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Project HOME is a nationally recognized 501(c)(3) non-profit organization [1] that provides housing, opportunities for employment, medical care and education to homeless and low-income persons in Philadelphia, Pennsylvania.
During the Great Depression, the housing in Philadelphia for low income people, especially African Americans, was in very poor shape, and in many cases unsafe to live in. [3] This crisis finally came to a head in December 1936 when two slum houses collapsed near 15th and Lombard, killing 6 people and injuring 20.
In December 2019 the PHA opened 83 prefabricated low rise apartments built using modular wood frame construction techniques. The Blumberg 83 development was financed through HUD's Rental Assistance Demonstration program and with Low Income Housing Tax Credits, and serves people making between 20 and 60 percent of the area median income. [33]
Four low income housing towers comprising 576 housing units were built in the Martin Luther King Plaza, in the 700 block of South 13th Street. [32] They, like similar projects in other urban areas were afflicted with crime, physical deterioration, fragmented services, and increasing levels of poverty.
The federal government, through its Low-Income Housing Tax Credit program (which in 2012 paid for construction of 90% of all subsidized rental housing in the US), spends $6 billion per year to finance 50,000 low-income rental units annually, with median costs per unit for new construction (2011–2015) ranging from $126,000 in Texas to $326,000 ...
LISC was an early advocate for the Low-Income Housing Tax Credit (LIHTC), which created by the Reagan Administration in the Tax Reform Act of 1986. In 1987, LISC launched the National Equity Fund (NEF) to syndicate LIHTC, raising $14.5 million in the first year. [15]
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