A 129-unit affordable apartment building at 11th and Berks Streets in North Philadelphia is moving forward under a partnership between Jonathan Rose Companies and the Philadelphia Housing Authority.
Construction is expected to start early next year and the development will serve the Temple University area.
Final Phase of Norris Homes Redevelopment Proceeds
The six-story building is the final phase of the multi-year redevelopment of Norris Homes, a former public housing site demolished between 2011 and 2019.
When complete, the larger site will total 446 rental and homeownership units, tripling the original count at Norris Homes.
Previous phases delivered new housing and a community center near SEPTA’s Temple University Station.
Affordability Bands and Rent Caps Define Leasing
All apartments will be income-restricted for households earning between 20% and 60% of area median income, with rents capped so no resident pays more than 30% of monthly income.
The building will include 60 one-bedrooms, 60 two-bedrooms, and nine three-bedrooms, plus a ground-level community room and fitness center.
AMI is calculated using a regional measure that includes places outside Philadelphia, which can influence eligibility thresholds and rent-setting.
Operational Effects for Owners and Property Managers Near Temple
New income-restricted supply directly across from Temple is likely to draw interest from staff and long-term residents priced out by student-focused properties, which can recalibrate comp sets and leasing velocity for nearby managed assets.
Operators should anticipate documentation needs tied to AMI qualifications, ongoing income certifications, and coordination with PHA subsidies keeping these rents affordable.
For context on apartment building development in North Philadelphia, prior coverage outlines the recent construction pace in the area.
Timeline and Adjacent For-Sale Development
Construction on the apartment building is expected to take 18 to 24 months once underway.
On the same site, PHA plans 15 affordable townhomes through the city’s Turn the Key program, with mortgage buydown assistance up to $75,000 and typical monthly payments around $1,400 for a three-bedroom home.
Additional background on affordable housing near Temple University helps frame demand drivers for both rentals and for-sale units.
Funding and Compliance Mechanics to Monitor
The $68 million project is primarily financed with Low-Income Housing Tax Credits alongside PHA capital and subsidies, locking in long-term affordability requirements.
LIHTC compliance will drive eligibility verification, rent calculations, and recordkeeping, adding oversight touchpoints for site teams and ownership.
Given the AMI bands and rent caps, portfolio planning around unit turns, preleasing windows, and renewal timing will hinge on timely income documentation and coordination with PHA program standards.