Economic Opportunity

Philadelphia has long held the ignoble title of the nation's poorest big city. While that title has since been assumed by Houston, Philly's poverty rate is still stubbornly high--just under 20%. Mayor Cherelle Parker campaigned on increasing economic opportunity in the city, and her actions so far have focused on primarily on housing and jobs. This includes her $2 billion Housing Opportunities Made Easy, or H.O.M.E., initiative, as well as efforts to make running a business in the city easier.

Initiatives

Buildings, including a food store and a new apartment property, on the 3300 Block of Fairmont Ave in Philadelphia

Housing Opportunities Made Easy (H.O.M.E.)

An aerial view from a rooftop on Magee Avenue in the Cheltenham neighborhood of Philadelphia, Pennsylvania, United States February 22, 2025

Progress Updates

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Training program for minority developers will help fuel Mayor Parker’s housing plan

(WHYY) Launched in 2022, the Minority Developer Program is designed to make real estate development more equitable in Philadelphia, where white-owned companies are behind the overwhelming majority of ground-up developments.

It's now seen as a key program to help build homes for Parker's signature H.O.M.E initiative, which has a target of creating or preserving 30,000 units of housing. 

More than 1,000 of those homes will be built through Turn the Key, which entails the Philadelphia Land Bank selling city-owned parcels for cheap. The training program aims to prepare working developers to deliver on contracts to build and sell brand new properties on city-owned parcels.

 

Relevant Neighborhood
City-Wide

Mayoral priorities include expanding access to housing and jobs 

In her 2024 inaugural address, Mayor Cherelle Parker pledged to: 

  • Create and preserve affordable housing
  • Streamline the city's Land Bank process
  • Remove red tape with "PHL Open for Business" initiative
  • Remove college degree requirements for many city jobs

Key offices and efforts

  • H.O.M.E Housing Plan, which the administration said would produce and preserve 30,000 housing units for Philadelphians across levels of affordability.
  • PHL Open for Business, an effort to reduce cost and complexity for business owners navigating city government

Key quotes

  • “Beyond public safety, there is no more pressing issue for Philadelphia than access to housing,” said Mayor Cherelle L. Parker. “We are ready now [to move forward] as One Philly, A United City!” (City Council address, Mar 2025)

  • "I made it clear before I took the oath of office that all Philadelphians must have access to the path of self sufficiency that includes access to 21st century, world-class education; affordable, luxury housing; and the opportunity to do business in Philadelphia." (State of the City, Dec 2024)

Related News

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Mayor Cherelle Parker speaks during City press conference about housing on September 23, 2026
The Philadelphia Citizen

Putting Parker’s H.O.M.E. Plan to the West Philly Test

Thousands of West Philly residents fear displacement from affordable homes owned by one landlord. Mayor Parker’s $2 billion housing plan might help to...
Philadelphia Mayor Cherelle Parker delivers her budget address to City Council on March 12, 2026. (Emma Lee/WHYY)
WHYY

Three years into Mayor Parker’s term, her administration has created and preserved more than 16,000 homes

Mayor Cherelle Parker’s administration is halfway to its goal of building and repairing 30,000 homes in Philadelphia, according to a city dashboard...

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Solutions Progress Report

The Solutions Progress Report tracks updates on the key issues and initiatives of Philadelphia Mayor Cherelle Parker's administration.