Venango Views: 22 affordable homes break ground in North Philadelphia
Inside the 22 new affordable homes coming to North Philly
Philadelphia held a ceremonial groundbreaking for Venango Views, the first Turn the Key affordable housing project in the 8th district, which will add 22 single-family homes to North Philadelphia.
PHILADELPHIA - The city marked a ceremonial groundbreaking Monday for Venango Views, the first Turn the Key project in Philadelphia’s 8th district. The development will bring 22 single-family homes to the 1600 block of West Venango Street as part of a broader effort to make affordable housing more accessible.
Turn the Key project launches in North Philadelphia
What we know:
The Venango Views project will feature 22 three-bedroom, two-bathroom single-family homes, according to city officials.
The homes are being built on vacant, city-owned land through a partnership between the Land Bank and private developers.
Buyers can receive up to $85,000 in settlement assistance or a mortgage buydown and down payment, according to the city.
The average annual income for a Turn the Key homebuyer is $45,000, and applications and requirements are available on the initiative’s webpage.
Mayor Cherelle Parker said, "Philadelphia has always been a city that had a high rate of homeownership, but as we’ve seen the affordability crisis go up and salaries and income not remain in tandem with interest rates and quite frankly, access to the opportunity to borrow, this program becomes essential."
The project’s ceremonial groundbreaking included Mayor Cherelle Parker, Council President Kenyatta Johnson, City Councilmember Cindy Bass, the owner of Civetta Property Group, and the executive director of the Philadelphia Land Bank.
The project is expected to be completed in about six months.
Local reaction to new housing development
What they're saying:
City Councilmember Cindy Bass said, "Affordable luxury it’s real and it’s happening in our city, and it’s happening for those in our communities who might have thought just a moment ago that this was something out of reach."
Gregory Bonaparte, a block resident, said, "I don’t like the idea of squeezing a bunch of people on top of people."
Jon Hakim Mckay, who grew up and lives in the area, said, "I like everything about it. I just hope that the relationship between developers and residents grow deeper." Some long-term homeowners near the block said they are pleased the project will bring single-family homes.
The Turn the Key initiative is featured in Mayor Cherelle Parker’s H.O.M.E. plan, which aims to build and preserve 30,000 homes in the city.
What we don't know:
The city offers up to $85,000 in assistance for buyers, but full details on eligibility are on the initiative's webpage.
The Source: Information from the City of Philadelphia, city officials, and interviews with residents.