The Philadelphia City Council has approved the First Amendment to the Redevelopment Agreement for the property located at 2451-2453 Frankford Avenue. This amendment modifies the original project use from a mixed-use building with six homeownership units to a mixed-use building with six rental units, aimed at households earning at or below 100% of the Area Median Income (AMI). The amendment ensures the project remains in substantial conformity with the amended urban renewal plan for the New Kensington-Fishtown Urban Renewal Area.
This amendment is significant as it adjusts the housing strategy to better align with current economic conditions, ensuring that the project continues to serve the community's needs by providing affordable rental housing.