In April 2022, Philadelphia officials announced the launch of the Turn the Key program to give away city-owned land to developers to build 1,000 price-restricted homes for first-time buyers.
The program just recently celebrated its 100th sold home with now 900 to go, writes Michaelle Bond for The Philadelphia Inquirer.
This program is the city’s largest investment in affordable housing in decades and is part of City Council’s Neighborhood Preservation Initiative to build and preserve affordable housing and revive commercial corridors.
The 100th home sold as part of the program earlier this month is one of 35 new homes that have helped positively transform a Brewerytown block. Officials noted that roughly 450 homes are under construction in various neighborhoods across the city.
Philadelphia Housing Development Corporation, which administers the Turn the Key program, is preparing to unveil a citywide advertising campaign to attract more potential homeowners.
“Now that we’ve been able to put proof to concept, we feel like it’s our opportunity now to expand and try to look at what we can do for the city of Philadelphia as a whole, ” said David Thomas, President and CEO of PHDC.
The hope is to sell the 500th home by the end of next year and the 1,000th by 2027.
Read more about the Turn the Keys program and its goals in The Philadelphia Inquirer.
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