This Offering is to raise $2,200,000 in equity for the Project, which will serve as an anchor on the Ridge Avenue commercial corridor and is the first phase of the redevelopment effort in Sharswood. Located at 2077 Ridge Avenue in Philadelphias 19121 zip code, this 230,000 square foot mixed-use project is planned as four condominium commercial units which will include 101 residential units, ranging in size and affordability.
It is hoped that the Project will contribute to significant reduction of blight, as part of a comprehensive neighborhood plan, along with the revitalization of an important commercial corridor. While many projects are already under construction or completed, additional planned community development initiatives include new high quality affordable housing, local job creation, neighborhood-serving retail and commercial services and public green space. To date, the areas high school has been reopened, 83 affordable homes have been built, Habitat for Humanity is currently constructing an additional 20 homes and PHA is converting a building to create 94 senior housing units.
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