City Seeks Builder for Germantown Ave. Homes – The Philadelphia Inquirer

Philadelphia’s Office of Housing and Community Development has posted a Request for Proposals seeking developers to build around 40 to 60 apartments or homes, plus stores, on a two-thirds-of-an-acre parcel at 4428-70 Germantown Ave., next to the Wayne Junction train station, in rundown Nicetown on Septa’s Chestnut Hill East commuter line.

Proposals are due Oct. 1; OHCD will hold a briefing at its offices, 1234 Market St., 17th Floor, next Monday, Sept. 13 at 10 a.m.

The city will use some of the $4 million it has available in federal Neighborhood Stabilization Program 2 (corrected) funds to subsidize “affordable housing” for at least 20-30 of the units on the site; the rest of that money should be spent on a future development across the avenue, says OHCD spokesman Paul Chrystie.

“At least 50% of the units will be affordable” for households earning less than $39,150 a year, or half the median local income. The rest will be affordable to people earning $93,960 or less, or 1.2 times the median.

Chrystie says the city approved a similar project in June on former Philadelphia Gas Works property at 9th and Berks, near the Temple Septa station, for 164 apartments, including 44 “affordable housing” units, plus stores. Work there is supposed to start next year.

That project, to be built by private developers Asociacion de Puertorriquenos en Marcha (APM) and Jonathan Rose Cos. of New York, received gifts of $487,000 from federal taxpayers through Sen. Bob Casey, D-Pa., and $125,000 from a Citigroup foundation, along with the gift of the former city land “in return for affordable housing,” Chrystie said.

By Joseph DiStefano, Philadelphia Inquirer Staff Writer
Wednesday, September 8, 2010

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