Community Ventures is a non-profit developer of affordable housing in Philadelphia. It was incorporated in 1987 with the mission of entering into joint venture redevelopment efforts with neighborhood organizations. Community Ventures works with its neighborhood-based partners over a period of several years, planning and building a critical mass of housing to stabilize and improve the local community.

At every stage of production, from project planning through the sale or rental of the new homes, Community Ventures strives to bring the greatest possible improvement to the neighborhoods in which it works. At the same time, it conscientiously pursues the programmatic and underwriting goals of its lenders, grantors and investors.

Community Ventures is sensitive to the historic context in which it normally builds, and it recognizes that the historic character of Philadelphia's neighborhoods is a great strength. It is also aware of the need, in some cases, to transform parts of Philadelphia's built environment to meet the needs of modern families and to thoughtfully introduce green space to communities of formerly solid rowhouses.

Community Ventures has brought significant change to the Francisville neighborhood of Philadelphia. Located north of Fairmount Avenue and west of Broad Street, this community has benefited from Community Ventures' new construction or rehabilitation of 157 houses and apartments. Most recently, in the summer of 2002, Community Ventures completed the construction of Francisville Village, a complex that includes 28 cottages and duplex apartments designed for seniors as well as 14 four-and five-bedroom houses for families. The Village includes lawns and open space as well as off-street parking. Community Ventures' local partner for its Francisville work has been Francisville Community Development Corporation.

Community Ventures has also renovated 26 houses in eastern South Philadelphia. All of the South Philadelphia houses have been sold to low- and moderate-income families. Its local partners for these developments have been Whitman Council and Weccacoe Development Association, Inc.

In 2006, Community Ventures completed the complete renovation of 19 houses (including 26 housing units) in the West Parkside neighborhood. Working with its local neighborhood development partner, Parkside Association, Inc., Community Ventures completed the project and sold the 19 houses in two phases to moderate-income families. Environmental Atelier provided architectural design services, and DCK Construction and Ironworks, Inc. acted as general contractor. The Philadelphia Empowerment Zone and the Redevelopment Authority providing subsidy financing. The West Philadelphia Financial Services Institution and Bank of America N.A. provided construction financing.

In 2007 Community Ventures completed its largest project to date, Suquehanna Village, made up of 53 new houses and apartments and one commercial storefront on Susquehanna Avenue between Carlisle and 15th Streets in North Philadelphia. The project includes a 20-unit, secure-entry apartment building designed for residency primarily by seniors and handicapped persons as well as six duplex apartments and 27 single-family houses. Architectural services were provided by Kise Straw and Kolodner, and Allied Construction acted as general contractor. The Pennsylvania Housing Financing Agency supported this project with both its PennHomes grant program and an allocation of Low Income Housing Tax Credits. The Redevelopment Authority also provided subsidy financing, as did the Federal Home Loan Bank of Pittsburgh through its Affordable Housing Program (via PNC Bank). The Reinvestment Fund provided construction loan financing.

Also in 2007, Community Ventures began the renovation of seven vacant shells in the Francisville neighborhood. These houses are being sold to moderate-income families and will be completed during the summer of 2008. Philadelphia's Office of Housing and Community Development is supporting this project along with Philadelphia Housing Development Corporation (through its Homeownership Rehabilitation Program). The Reinvestment Fund is providing construction loan financing.

Last updated 4/15/08.

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