Philadelphia’s H.O.M.E. initiative focuses mainly on giving incentives to developers, with less than 15% of funding going to rental assistance. Critics say this leaves tenants without enough protection and call for stronger rules to ensure housing is safe and well-maintained.
Hapco acknowledges the concerns raised regarding the H.O.M.E. initiative’s allocation of resources and the need for tenant protections. However, it’s crucial to recognize that the initiative’s primary aim is to stimulate the development of affordable housing, which, in turn, can benefit tenants by increasing housing availability.
While Hapco supports measures that ensure tenant safety and rights, we advocate for a balanced approach that does not impose excessive burdens on rental property owners. Overregulation can inadvertently discourage investment in the housing sector, potentially exacerbating the housing shortage.
We encourage collaborative efforts between developers, tenant advocacy groups, and policymakers to create solutions that protect tenants without stifling the growth of affordable housing opportunities.