The Philadelphia Housing Authority (PHA) partnered with Mosaic Development Partners and SHIFT Capital on a 234,000 square foot mixed-use development that will deliver housing and neighborhood retail to North Philadelphia’s Sharswood commercial corridor. The site will provide 98 mixed-income rental units, with almost half (46 percent) of the homes reserved as below-market rate housing, and over 45,000 square feet of retail space: including a parking garage for the PHA Headquarters, Grocery Outlet, a discount supermarket chain, an Urgent Care Center, Santander Bank, and a Wingstop restaurant.
The $52 million project, designed by Wulff Architects will be delivered through an unprecedented public-private partnership, financed by innovative federal, state, local and private investment. Financing includes PHA loans, New Market Tax Credits, Redevelopment Assistance Capital Program grants, and Philadelphia Industrial Development Corp. loans.
BFW is the Owner’s Representative for Mosaic/Shift Capital.