Alan Nochumson of Nochumson P.C. Mixed Income Housing Bonus Is a Valuable Tool for Real Estate Development
The challenge of revitalizing impoverished communities in a way that their existing residents can benefit has long troubled policymakers. However, the city of Philadelphia has recently revised the Philadelphia Zoning Code to create incentives that may prove to be a win-win for some real estate developers and residents alike.
August 19, 2020 at 11:38 AM
10 minute read
As newly constructed housing is being built in places that once contained decrepit structures or barren lots, longstanding residents in these developing neighborhoods are concerned that the new stock of housing will lead to increases in their own rent, property value and real estate taxes which will force them to move out of the neighborhood many have lived in their entire life.
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