Mayor Cherelle Parker says her administration is working on a plan to potentially save nearly 1,000 affordable rentals scattered across West and Southwest Philadelphia. The announcement, relayed in a formal statement, marks the administration’s first public commitment to playing a role in preserving the units after more than a year of relative silence. The properties belong to Neighborhood Restorations and were built with federal tax credits that have kept them affordable for decades. The credits are expiring on a rolling basis as the company’s owner, Jim Levin, seeks to sell the portfolio and retire. Levin has said he would like the city to invest in the properties so they can remain affordable into the future. Roughly 3,000 residents rent from Neighborhood Restorations, and many fear they will be displaced if the properties are sold to a market-rate developer and not a buyer, or group of buyers, backed by city dollars. Angela Brooks, Philadelphia’s chief housing and urban development officer, said that the administration plans to meet with Levin in August as a steering committee finalizes its recommendations regarding a potential sale.
Source: PlanPhilly; 8/13/2026