{"id":1004052829,"date":"2012-04-20T13:04:44","date_gmt":"2012-04-20T21:04:44","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=44535"},"modified":"2022-12-08T23:24:00","modified_gmt":"2022-12-09T07:24:00","slug":"paseo-verde-is-philadelphias-newest-green-affordable-housing-development","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/paseo-verde-is-philadelphias-newest-green-affordable-housing-development\/","title":{"rendered":"Paseo Verde is Philadelphia\u2019s Newest Green Affordable Housing Development"},"content":{"rendered":"<p style=\"text-align: justify\"><em>By Veronica Grecu, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/04\/Paseo-Verde.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-44560\" title=\"Paseo Verde\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/04\/Paseo-Verde.jpg\" alt=\"\" width=\"300\" height=\"184\" \/><\/a>Work has begun on Paseo Verde, a multimillion-dollar mixed-use\/mixed-income green development in a distressed neighborhood in North Philadelphia, next to the Temple University Regional Rail Station.<\/p>\n<p style=\"text-align: justify\">Developed by Asociacion de Puertorriquenos en Marcha (APM) and Jonathan Rose Companies, the $47.2 million project is partially financed by the Federal Home Loan Bank of San Francisco (FHLBank\u2014San Francisco), which contributed a $520,423 grant via the Affordable Housing Program (AHP) that supports the development, rehabilitation or purchase of very low- to moderate-income housing. Further financing came from the city of Philadelphia\u2014 which provided $5.5 million\u2014and from private investors and contributors.<\/p>\n<p style=\"text-align: justify\">According to Lawrence H. Parks, senior vice President of legislative and external affairs at FHLBank\u2014San Francisco, Paseo Verde was designed to transform the vacant lot at the corner of 9th and Berks streets into a sustainable development of housing and commercial space, as well as create a foundation for the growing community. The development will include 120 housing units (both market-price and affordable), out of which 17 have been designed for disabled residents. The project is scheduled to be completed in April 2013.<\/p>\n<p style=\"text-align: justify\">Designed by Wallace Roberts &amp; Todd Architects (WRT), Paseo Verde\u2019s eco-friendly features will include blue roofs for storm water storage, green roofs with grass and trees, water gardens, photovoltaic solar panels and the use of recyclable and renewable materials. Despite the tight budget, all these green amenities will support the development in seeking both LEED for Homes and LEED for Neighborhood Development certifications.<\/p>\n<p style=\"text-align: justify\"><em>Rendering courtesy of WRT website<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Work has begun on Paseo Verde, a multimillion-dollar mixed-use\/mixed-income green development in a distressed neighborhood in North Philadelphia, next to the Temple University Regional Rail Station.<\/p>\n","protected":false},"author":258,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1494],"tags":[],"class_list":["post-1004052829","post","type-post","status-publish","format-standard","hentry","category-latest","category-philadelphia"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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