New Construction Workforce Housing Coming to East Poplar

Posted on Nov 02, 2016


Now available to purchase through Houwzer

As part of City Council President Darrell Clarke’s and the Philadelphia Redevelopment Authority (“PRA”) initiative to provide workforce housing, BMK Properties is proud to present for sale thirteen (13) NEW CONSTRUCTION SINGLE FAMILY HOMES located at 942, 948, 950, 962, 981, 983, 985, 987, 993, 995, 998, 1010 and 1012 North Marshall Street in Philadelphia’s East Poplar neighborhood. Developers and Managing Partners Lawrence McKnight and Mo Rushdy from BMK Properties, a subsidiary of the River Wards Group, will provide design vision and upscale specifications. BMK Properties has elected Houwzer, Philadelphia-based free seller listing brokerage, to list the homes.

“This project is a great example of how the private sector, housing agencies, and City Council, can work together to provide new construction homes in destination neighborhoods for hard working Philadelphians,” said Mo Rushdy of BMK Properties.

“I grew up with parents who dedicated their lives serving the city as a Philly cop and a school teacher. So I am fully aware of the struggles that hard working class people go through in order to provide high quality housing for their families,” said Lawrence McKnight of BMK properties. “Ever since we started this company we have wanted to give back to those people who make our communities great. This program allows us to express our gratitude and provide future generations of Philadelphians high quality homes to live in.”

Workforce Housing is designed to provide affordable homes for median-income earners. Eligible buyers can not exceed 120% of the area-wide median. This project will increase the availability of affordable housing in close proximity to Center City and other destination neighborhoods.

A groundbreaking ceremony was held on November 2, 2016 with special guests Council President Clarke, BMK Properties (Riverward Group), PRA and Meridian Bank (Financing Bank).

The New Construction Marshall Street houses will have the following specifications:

  • Range between 1,100 to 1,200 square feet
  • Mix of 2-story and 3-story with large rear yards
  • Minimum of three (3) bedrooms
  • 92% energy efficient HVAC systems and hot water heaters
  • Energy Star stainless steel kitchen appliances
  • BUYER SELECTIONS OF: modern “shaker” style cabinets, granite countertops, hardwood throughout 1 st floor and hallways, carpet in bedrooms, tiled bathrooms
  • Street tree (where allowable)
  • Full 1-year Builder guarantee
  • 10 year tax abatement (applied for)

Unique mortgage options will be available by Meridian Bank for the purchasers of the units. All units are priced at $229,999 and are available for purchase.

workforce-housing-marshall-st-street-view


Recent Articles

10 Tips To Minimize Stress When Selling Your Home

10 Tips To Minimize Stress When Selling Your Home

Posted on Aug 06, 2018

Selling your home without a plan will end up costing you emotionally and financially. Here are ten strategies we suggest that will help get you to the closing table with your sanity intact.

A home is oftentimes the largest asset you have. You invested a large sum of your hard-earned money into it and the price you can fetch for your home can have a significant impact on the future, including your ability to purchase your next dream home. 

What Happens When Philadelphia Tax Abatements Expire? Part III

What Happens When Philadelphia Tax Abatements Expire? Part III

Posted on Jun 22, 2018

This blog is the third in Houwzer Senior Economic Advisor Kevin Gillen's three-part research series examining how successful and beneficial the tax abatement program has been so far. Part one of the series examined the transaction volume after the abatements expired. Part two examined what happened to the properties' market values post-abatement. This final piece uncovers the disparity between what buyers paid for an abatement and its actual value, as well as the reasons behind the disparity.