HOUSING

Neighborhood stabilization through equitable development and affordable housing access

Affordable Housing Activities of Ceiba - LEDC Partners

1,496 units built (homeownership and rental)

10,270 units repaired or preserved

Uncovered and addressed the Latino Homeless Paradox

Challenges

  • Urgent need to address gentrification and displacement.

  • Philadelphia’s affordability crisis is hitting the Latino community hardest. 50% of Hispanic households are cost-burdened, the highest of any demographic.

  • The home-price-to-income ratio for the city’s Latino and Black populations in 2019 was 5.6 and 5.0, respectively; it would take over 5 years of income for at least 50% of these populations to afford the city’s median home value. A ratio above 2.6 is considered to be ‘housing burdened.

  • Trend lines of declining homeownership rates for nonwhite racial and ethnic populations mirror the city's overall decline in homeownership. Latinos, however, had steeper rates of decline.

Opportunities

  • Ceiba - LEDC partners have the capacity for further production of environmentally sound and sustainable affordable housing.

  • Leverage possibilities:

    • Public: Neighborhood Transformation Initiative, American Rescue Plan, Inflation Reduction Act. 

    • Financial Institutions: CRA Related Community Benefit Agreements.

    • Expand the affordable housing pipeline by expanding funding and land transfers to CDCs.