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PHDC as Developer
PHDC is a full-service housing developer with
40 years of experience. In the past four years alone PHDC has completed
256 housing units with a development cost in excess of $33 million.
Currently PHDC has 66 units under construction with a total development
cost of $13.23 million, and another 81 units in excess of $9 million
in the planning phase.
In all of its development efforts, PHDC is responsible for the complete
development process including the preparation of architectural plans
inhouse or outsourced, negotiation of private financing, the entire
construction bid process and inspection of the actual work by an experienced
inspection team. Environmental, engineering and cost estimating consultants
are retained under contract with PHDC to provide technical support to
its development efforts.
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PHDC is able to take on and manage development
projects of all sizes because it maintains an experienced professional
staff of architects, development specialists and construction inspectors
inhouse; and has established a long history of performance with local
lenders. Over the past four years, PHDC has obtained more than $7.5
million in private funds from local banking institutions, with more
than $3 million committed for projects under construction and planned.
This unique capability allows PHDC to be ideally
positioned to meet the challenges facing the development industry today;
namely, how to build good quality housing that is both affordable to
build and to buy. PHDC is working with the City and others to refine
the development process and construction techniques to produce innovative
approaches to housing construction while maintaining the historic and
design perspectives so important to Philadelphians.
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Inventory of Houses
PHDC owns houses and lots that are available
to the public. The Acquisition-Disposition Committee meets every Monday
to review and approve applications. Properties are sold at fair-market
value in “as is” condition. Information required includes:
- development entity’s corporate structure;
- development proposal showing scope of work
including preliminary architectural plans;
- development proforma including budget, source
of financing, operating plan and cash flow analysis;
- letters of support from local community groups
and elected officials;
- PHDC conflict of interest statement;
- statement of no pending or threatened
litigation; and
- statement of non-indebtedness to City of Philadelphia.
Contact:
Timothy Roundtree
215-448-3173
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