Philadelphia leaders broke ground yesterday for a new residential community in Port Richmond.
Somerset Station will have 535 units and will be the first multi-family development in the state of Pennsylvania to use Commercial Property Assessed Clean Energy Funds.
‘C-PACE’ is a financing program established in 2018 that allows for buildings to be built more environmentally efficient, and less expensive to operate.
Notable people such as Major Jim Kenney, City Council President, Darrell L Clark, and others spoke at the event.
“Every resident, no matter their zip code deserves access to stable affordable housing, safe clean streets, and neighborhood assets like parks, recreation centers, and libraries. It is wonderful to see developers have a commitment to be part of the affordable housing solution and I want to recognize Riverwards Group for making sure everyone has a chance to live in safe quality homes,” said Mayor Kenney.
You can find more information about the property, here.