City officials and developers broke ground today on a vacant lot in North Philadelphia that will be transformed to 10 affordable single family homes and a new city park.
Ingersoll Commons, located at 16th and Master streets, is part of the City's Green 2015 initiative that aims to create new public green space in underserved city neighborhoods.
The 10 homes are being developed by Community Ventures, a nonprofit development group. The energy efficient design includes tankless water heaters and gas-fired furnaces. Each home will be equipped with 3 bedrooms, 2 ½ bathrooms and a basement.
The total project cost is about $4.4 million. The City of Philadelphia provided $2.9 million through a $400,000 Pennsylvania Department of Conservation and Natural Resources grant and $2.5 million through the federal Neighborhood Stabilization Program. An additional $1.5 million will be generated from sales proceeds, according to a news release from the city's Office of Housing and Community Development. The Philadelphia Redevelopment Authority, whcih previously owned the land where the houses will be built, is underwriting the financing of the development.