Tuesday, May 31, 2022

10M fund to help Black, brown, small developers build affordable homes

May 26, Philadelphia Tribune

A new $10 million fund geared toward Black, brown and small developers seeking to build affordable housing is now taking applications, according to the fund’s chair.

Mo Rushdy, chair of the non-profit Philadelphia Accelerator Fund, said the idea for the fund came from City Council’s recognition a few years ago that there is a shortage of affordable housing in Philadelphia.

The city said it needed 30,000 affordable housing units built by 2028.

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