Stoneleigh Fellow Vincent Reina spoke to WHYY about the opportunities and challenges presented to the City of Philadelphia as a large cluster of occupied affordable housing is set to hit the city’s market.
Over two decades, private developer James Levin assembled a real estate empire of sorts in West and Southwest Philadelphia, building and rehabilitating hundreds of properties across those neighborhoods to offer as affordable rentals.
Now Levin is selling his vast portfolio, a decision that could have a ripple effect on the entire city given its size and the number of renters relying on it to keep a roof over their head.
At least 3,000 people live in Levin’s buildings. And many, if not all, could be forced to move if those units were to become market rate under new ownership.
