City officials in Philadelphia are scrambling to deal with the fallout after a developer suddenly backed out of a deal that allowed additional height in exchange for affordable housing units for a 250-unit development near the Delaware River.
Inga Saffron reports: "A top Philadelphia zoning official said Monday that tenants will not be allowed to move into a luxurious new Delaware waterfront apartment building unless the developer includes 25 affordable units as promised - or offers a suitable alternative, such as ground-floor retail, public art, or a contribution to the city's Housing Trust Fund."
The developer in question, PMC Property Group, had nearly finished the 250-unit One Water Street project "when it asked to be released from an inclusionary housing deal that it cut with the city in 2014," adds Saffron. PMC had promised to build the affordable units in exchange for a 48-foot height bonus. At the time of Saffron's article, the developers had also offered no explanation for the change.
Saffron also includes an account of the fallout from PMC's decision—including outcry on social media and from housing advocates in the city of Philadelphia.
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