital

Financing for a meat market to relocate to a larger location.

West Philadelphia Institute

Philadelphia,
PA
(2019)

Adult Education, College or Vocational Training, Community, Healthcare, Historic Rehabilitation, Library, Retail, Vocational Training

CDE(s): PIDC Community Capital

This project involved the historic renovation of a 3-story, sq. ft. commercial office building.

Powel Elementary School and Science Leadership Academy Middle School

Philadelphia,
PA
(2019)

Community, Schools

CDE(s): Building America CDE, Local Initiatives Support Corporation, PIDC Community Capital, PNC

To expand educational opportunities for children and support families in West Philadelphia, Drexel University undertook the challenge of expanding the capacity and improving the facilities of two existing neighborhood public

University Crossings

Chester,
PA
(2013)

Business Development, Mixed-use, Retail

CDE(s): The Reinvestment Fund

Part of a larger initiative by Widener University to invest in its community, University Crossings is a state-of-the-art mixed-use development adjacent to its Chester, PA campus.