South
Philadelphia Plan
Avenue of the Arts
The South Philadelphia Plan is
a comprehensive revitalization effort in the area of South Philadelphia
bounded by 11th, Federal, 19th and South Streets. This area is strategically
located near Broad Street, the Avenue of the Arts and Center City. It will
bring new housing, new businesses, new schools and new jobs to the area.
NTI bonds provided funding for critical predevelopment
work: acquisition, demolition and remediation, which is now underway. Over
the next four years, 400 new housing units will offer a mixture of market-rate,
affordable and rental homes. The Philadelphia Housing Authority is completing
the Martin Luther King Plaza Revitalization, a HOPE VI $74 million project
that will provide 247 units of townhouse-style homes. Universal Companies,
a CDC founded by Kenny Gamble, plans to build a new Audenried High School.
The City is partnering with Universal Companies,
Citizens Bank, The Philadelphia Housing Authority, Fannie Mae and The Reinvestment
Fund.
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