[NEWS] Project HOME's LGBTQ housing plan dealt a blow in bankruptcy court
From the Philadelphia Inquirer:Â
The impersonal machinery of bankruptcy has dealt a blow to Project Home’s effort to build a $13 million LGBTQ-friendly affordable-housing project on property the nonprofit wanted to buy from the bankrupt North Philadelphia Health System.
NPHS received court permission Tuesday to reject agreements reached before the Dec. 31 bankruptcy to sell five parcels near Girard Medical Center to Project Home for $1.75 million.
That means that the nonprofit Project Home will have to attend a bankruptcy auction set for Aug. 11 to bid against potential buyers who want the properties for more lucrative real estate developments.
“This was not the path that we hoped for, but we remain optimistic,” said Annette M. Jeffrey, spokeswoman for Project Home. “Delay on this project puts critically needed housing in jeopardy for 30 young adults who are homeless or at serious risk of homelessness. We don’t give up when the need is so great.”
