Daily News | Philly City Council is considering new requirement for affordable housing
In the midst of an otherwise sleepy autumn City Council session, Council President Darrell Clarke has introduced a bill that would require developers building multifamily housing around North Broad Street to provide units for lower-income residents in their projects.
Laws that require developers of new construction to provide housing affordable for people with low to moderate income are referred to as “inclusionary zoning.”, mostly in areas with super-hot real estate markets such as New York and San Francisco. The bill would also allow for the developer to build units for higher-income residents if they offered for-sale units instead of rentals. The exact rental restrictions would evolve over time to keep up with inflation.
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