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Philadelphia uses $50M union-backed loan to rebuild Brith Sholom House for affordable senior housing and union jobs.
Philadelphia is investing $50 million in a union-backed loan to redevelop Brith Sholom House, a deteriorating apartment complex in Wynnefield Heights, creating hundreds of affordable housing units for seniors and about 545 union construction jobs.
The project, led by Mayor Cherelle Parker and the Philadelphia Housing Authority, aims to restore the historic building after residents were evacuated due to unsafe conditions.
The funding, structured as a 15-year loan backed by a city guarantee, marks the largest union-supported affordable housing initiative in the city’s history and is part of the broader $2 billion H.O.M.E.
plan to build and preserve 30,000 housing units.
Filadelfia usa un préstamo de 50 millones de dólares respaldado por el sindicato para reconstruir la Casa Brith Sholom para viviendas asequibles para ancianos y empleos sindicales.