PHA ACQUIRES GREENE MANOR APARTMENTS TO PRESERVE AND EXPAND AFFORDABLE HOUSING
For Immediate Release:
PHA ACQUIRES GREENE MANOR APARTMENTS TO PRESERVE AND EXPAND AFFORDABLE HOUSING
PHA will make critical renovations to enhance the livability of these homes while maintaining affordability for residents.
(Philadelphia, PA – March 28, 2025) – The Philadelphia Housing Authority (PHA) announced today that it has completed the acquisition of the Greene Manor Apartments Group, a portfolio of four properties in the Germantown neighborhood, as part of its ongoing commitment to preserving and expanding Philadelphia’s affordable housing stock.
The acquisition includes The Fairmount (357 W. Johnson Street), The Gardens (6439 Greene Street), The Tudors (259 W. Johnson Street), and The Vue (6350 Greene Street)—all situated in Council District 8. The portfolio consists of 381 units which includes a mix of studio, one-bedroom, two-bedroom, and three-bedroom apartments. PHA purchased the properties for $75.9 million.
“These properties represent a significant step forward in our mission to provide quality, affordable housing for Philadelphians,” said PHA CEO Kelvin A. Jeremiah. “By preserving and rehabilitating existing multifamily housing, we can expand options for low- and moderate-income households while ensuring long-term affordability in a rapidly changing market.”
PHA plans to invest in critical renovations to enhance the livability and sustainability of these homes while maintaining affordability for residents. The acquisition aligns with PHA’s broader strategy to acquire and preserve 2,000 units of affordable housing citywide by early 2026.
PHA’s move also aligns with Mayor Cherelle Parker’s priority of creating and maintaining Philadelphians’ access to housing. “As my administration works with City Council to enact our $2 Billion H.O.M.E. program, I applaud PHA for continuing its complementary effort to expand and preserve its housing portfolio,” said Philadelphia Mayor Cherelle L. Parker. “Having been born and raised in the city’s Northwest, I’m particularly thrilled for the Germantown community, which—like many Philadelphia neighborhoods—has a tremendous need for affordable housing. Greene Manor, under PHA ownership, will help to address that.”
The mayor and other city officials have expressed support for PHA’s efforts to expand affordable housing, emphasizing the importance of preserving existing properties and ensuring that residents have access to safe and stable housing.
“I’m incredibly excited about PHA’s acquisition of the Greene Manor Apartments,” said Councilwoman Cindy Bass (8th District). “This partnership is a win for Germantown and a major step toward preserving and expanding affordable housing in our community. I look forward to seeing residents move into these beautifully renovated units and continue to call this vibrant neighborhood home.”
The Parker administration has prioritized housing affordability as a key issue and continues to collaborate with agencies like PHA to address the city’s housing needs. The administration’s housing plan, Housing Opportunities Made Easy, or H.O.M.E., has a goal of building or maintaining 30,000 units of housing through a combination of initiatives and expansions of existing programs.
Property Details:
The Fairmount – 67 units (9 studios, 48 one-bedrooms, 10 two-bedrooms)
The Gardens – 56 units (28 one-bedrooms, 28 two-bedrooms)
The Tudors – 91 units (1 studio, 18 one-bedrooms, 64 two-bedrooms, 8 three-bedrooms)
The Vue – 167 units (33 studios, 79 one-bedrooms, 55 two-bedrooms)
PHA extends its appreciation to the Department of Housing and Urban Development and local officials for their continued support of affordable housing initiatives.
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About Philadelphia Housing Authority
The Philadelphia Housing Authority’s mission is to open doors to affordable housing, economic opportunity and safe, sustainable communities to benefit Philadelphia residents with low incomes. To learn more visit www.pha.phila.gov.
