A reader that works at Temple Hospital reached out to us recently, wondering about a building under construction on the east side of the 2400 block of N. Broad Street. We can forgive the question, since we last visited this project almost a year ago, shortly after ground breaking but before construction really got started in earnest. To refresh everybody's memory, we told you last year that Project HOME was planning an 88-unit affordable housing building at 2415 N. Broad St., on a large parcel that was half vacant land and half old warehouse. If you visit the property today, you can see that they've made some considerable progress.
Once the construction is finished, the building should look like this:
As we said, the building will include 88 affordable housing units, with units reserved for people at different income levels. More specifically, 9 units will be for individuals earning 20% AMI, up to $11,360/year, 6 for individuals earning 30% AMI, up to $16,900/year, 38 for individuals earning 50% AMI, up to $28,400/year, and 35 for individuals earning 60% AMI, up to $34,080/year. As you might expect from a Project HOME building, special priority will be given to people that are at risk of becoming homeless, were previously homeless, or are currently homeless. In addition, some of the units will be reserved for young applicants that have aged out of foster care with the same risks listed above. Each unit will be an efficiency, and according to the website for the project, there is a requirement that one person occupy each unit; so this one won't serve couples or families.
This building will represent a major upgrade for this block, which currently features a gas station on its southern end, an Auto Zone on its northern end, and a massive vacant lot on its entire western side. While we're not in this area all that often, we did tell you last month about Official Unlimited, a clothing store in a former synagogue on the 2300 block of North Broad Street. With plans for retail space in the 2415 North Broad building, this area is poised to get a little more retail, though it's hard to call it a comeback just yet for this stretch between Temple University and the hospital. That being said, there's a ton of opportunity in this area, with tons of vacant land to be had at very low prices, though we don't know when market rate development will become viable, if it ever does. For now at least, we'll be content to draw some hope from this Project HOME development, which will start taking applications in June. And we'll keep our eyes peeled for any additional development nearby, whether on North Broad or off the corridor.