Page 2 - Mo Rushdy News Today

/PRNewswire/ -- On behalf of The Buyer and The Seller, Agent PHL / Compass Commercial has formally announced the sale and settlement of Kensington Courts Flats...

The Philadelphia real estate market poses stark challenges for first-time home buyers, from low home supply to high competition, price inflation and rising mortgage rates. The popular Philly First Home program will resume giving out grants of up to $10,000 to help first-time buyers with down payment assistance costs, creating new pathways to home ownership. City planners and developers face difficult questions about affordable housing, new home construction, neighborhood preservation, gentrifica...

Experts see a slowing buyer’s market and more people getting priced out of Philly as the march toward a majority-renter city continues.

City Council passed a bill that requires affordable units be included in large residential developments in parts of North, West ,and Northeast Philadelphia where residents are seeing rents rise.

The change aims to empower district council members and residents, but critics say it will politicize and delay real estate development.

A contested bill designed to preserve an affordable rental housing complex in West Philadelphia moved one step closer to becoming law on Tuesday.

A bill that would effectively bar the sale and redevelopment of the affordable housing project at 3900 Market St. has advanced out of committee.

The city of Philadelphia launched a height and density bonus in 2018 to create incentives for the development of affordable housing, but so far the results have proven underwhelming.

The fund seeks to level the playing field by making it easier for Black and brown developers to gain access to capital.

Councilmembers Maria Quiñones-Sánchez and Jamie Gauthier have introduced a bill to change Philadelphia’s mixed-income housing bonus.