Filed under: Displacement, Gentrification, Poverty, Race, Real Estate, University City Creep | Tags: creep, Gentrification, home prices, university city, upenn, west philly
Every once in a while something really funny comes across our news desk. Apparently one real estate agent for RE/MAX thinks that home buyers elbowing to get their kids into the UPenn run Alexander school are making a mistake. These special brand of West Philly gentrifiers are looking to get into the Penn Alexander Catchement Area, a strangely mapped zone that qualifies your special kid to get into that special school.
Except the wise folks at REMAX give their top reasons to AVOID the special real estate zone, besides saving money…
“You don’t like the smell of Dirty Diapers on Wednesday mornings. True, the Catchment Area has exploded with the arrival of little stinkers like the one below. If you don’t like the smell of streaky green diapers on garbage day, move a few blocks away…”
Wow. Could that pesky diaper smell actually serve to dissuade people from this elitist neighborhood? We can only hope. However, the Philly Weekly article that inspired our real estate blogger actually had to quote someone using a FAKE NAME because of how much they’re ripping off people.
“We bought our first home, which is in the catchment, eight years ago for $100,000,” says Frank, a property owner/manager who now lives outside the city and doesn’t want his real name used in this article. “When the school opened, we watched our house go up to $150,000, then $200,000. Now it’s worth $400,000. With home prices rising, our rental price is higher. I’m aware that there aren’t many people in the city who could afford to rent our house.“
Local parent Pat Warner says “People have more money,” says Warner. “It’s not a bad thing, necessarily, but it’s different. And it certainly seems less diverse.”
Gee, you think? Gentrifying the neighborhood isn’t bad, it’s just different. Whiter. Richer. Stinkier. Chew on that.
Filed under: Appropriation, Displacement, Gentrification, Race, Real Estate, The Master Plan, UPenn Mortgage | Tags: eviction, expansion, Gentrification, home prices, ucd, university city, upenn, war, west philly
Using the power of the internet, anyone can find this snazzy article about how UPenn is a Zombie Flesh Eating Monster. According to the Philadelphia Business Weekly, the UPenn-subsidized mortgage program was already a smashing success way back in 1998.
“It’s just been overwhelming,” said D-L Wormley, Penn’s managing director of community housing. “It literally is people from every part of the university – professors, the housekeeping department, a vice president, the physical plant. And that’s the thing I’m most thrilled about.”
And what’s good for Penn is good for West Philadelphia’s residents, the banking community there, local construction contractors and neighborhood real estate values.
Part of the new program includes cash for faculty and staff already living in the area bounded by Market Street, 49th Street, Woodland Avenue, University Avenue and the Schuylkill River: Penn is offering up to $7,500 in matching funds toward exterior home improvements.”
Of course by 2004 this program was considered a battle plan against local residents (read: black people.)
“The change in the program is two-fold. First, the geographic boundaries originally set by the program are being extended. The new borders reach out westward to 52nd Street, northward to Haverford Avenue, and eastward and southward to the Schuylkill River. The old boundaries extended only to 49th Street, Market Street and Woodland Avenue in the west, north and south, respectively.
The second alteration of the program consists of a reduction in the maximum size of the loans available to those participating in the program from $15,000 to $7,500.
The forgivable cash loan “can be used for a down payment, to buy down points, or for interior or exterior home improvements,” according to the program’s policy. The loans are forgiven after seven years on the condition that the purchaser remains in residence during that time.”"
Wait, you mean if I own a house for 7 measley years and work for UPenn during that time, I get fifteen thousand dollars for free? That’s right. Doesn’t that mean that there’s some unfair advantage available to UPenn staff?
And of course, there is:
“Penn officials note, however, that it is not their intention to force people from the neighborhood. But, the program gives the Penn-affiliated buyer a clear advantage in the real estate market.
“If two buyers are competing for the same house … the Penn buyer is already $7,500 ahead,” O’Donnell said. “If there is a bidding war, the Penn buyer is going to win.”"
Aye aye, sir! Fire away! Move the negroes out of here! Move in the zombies with cash bonuses that they don’t have to repay!
end the upenn zombie monster parade
