City unveils new properties for sale as part of affordable housing program
Affordable homeownership improves quality of life in Philly
Dozens of new, affordable homes are coming to North Philadelphia and it’s part of a first-time homeownership program, all built on city land.
NORTH PHILADELPHIA - A ribbon cutting in North Philadelphia marks the opening of more affordable housing in Philadelphia under the Turn The Key program.
Homeownership:
Family photos adorn the walls of Shakeda Gaines North Philadelphia home. The 45-year-old City Council staffer moved into the three-bedroom , two-bathroom home near the Temple campus early in the year. It’s the first home she’s ever owned. Gaines said, "I think it’s the first time in my entire life I actually sleep at night. It’s mine. I go to bed really early- I feel like an old lady right now, because I’m comfortable."
Gaines credits the Turn The Key program for her homeownership. Turn The Key is a public/private effort to provide affordable housing on formerly city owned land.
First-time home buyers working with the City of Philadelphia, and linked to private lenders and developers, buy new homes being built across the city. Gaines believes, "It’s one of those programs that has to be funded because people deserve to have homes, and we deserve to be safe, and it needs to be affordable."
By the numbers:
The ribbon was cut on 60 new Turn the Key homes in North Philadelphia Friday. Selling for $280,000, organizers say with the help of Turn The Key, monthly mortgages costs are equal to rent.
Jeffrey J. Young is a City Council Democrat representing North Philadelphia. He said, "Rent on this block will be about $1,200 to $1,300 for two-bedroom apartment. You can own this house for $1,200 or $1,300 a month."
Organizers say Turn the Key also helps small and minority-owned businesses contracted to build the homes while stabilizing communities. Angel Rodriquez, the head of the Philadelphia Land Bank, said, "As we build these homes, we’re displacing crime. Many people feel safe, many come out onto the street and the money they save on the home they’re spending in the community."
Shakeda Gaines believes she’s finally home. "It gives you a definite sense of belonging, so you want to clean up the front of your home. You want to make sure it’s presentable to the world."
What you can do:
You can get more information on Philadelphia's Turn The Key program by visiting their website, here.