Parker’s $2B Philadelphia Housing Plan Moves Forward After Council Approval

Philly's Mayor Parker Advances $2B Housing Plan After Council's $800M Bond Approval — Mayor Cherelle L. Parker/Facebook

Philadelphia Mayor Cherelle Parker’s ambitious $2 billion housing plan cleared a major legislative hurdle as City Council granted preliminary approval for an $800 million bond issuance. The funding is key to Parker’s H.O.M.E. initiative, which aims to create and preserve 30,000 housing units. With Council set for a final vote on June 12, the administration is on track to align housing policy with the upcoming city budget.

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Major Step for H.O.M.E. Plan

City Council passed a bill authorizing the city to borrow $800 million through bonds in partnership with the Philadelphia Redevelopment Authority. The funding is intended to support over three dozen programs targeting housing development, rental assistance, homelessness prevention, and blight removal. Mayor Parker plans to match the bond with $1 billion in public assets and additional funding.

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Zoning Bills Advance

In addition to the funding legislation, the Council moved forward on four zoning bills crafted to streamline development under the H.O.M.E. initiative. These changes aim to reduce regulatory barriers and align land-use policy with Parker’s housing priorities. All five measures are expected to pass in the final session before summer recess, maintaining the administration’s timeline to synchronize with the city’s fiscal calendar.

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Urgency Amid Crisis

Officials argue the plan is urgent for a city facing deep housing challenges. “We have a crisis and we want to address it now,” said Tiffany Thurman, Parker’s chief of staff. “We don’t want to be paralyzed by inaction.” Philadelphia, the poorest major city in the country, continues to face rising housing costs and growing displacement.

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Program Spending and Oversight

The $800 million will fund a wide range of programs, many of which are already in operation. These include the Basic Systems Repair Program for critical home repairs and the Shallow Rent Program for eviction prevention. Finance Director Rob Dubow said the bond will be borrowed in two $400 million tranches, starting in the fall. “We can spend and get these dollars out the door quickly,” he said. Oversight measures were added to the bill. The administration must now submit quarterly program budgets to the Council, which must approve them. A new “Project Review Team,” with members appointed by the mayor and Council president, will manage reallocations up to 10% of the annual spending. Larger changes will require new legislation.

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Fast-Tracked Land Sales

The final version of the ordinance includes language allowing the sale of 1,000 city-owned parcels without approval from district council members. The properties, pre-approved for sale, are meant to expedite redevelopment and reduce delays caused by political bottlenecks.

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Funding Strategy Sparks Debate

Some Council members voiced concerns about approving the entire $800 million upfront. Councilmember Isaiah Thomas advocated for a phased approach, citing fiscal uncertainty and the need for caution. “We can also use those two years to maybe iron out any kinks or unanticipated problems that might exist,” said Thomas, who co-sponsored the bill. Others, like Councilmember Jamie Gauthier, supported Parker’s full request. “We need this level of investment in housing in the city to make a dent in the housing crisis,” she said. “I am squarely behind her on this issue.” Despite opposition, the Council approved the full amount. The debt is expected to cost approximately $1.3 billion, including interest.

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Zoning Reforms Target Costs

The zoning bills aim to ease construction in areas with high housing demand. They propose removing parking minimums for some multifamily projects, creating a new residential zoning category, relaxing restrictions in the 5th District, and updating code provisions. The goal is to lower building costs and support denser development in neighborhoods like Center City, Fishtown, Fairmount, and North Philadelphia.