Westpark was built as a superblock, which in 1960s public housing meant cutting the site off from the streets around it. The first phase of its rebuild spends $205 million putting those streets back.
Project Scope
Phase 1 covers 327 units in three buildings: a new 145-unit mid-rise, a 141-unit rehabilitation of the southernmost existing tower, and 41 new homes on the southern campus. Roughly 140 units are reserved for returning Westpark residents and 190 are affordable at 20 to 80 percent of area median income. Construction began in January 2026, with the ceremonial groundbreaking on 2 March 2026 attended by Governor Josh Shapiro, Mayor Cherelle Parker and PHA CEO Kelvin Jeremiah.
The developer is Westpark Community Partners, a joint venture of LMXD and MSquared. Ballard Spahr is lead real estate counsel, Red Stone Equity Partners is syndicating the low-income housing tax credits, and Eddie’s House will operate resident services. Financing is layered the way these deals always are: $21.4 million in USDOT and FHWA infrastructure funding, $2.6 million in Pennsylvania RACP, $3 million from the City of Philadelphia’s DHCD, construction financing from M&T Bank on Buildings A and B and TD Bank on Building C, and PHFA volume-cap LIHTC bonds issued by PHA. No general contractor has been publicly named.
Full buildout triples the site to 1,000 homes, 600 of them affordable, with four acres of new public open space, all-electric buildings and rainwater capture.
Why It Matters
Rehabbing one tower while building two new buildings and cutting new public streets through an occupied campus is three different jobs sharing one site logistics plan. The infrastructure money is the tell: $21.4 million of federal transportation funding inside a housing deal, because reconnecting the street grid and building a pedestrian plaza to the SEPTA 46th Street station is roadwork, not housing work.
The reserved-unit structure also shapes the schedule. Holding roughly 140 units for returning residents means relocation sequencing drives the phasing plan, and any slip on Building A pushes people’s return dates, not just a certificate of occupancy.
Project Team & Details
| Developer | Westpark Community Partners (LMXD / MSquared joint venture) |
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| Owner / Client | Philadelphia Housing Authority |
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| Consultants | Ballard Spahr (Real Estate Counsel)
Red Stone Equity Partners (LIHTC Syndicator)
Eddie's House (Resident Services) |
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| Status | Under Construction |
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| Funding Source | Public-Private Partnership (P3) |
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