Mayor Cherelle L. Parker unveils first-of-its-kind partnership to redevelop affordable housing at Brith Sholom Apartments in Wynnefield
PHILADELPHIA — Mayor Cherelle L. Parker today announced a transformative $50 million investment by the Philadelphia Building and Construction Trades Council to redevelop affordable housing, setting a new precedent as the largest building trades-backed affordable housing initiative in Philadelphia’s history. Supported by the City of Philadelphia, this innovative public-private partnership will generate 545 union construction jobs and provide 336 affordable senior apartment homes through the comprehensive redevelopment of Brith Sholom Apartments at 3939 Conshohocken Avenue in Wynnefield.
“This milestone demonstrates what’s possible when we unite and leverage every available tool in the toolbox to meet the needs of Philadelphians,” said Mayor Cherelle L. Parker. “With this historic investment, we’re setting the bar for affordable senior housing while creating union jobs and delivering results at an unprecedented scale in our city.”
The agreement brings together the City of Philadelphia, the Philadelphia Building and Construction Trades Council, and the Philadelphia Housing Authority (PHA) to drive forward Mayor Parker’s H.O.M.E. Initiative, a $2 billion citywide commitment to build, restore, and preserve 30,000 housing units. The Building Trades will extend a $50 million loan from its pension fund to PHA, secured by a city guarantee, with repayment over 15 years at a competitive 4.5 percent interest rate.
“This isn’t an investment in the building trades,” said Ryan Boyer, Business Manager, Philadelphia Building and Construction Trades Council. “This is a down payment on our city’s future. If we don’t have affordable housing, we can’t move forward. This is what the building trades do. We build buildings that last lifetimes, and we build lives. This is about lives and being a real partner. Today, we’re putting our money where our mouth is.”
“When we first assessed Brith Sholom, the conditions were far worse than expected, and residents and the surrounding community had lived with the impacts of that neglect for far too long,” said Kelvin A. Jeremiah, President and Chief Executive Officer, Philadelphia Housing Authority. “This investment and partnership with the city and the Building Trades allows us to move forward with a full-scale renovation of Birth Sholom. It is about restoring affordable housing, strengthening the community, and returning this property to productive use so it can once again serve seniors and the neighborhood for generations to come.”
Brith Sholom Apartments, a senior housing complex in Wynnefield, had deteriorated significantly under previous private ownership. In September 2024, during Mayor Parker’s first year in office, the city joined forces with the Philadelphia Housing Authority to support its emergency acquisition of the 360-unit property—a critical move that paved the way for the site’s long-term preservation and redevelopment as affordable housing.
This record $50 million investment from the Building Trades, together with $8 million in prior city funds, will enable the Philadelphia Housing Authority to break ground on construction and renovation at Brith Sholom. Upon completion, the property will offer 336 modern, affordable homes designed specifically for seniors living on fixed or modest incomes.
Leaders at the press conference affirmed that the unique financial deal reflects sustained collaboration that began early in the Parker administration.
“This partnership shows the mayor using every tool in the toolbox to deliver results for Philadelphia residents,” said Jessie Lawrence, Director, Department of Planning and Development. “Beginning in 2024, the mayor brought together housing, labor, finance, and planning leaders to combine public housing expertise with private investment and creative financing solutions. That collaboration allowed us to explore new ways to redevelop affordable housing for our city.”
City officials anticipate that the Brith Sholom redevelopment strategy will serve as a blueprint for future public-private partnerships under the H.O.M.E. Plan, showcasing how the city and its partners can collaborate to tackle Philadelphia’s most pressing housing challenges.
Mayor Parker praised the unique partnership unveiled today, combining the investment by the Building Trades, the partnership of PHA, and the hard work of the Parker Administration’s housing team, under Chief of Staff Tiffany Thurman’s leadership.
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About the H.O.M.E. Plan
Mayor Cherelle L. Parker’s H.O.M.E. Plan is a $2 billion citywide initiative to build, restore, and preserve 30,000 units of housing across Philadelphia. The plan focuses on increasing housing supply, preserving affordability, supporting home repair and stabilization, and leveraging public, private, and intergovernmental partnerships to ensure more Philadelphians have access to safe, stable, and affordable housing.
About the Philadelphia Housing Authority
The Philadelphia Housing Authority’s mission is to open doors to affordable housing, economic opportunity and safe, sustainable communities to benefit Philadelphia residents with low incomes. To learn more visit pha.phila.gov.
About the Philadelphia Building and Construction Trades Council
The Philadelphia Building and Construction Trades Council represents union construction workers across the region. The council works to support family-sustaining jobs, promote high-quality training and safety standards, and partners with public and private organizations on projects that strengthen communities and expand economic opportunity in Philadelphia.