On March 2nd, the Philadelphia Housing Authority and partners LMXD and MSquared broke ground on the first phase of the Westpark Apartments redevelopment at Market and 44th streets in West Philadelphia, initiating 327 new homes and site infrastructure work.
Groundbreaking Launches Westpark Phase One in West Philadelphia
The 12-acre campus overhaul is part of the Westpark Apartments redevelopment.
According to reporting by Bisnow, phase one carries a $205M budget and is expected to create 1,500 union construction jobs.
PHA will retain a ground lease, and Greystar is slated to manage operations.
Leasing and Unit Mix Shift Under Phase One
Nearly 140 units are reserved for returning Westpark residents, and 190 will be affordable to households earning between 20% and 80% of AMI within the initial 327 homes.
Units are planned across a new mid-rise, a rehabilitated southern tower, and 41 new homes on the southern portion of the campus.
The plan includes first-phase details such as PBV allocations and open space, along with a pedestrian link to the 46th Street Market-Frankford Line.
On-Site Services and Property Operations
The rehabilitated tower’s ground floor will include a community center with vocational, educational, and healthcare services operated by Eddie’s House, shaping resident engagement workflows for managers.
Buildings in the broader redevelopment are slated to be 100% electric, with rainwater capture and low-carbon features that will influence preventive maintenance planning and utility procurement.
Comparable finishes between affordable and market-rate homes point to unified turn standards that can stabilize long-term maintenance budgets.
Funding Stack, Compliance, and Management Oversight
Public financing for the first phase includes $21.4 million in federal infrastructure support, $2.6 million through the Commonwealth’s RACP, and $3 million from the City’s housing department.
The capital stack utilizes LIHTC with Red Stone Equity as syndicator and a PHFA volume-cap allocation, with M&T Bank and TD Bank providing construction financing for separate buildings.
State participation aligns the project with Shapiro’s Housing Action Plan, reinforcing ADA upgrades and reporting tied to infrastructure and housing funds.
What to Watch Next on Timeline and Neighborhood Integration
The initial 327 homes are slated to deliver by 2028, creating a defined lease-up window with returning residents prioritized for occupancy.
Retail space and a new plaza connected to SEPTA will add public-realm stewardship needs that affect security, janitorial, and vendor contracting for operators.
Transit access near University City suggests stronger leasing velocity among workforce renters once marketing begins and units are released in sequence to returning households.