PHILADELPHIA—WinnDevelopment has completed a $14.7 million rehabilitation of Breslyn House in Philadelphia, protecting affordable housing in the city's rapidly gentrifying Walnut Hill neighborhood.
The extensive renovation work was fueled by a public-private refinancing agreement that also preserves the community as federal Project-Based Section 8 Housing until the year 2034.
“As the owners of Breslyn House since 1983, we are proud to invest in this community's future as badly needed affordable apartments in a fast-changing neighborhood,” says Gilbert Winn, CEO of WinnCompanies. “This project is another example of our commitment to maintaining the highest possible quality subsidized housing in urban communities.”
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