Philadelphia is facing a housing shortage that affects the city’s economy and residents. Nearly 30 percent of renters spend more than half their income on housing. Many low-income residents cannot afford both rent and other basic needs. In response, Mayor Cherelle L. Parker has announced the Housing Opportunities Made Easy (H.O.M.E.) initiative. This $2 billion plan aims to build, preserve, or restore 30,000 housing units in the city.
The H.O.M.E. initiative uses housing gap analysis to target resources to neighborhoods with the most need. Funding comes from city bonds, public land, federal HUD funding, and partnerships with public, private, and nonprofit groups. The plan seeks to address the housing shortage through a collaborative approach.
The H.O.M.E. plan includes measures for transparency and accountability. Progress will be tracked with public dashboards. This allows residents to monitor results and helps ensure the city meets its goals…