A Historic Philadelphia Building Will Be Converted Into 44 Affordable Homes
The 481 CEI-Boulos Impact Fund has invested in the redevelopment of a property in Philadelphia. The project will bring affordable workforce housing units to the neighborhood. This is the third affordable housing investment in Philadelphia in less than a year. The former Cornerstone Baptist Church property will be redeveloped into 44 affordable housing units. Select Redevelopment will convert the long-vacant historic building. The official announcement states that the site is located at 2117 N. 33rd Street, across from Fairmount Park. It is part of the N. 33rd Street Redevelopment Project and has been vacant for more than five years. The project will restore the vacant property and add new housing to the neighborhood. It is the second affordable housing investment in the Strawberry Mansion neighborhood. Together, the fund’s three Philadelphia projects are expected to create 139 affordable housing units. The project will help expand affordable housing while restoring a historic community landmark.
