In Urdu, Tajdeed translates to “reform,” or “renewal.” The Arab American CDC and Conifer LLC had this word in mind when they set out to develop the Tajdeed Residences, a development that will provide 45 units of affordable housing to families in the Kensington section of Philadelphia. The project developers hope that the families who inhabit the Tajdeed Residences will experience renewal in their lives, as well as continued renewal to the Kensington neighborhood.
RHLS was thrilled to celebrate the building’s grand opening on Wednesday, October 21st. Located at Cadwallader and Oxford Streets, the development includes three buildings and 60,000 square feet of living space for its new tenants. The two, three, and four-bedroom apartments, community room, computer lab, and community garden will provide not just housing, but a home for families in need in the area. The 8,000 square foot green roof will also work to keep energy usage and costs sustainable, further driving home the concept of “renewal” weaved throughout this project.
In order to bring this project to completion, Staff Attorney Kim Dolan supported Arab American CDC with a wide range of legal services, including preparing and negotiating development services agreements and loan documents, preparing corporate resolutions and legal opinions in preparation for loan closing and advising the CDC generally during the development process.
Kim thinks this project is particularly important because it, “preserves affordability in a distressed neighborhood on the cusp of rapid gentrification,” and “it is helping a community-based CDC get its feet wet on the first of what will hopefully be many more developments aimed at low-income residents in the CDC’s catchment area.”
The Arab American CDC works to “empower the Arab-American community in the Philadelphia metropolitan area, promote its economic development, and combat racial, ethnic, and religious discrimination. The AACDC works to serve the complex needs of the estimated 30,000 to 50,000 Arab-Americans living in the five-county area.”
RHLS is proud
to be part of yet another project creating housing for low-income residents of Philadelphia! As Kim said, we hope this will be the first of many development for the Arab American CDC!
Check out this article in the Philadelphia Business Journal if you’re interested in learning more about the development.