Legal Update – How should Landlords Prepare for COVID-19 from April and Beyond?
Alan Nochumson joined Christopher Somers from The Somers Team of Philadelphia to update the landlord and tenant on newly issued real estate rules and...
On June 24th, 2021, District Councilmembers Maria Quiñones Sánchez, Jamie R. Gauthier, and Kenyatta Johnson introduced Bill number 210633 to establish the Mixed-Income Neighborhoods Overlay District, which requires new multi-unit developments in targeted Philadelphia areas to include affordable housing or make payments to the Housing Trust Fund.
On June 24th, 2021, District Councilmembers Maria Quiñones Sánchez, Jamie R. Gauthier, and Kenyatta Johnson introduced Bill number 210633, which creates the mixed-income neighborhoods overlay district. The Mixed-Income Neighborhoods Overlay District applies to Residential Housing Projects on lots located in the following areas:
New real estate development projects in this overlay with ten (10) or more units must provide at least twenty percent (20%) affordability within the overlay boundaries, with ten percent (10%) of the total units on-site and the remaining ten percent (10%) either on a property within a half mile or replaced by a payment to the Housing Trust Fund.
The on-site units must be affordable for rental households earning up to forty percent (40%) of area median income (AMI) and for owner-occupied households earning up to sixty percent (60%) of AMI.
The cost of the payment in lieu varies by zoning district and development size:
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