Philadelphia LISC issued a Request for Proposals (RFP) to provide funding to non-profit community-based organizations to further advance the preservation of affordable housing and mixed-use development in the City of Philadelphia. LISC is announcing $332,000 in recoverable grants (roughly $50,000 each) for predevelopment activities associated with the following affordable housing preservation and mixed-use development projects.
LISC has committed a $50,000 recoverable grant to People’s Emergency Center CDC for predevelopment activity related to the Imani Homes Preservation Project. Funds will be used for architectural design, environmental and capital needs assessments. The project is located within the SCI-West neighborhood, which is within a federally designated Promise Zone. The project will preserve five affordable rental housing developments that were completed by PEC CDC over the past two decades. The scattered-site developments total 55 units in 30 row homes across several neighborhoods. Improvements include energy efficiency upgrades that will ensure the long-term affordability of units in a neighborhood facing rising housing costs. PEC plans to secure and close on permanent financing, including low income housing tax credits by September 2018.
Total Development: $11.3 Million
LISC has committed $50,000 in a recoverable grant to Mt. Vernon Manor CDC for the Mantua Gardens East Preservation project, located in Mantua and a part of the Promise Zone. The redevelopment of Mantua Gardens East is expected to preserve 29 units of affordable rental housing in a neighborhood facing market pressures and rising housing costs. LISC funds will be used to complete predevelopment activities, such as architectural design, environmental assessment, and a market study, to advance feasibility and secure permanent funding. Mt. Vernon Manor CDC is currently securing permanent funding to complete the project and expects to start construction in early 2018.
Total Development: $2.2 Million
LISC has committed a $50,000 in a recoverable grant to Women’s Community Revitalization Project (WCRP) for predevelopment activity related to the Lillia Crippen Townhomes Preservation project. The project is located in SCI Eastern North, comprised of two developments, and includes a mix of townhomes and apartments totaling 46 units for low-income women and their families. Originally constructed over 15 years ago, WCRP intends to substantially renovate the two developments for systems upgrades, energy efficiency, and continued affordability. LISC funds will help pay for following predevelopment activities: market study, environmental investigation, energy audit, appraisal, capital needs assessment, and architectural services. WCRP anticipates securing and closing on permanent financing for the project, including low-income housing tax credit equity, by June 2018.
Total Development: $11.3 Million
LISC has committed $32,000 in a recoverable grant to Allegheny West Foundation for predevelopment activity related to a mixed-use project in the Allegheny West/Tioga neighborhood. The project will create 45 units of affordable senior housing and a ground-floor commercial space and is fully consistent with the goals of the Hunting Park West: Reviving Philadelphia’s Industrial Lands Plan. The building will also be Philadelphia’s first multifamily development to receive Passive House certification. LISC funds will be used for architectural design, environmental assessment, and market study and commercial analysis. Allegheny West Foundation plans to secure permanent financing, including low income housing tax credits, by September 2018 and expects to start construction in November 2018.
Total Development: $14.8 Million
LISC has committed $50,000 in a recoverable grant to Esperanza Housing and Economic Development Corporation for predevelopment activity related to a mixed-use project on Hunting Park’s North 5th Street commercial corridor. The project will replace a dilapidated, vacant building with eight affordable housing units and ground-floor commercial space, and is fully consistent with the Hunting Park Neighborhood Strategic Plan 2022. LISC funds will be used for architectural and schematic design services. Esperanza expects to close on financing in December 2018.
Total Development: $2.8 Million
LISC committed $50,000 in a recoverable grant to HACE for predevelopment activity related to a mixed-use project on Eastern North Philadelphia’s El Centro de Oro commercial corridor. The project will replace a blighted site with 30 units of affordable housing for person 55+ and ground-floor commercial space. LISC funds will be used for architectural design, environmental assessment, geotechnical study, appraisal and legal costs. HACE expects to close on financing and begin construction by March 2019.
LISC provided The Clay Studio with a $50,000 recoverable grant for the relocation of its existing studios, school, shop and gallery to a new 35,000 square foot location on American Street. For 38 years, The Clay Studio has promoted access to the ceramic arts at all levels of proficiency, from practicing professionals to children in low-income, underserved Philadelphia neighborhoods. LISC funds helped pay for the environmental reports, geotechnical study, and architectural design. The new facility will help revitalize the American Street corridor, bring 10 to 15 new jobs plus an existing 15 jobs, and expand The Clay Studio’s arts-based curriculum to the Eastern North community.
Total Development: $13.4 Million