Philadelphia Mayor Cherelle L. Parker has rolled out an ambitious plan aimed at addressing the city's housing challenges with a $2 billion investment aimed at creating and preserving 30,000 homes over an unspecified timeline. In an extraordinary move, a session of City Council was dedicated solely to this housing issue on Monday, where Parker announced the Housing Opportunities Made Easy (H.O.M.E.) Plan, which banks heavily on public funding and innovation in its quest to ensure more Philadelphians have access to quality housing, according to the official announcement.
The plan presents an intricate funding structure, wherein $800 million will come from bonds and the remaining balance from local, state, and federal funding, plus the strategic use of publicly owned land valued at $1 billion, with the issuance of $400 million in bonds projected for FY26 to propel the plan into motion. Mayor Parker committed to creating 13,500 new housing units and preserving 16,500 existing ones, for both renters and homeowners, the plan outlines new initiatives like the ONE Philly Mortgage to broaden mortgage access at less cost, a Home Service Clearinghouse and Concierge to help residents avoid unreliable contractors, and a Curbside Appeal Program offering matching grants for residential block beautification.
Recognizing the success of existing initiatives, the plan allocates resources to further enhance these programs. In an effort to streamline housing provision, the H.O.M.E. Plan outlines improvements to the city's Land Bank processes, including accelerating land sales through tools like priority bidding at Sheriff’s sales, creating a Land Bank Acquisition Fund, and enhancing the Land Bank website for a better user experience.
In her address, Mayor Parker highlighted housing as a critical concern, second only to public safety, and expressed her administration's readiness to move forward with the plan under a banner of unity, "Beyond public safety, there is no more pressing issue for Philadelphia than access to housing," Parker declared, "We are ready now [to move forward] as One Philly, A United City!"—a sentiment reflects the urgency and scope of Parker’s H.O.M.E. Plan, addressing the need for advancements that aim to bridge the housing divide in a city characterized by significant disparities in living conditions and access to basic amenities.
