(L-R): Angel Rodriguez: Executive Director, Philadelphia Land Bank, Gregory Heller: Executive Director, Philadelphia Redevelopment Authority, Max Frankel: Frankel Enterprises, Jane Golden: Founder, Mural Arts Philadelphia, Zach Frankel: Frankel Enterprises, Darrell Clarke, City Council President, Diane Monroe: Chair, 14th Ward Democratic RCO.
Frankel Enterprises unveils plans for The West Poplar Homes, workforce housing development comprised of 26 single family homes priced below $230,000, at North 11th and Wallace Streets in the West Poplar neighborhood. In partnership with Philadelphia Land Bank,Philadelphia Redevelopment Authority and City Council President Darrell L. Clarke, Frankel Enterprises is committed to creating quality housing opportunities for Philadelphia residents.
The West Poplar Homes will feature modern red-brick façades, reflecting the contextual design of the surrounding neighborhood while offering contemporary amenities and conveniences. The energy efficient three-bedroom, two-bath homes will include stainless steel appliances, sleek fixtures as well as patios and private rear yards. Mural Arts Philadelphia, in conjunction with local residents, will create community-focused public art to echo neighborhood values.
“Investing in Philadelphia’s future has always been paramount to our mission. The West Poplar Homes have a special significance for our company, as we emphasize our focus on opportunities in this city. I am thrilled to partner with Philadelphia Land Bank, while working with City Council President Darrell Clarke to ensure working families have an opportunity to afford high quality housing in their community,” explains Zachary Frankel.
“The Philadelphia Land Bank is excited to partner with Frankel Enterprises to develop over 20 units of workforce housing,” said Angel Rodriguez, Executive Director of the Philadelphia Land Bank. “This development helps place City-owned land back into productive use, while increasing the city’s housing stock. Workforce housing is vital to keeping our communities affordable for working individuals and families in great communities such as West Poplar.
The West Poplar Homes signify a reenergized focus by Frankel Enterprises in real estate development in Philadelphia. Max Frankel and Zachary Frankel will lead the company’s strategic efforts in the region. Construction financing for the project was provided by The Reinvestment Fund with credit enhancement by the Philadelphia Redevelopment Authority.
"These 26 new homes will help ensure working families can continue to plant roots in Philly neighborhoods experiencing price appreciation," said Council President Darrell L. Clarke, who represents the 5th District and has long championed increasing the City's affordable housing stock. "Everybody deserves quality, affordable housing, and a chance to achieve economic stability to support child-rearing and plan ahead for retirement. I'm thankful for all of our partners in this endeavor, including Frankel Enterprises, who agree that balanced, equitable growth is not just the right thing to do, it's the best way to ensure Philadelphia's long-term health and prosperity."
Frankel Enterprises will host an informational community meeting on the evening of December 13th at St. Paul’s Baptist Church located at 1000 Wallace Street for residents to learn more about how to qualify for workforce housing as well as lending opportunities. To learn more about The West Poplar Homes, emailwphomesllc@gmail.com, call 267-571-8519 or visit WestPoplarHomes.com.
“It is an exciting time to develop in Philadelphia,” explains Max Frankel. “Our family has a rich history of building high quality homes to last generations and we are thrilled to partner with the City of Philadelphia to reactivate vacant property to build high quality homes for working families.”
About Frankel Enterprises
Founded in 1936 by E.J. Frankel, whose work ethic, integrity and creativity launched major projects in Philadelphia, Delaware, New Jersey, Ohio and South Florida. Today, Frankel Enterprises is a fourth-generation, family owned real estate development company incorporating planning, financing and construction into an efficient development process. The company is widely recognized for building luxury communities in Florida as well as a legacy of Philadelphia development including The Warwick Condominiums, Kennedy House, William Penn House and 1845 Walnut Street.
About Philadelphia Land Bank
In December 2013, Philadelphia City Council passed and Mayor Nutter signed legislation creating the Philadelphia Land Bank (Land Bank) Since that time it has achieved numerous milestones that improve access to blighted properties for redevelopment purposes. As of July 2016 the Land Bank started acquiring vacant, tax delinquent properties at tax foreclosure sale. In FY18, the Land Bank will continue to align its goals to the goals of the City of Philadelphia's Department of Planning and Development. This will ensure that acquisition and disposition actions support the need for affordable, workforce and market-rate rental and homeownership opportunities in Philadelphia as well as expand green space as side yards or community gardens and support commercial and economic development. The proposed acquisition processes and program criteria will lead to a more transparent Land Bank and elevated levels of production.
