Parker proposes $2 billion plan for 30,000 affordable housing units in Philadelphia

Philadelphia Mayor Cherelle Parker has announced a $2 billion initiative, Housing Opportunities Made Easy (H.O.M.E.), aimed at building and preserving 30,000 housing units in the city. The plan addresses the urgent issue of housing affordability and targets those earning less than 50% of the Area Median Income. Funding includes $800 million in city bonds, $1 billion from city-owned assets, and additional federal and state contributions. The initiative would expedite land acquisition through the city's Land Bank and aims to challenge the councilmanic prerogative that allows council members significant control over land use. Despite potential hurdles, including federal policy changes and local political dynamics, the plan represents the largest housing investment in Philadelphia's history. City Council members have shown support but have questions regarding district control and the plan's impact.