Mid Penn Bank Financed Philadelphia Housing Project

Construction has begun on 10 new affordable homes in the Brewerytown neighborhood of Philadelphia.

Updated on Oct. 4, 2026 in Construction

Isometric editorial illustration of red clay bricks and steel rebar, representing urban affordable housing construction in Philadelphia. — Mid Penn Bank has committed $1.9 million in construction financing to develop 10 affordable homes in Philadelphia's Brewerytown neighborhood. AI Illustration. Upload story photo >

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Mid Penn Bank has provided $1.9 million in construction financing to support a $2.38 million housing development project. The initiative will add 10 new homes to the Brewerytown area.

Why it matters

This development utilizes the city's Turn the Key program and is classified as Community Reinvestment Act-qualified. It aims to increase affordable homeownership opportunities for residents in the local area.

The development consists of 10 homes each measuring 1,200 square feet, with an anticipated sale price of $280,000 against a projected market value of $385,000. Philadelphia Accelerator Fund and developer equity accounted for $451,000 of the project costs.

The players

Mid Penn Bank

Mid Penn Bank is a financial institution that provided $1.9 million in construction financing for the project.

Jordan Parisse-Ferrarini

Jordan Parisse-Ferrarini is the lead developer responsible for the construction of these 10 new homes.

Philadelphia Accelerator Fund

The Philadelphia Accelerator Fund is an investment entity that provided capital to help fund the development.

The details

The project is located at 1424 N. Hollywood St. and is being led by developer Jordan Parisse-Ferrarini. These units are specifically designed for the Philadelphia Turn the Key program, which facilitates the development of housing on publicly owned land.

Groundbreaking took place on September 30, 2026.
Construction is expected to be completed in spring 2027.

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Market Landscape

The project is classified as Community Reinvestment Act-qualified, demonstrating how developers are increasingly leveraging federal lending mandates to secure capital for neighborhood-level projects. This move highlights a broader trend of banks partnering with local development funds to address urban housing shortages.

Local residents looking for homeownership opportunities may soon access these 1,200-square-foot units priced at $280,000. This project creates a path to equity for buyers in Brewerytown, where market values are currently projected at $385,000.

The takeaway

This project illustrates how public-private partnerships can bridge the gap between construction costs and accessible home prices in urban centers. Prospective buyers should monitor local municipal programs to identify similar future developments.