Tenants in West Philadelphia are feeling frustrated and anxious as they wait to learn if their longtime homes will remain affordable. The city and other stakeholders are weighing possible solutions for preserving nearly 1,000 subsidized rentals in the area, but it could be months before an agreement is reached with the private developer who owns them and wants to retire. The properties in question belong to Neighborhood Restorations, a private developer that provides affordable housing to roughly 3,000 low-income renters in West and Southwest Philadelphia. They were built using federal tax credits that required them to remain affordable for a set period. As those restrictions expire over the next decade, a new owner could convert the units to market-rate housing.
Source: PlanPhilly; 7/13/2026