Employer-assisted housing programs (such as Philadelphia Home•Buy•Now) are designed to:
- Enable employers to better recruit and retain employees by helping these employees become homeowners
- Give employers another tool with which to improve thecommunities surrounding their facilities
- Increase the demand for housing in the City of Philadelphia
The program provides participating employers with a menu of housing-related benefits to offer to their employees. The key feature of Philadelphia Home•Buy•Now is the matching grant from the City of Philadelphia up to $4,000 in targeted areas and up to $2,000 outside of the targeted areas in the City of Philadelphia. This is an unrestricted, dollar-for-dollar match for grants or forgivable loans made by the employers to their employees for home purchases in Philadelphia.
The program also offers onsite homebuyer workshops, discounted housing services and linkages to other housing programs.
After two years of service, George is now eligible for his employer's housing benefits program that provides a one-time $2,000 grant to purchase a home in Philadelphia. The City matches it dollar-for-dollar for an added $2,000. he uses his combined $4,000 for downpayment and closing costs on a new home. Philadelphia Home•Buy•Now is funded by the City of Philadelphia’s Department of Commerce and administered by the Community and Economic Development Department of the Urban Affairs Coalition (UAC).
This program is available citywide with extra concentration in certain target areas within the service areas of major educational and medical anchor institutions.
Cancer Treatment Centers of America
Chick’s Café and Wine Bar
Diamond and AssociatesDrexel University* click here
Energy Coordinating Agency
Episcopal Community Services
Gypsy Lane Technologies
Higgins & Welch Real Estate Inc., LLC
Keller Williams Center City
Saint Joseph's University
Special People In Northeast, Inc.
The Village of Arts and Humanities
*Anchor Institutions with targeted areas