History as a housing affordability tool | Real Estate Newsletter

In Philadelphia, one of the arguments against the historic preservation of buildings is that it makes homes less affordable.

But architecture critic Inga Saffron makes the case that preservation isn’t the villain in the story of Philly’s declining affordability.

With examples, she argues that developers can create more housing for less money “without sacrificing the city’s heritage.”

Keep scrolling for that story and more in this week’s edition:

— Michaelle Bond

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Architecture critic Inga Saffron noted in a column this week that a bunch of factors working together are making homes less affordable. They include land-use regulations, costs of construction materials, and interest rates.

Pro-housing activists also argue that Philly’s historic preservation laws restrict the supply of affordable homes.

But Saffron said preservation might help solve some of the city’s housing problems by adding density. She cited a report commissioned by the Preservation Alliance for Greater Philadelphia that found that preserving older buildings protects housing affordability.

Saffron pointed to projects that added homes while protecting historical buildings.

In one, an architecture and design firm turned a historic Greek Revival mansion into a 32-unit building.

Keep reading to learn more about that project and what Saffron calls “the untapped density in Philadelphia’s historic buildings.”

Centre Square is Philadelphia’s biggest office complex, with more than 1.7 million square feet of office space.

You may know it as the “Clothespin building” for the giant pop art sculpture outside.

The property was hit hard by the remote-work wave sparked by the pandemic. By the end of last year, Centre Square had added another superlative: the office building with the highest vacancy rate in Center City.

Now, a developer wants to reimagine Centre Square. According to the plans, it’ll still have some office space. But its two towers will also have hundreds of apartments and luxury hotel rooms.

The partnership behind the proposed redevelopment is responsible for other recent high-profile projects in the city. The developer says “we … are rejuvenating architectural gems that are functionally obsolete” amid “a real estate crisis.”

Keep reading to learn about Centre Square’s history and find out why the building scared off other developers who considered buying it.

Since Jasmine Williams was a kid, she’s always liked art and design. Now, she’s an interior design consultant.

And she’s brought her knowledge and personal style to her 1,000-square-foot apartment in West Philly.

Williams keeps it simple and classic by mainly focusing on two colors: black and white. She took inspiration from features that were already in her apartment, including the black cabinets and white countertops in her renovated kitchen.

She added black furnishings and had one wall and a set of folding doors painted black. Most of her walls are white and so are rugs, ottomans, throw pillows, and other accessories.

Peek inside Williams’ apartment and find out how she ended up at Garden Court Towers.

Do you know the location this photo shows?

📮 If you think you do, let me know.

Shout-out to Lars W. for knowing that last week’s quiz featured a photo of the Rail Park in Philly’s Callowhill neighborhood.

I thought that one would have been easier. Maybe the snow in the photo threw you off. Or maybe it’s just because I know it well. We’ve written about it a lot.

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I’ll leave you with a story that’s only kinda related to homes, but it’s an interesting read. My colleague Zoe Greenberg wrote about people who dig for artifacts buried in Philadelphia’s centuries-old outhouses.

Philly’s full of fascinating people.

Enjoy the rest of your week.

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