Mayor Cherelle L. Parker revealed the specifics of her $800 million housing policy — dubbed Housing Opportunities Made Easy, or H.O.M.E. — detailing how she hopes to spend money raised by issuing city bonds to build or repair 30,000 homes. Angela Brooks, Philadelphia’s chief housing and urban development officer, described it as “tackling housing from every angle.” The funding generated by bonds would be spread across 38 programs, but more than $600 million would be split between seven key programs:

• $161 million for affordable-housing preservation
• $112 million for Turn the Key, which gives developers city-owned land to build housing
• $84 million for the Basic Systems Repair Program 
• $79.5 million for affordable-housing production
• $70 million for one-time payments for back rent
• $50.7 million to One Philly Mortgage, which aims to provide 30-year fixed-rate loans to households up to 120% area median income
• $50 million to expand the Philly First Home program, a first-time homeowner-assistance program 

Read more in the Inquirer.
Source: Philadelphia Inquirer; 4/21/2025