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Company
Background
A
minority controlled not-for-profit community developed corporation,
GGHDC was formed in 1977 to address the neighborhood's concerns
regarding the existence of vacant housing in the Lower Germantown
section of the City of Philadelphia. The mission of GGHDC
is to enhance and rebuild communities within the City of Philadelphia.
GGHDC
has grown to become Philadelphia's largest community development
corporation. Since
its inception, GGHDC has built:
- Hamill
Mill I and II, 56 units of elderly housing
-
Elders
Place, a 47 unit apartment building for the elderly
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Freedom Square, a 20,000 square foot retail center
-
83 units of scattered housing
- The
Blakestone, 19 units of affordable rental housing in Mount
Airy
- Cricket
Court Commons, a 228-unit garden-style apartment complex
GGHDC
manages 465 residential apartments, and has assisted
over 300 households with basic systems repair.
Our renovation and construction activity has converted over
130 blighted homes into attractive homeownership properties.
GGHDC also runs a successful Entrepreneurial Training Program
which has assisted close to 20 entrepreneurs expand or open
new businesses. Currently in development are 10 new construction
and 60 renovated home ownership houses.
GGHDC's
development efforts have resulted in the creation of a critical
mass of new activity that has positioned the area for continued
positive growth. GGHDC has gained experience using a wide variety
of financial resources in the development of its projects, including
HUD Section 202 Capital Advance, Urban Development Action Grants,
PHFA HOMES money and mortgage financing, tax exempt bonds, low-income
housing tax credits, foundation grants and conventional bank
financing.
Coupled
with the social supportive service of Germantown
Settlement, we provide
a holistic approach to community development.
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