PHA advances Chestnut Street redevelopment with Alterra
Philadelphia Housing AuthorityLocal Housing Authority · Philadelphia, PA- Disclosed value
- PHA loan not to exceed $25,000,000; developer costs not to exceed $2,500,000
- From meeting minutes
- Document date
- Oct 20, 2022
The 30-second brief
The Philadelphia Housing Authority Board amended a prior resolution to authorize negotiation of a Development Agreement with Alterra for the redevelopment of 2012-2016 Chestnut Street, including a 99-year ground lease to an LIHTC partnership, a PHA gap-financing loan up to $25 million, and up to $2.5 million in developer pre-development costs.
ALTERRA holds this construction contract with Philadelphia Housing Authority. Its other public contracts on record include work for San Juan Protection District #2 and Selkirks-Pend Oreille Transit Authority.
Term as filed: Ground lease to LIHTC partnership for 99-year term.
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Contract details
- Contract type
- Construction
- Amount
- PHA loan not to exceed $25,000,000; developer costs not to exceed $2,500,000
- Document date
- October 20, 2022
- Term
- Ground lease to LIHTC partnership for 99-year term
- Vendor
- ALTERRA
- Source document
- philadelphia-housing-authority-meeting-minutes-2022-10-20_ebf.pdf (Meeting Minutes)
ALTERRA's other public contracts
More Philadelphia Housing Authority contracts
Questions about this contract
Who was awarded the construction contract by Philadelphia Housing Authority?
ALTERRA was awarded this construction contract by Philadelphia Housing Authority, as recorded on October 20, 2022. The contract value is PHA loan not to exceed $25,000,000; developer costs not to exceed $2,500,000.
How much is the ALTERRA contract with Philadelphia Housing Authority worth?
The ALTERRA contract with Philadelphia Housing Authority is valued at PHA loan not to exceed $25,000,000; developer costs not to exceed $2,500,000, covering construction work.
What type of contract is this?
This is a Construction contract, documented as a meeting minutes record, structured as a not-to-exceed (ceiling) agreement.
Where was this contract approved?
This contract appears in philadelphia-housing-authority-meeting-minutes-2022-10-20_ebf.pdf (Meeting Minutes), dated October 20, 2022 from Philadelphia Housing Authority. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does ALTERRA hold?
ALTERRA may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is Philadelphia Housing Authority currently buying?
Explore Philadelphia Housing Authority's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.