With affordable homes already scarce, here’s my plan to preserve Philly’s aging public housing stock

In an era when the stock of public housing is aging rapidly, and renovation funds are slow to come from Washington, Philadelphia is heading for a devastating public housing crisis. A fundamental shift is needed in how we approach public housing that will benefit future generations.

Many residents live in outdated apartments that have been patched up repeatedly. As the leader of the Philadelphia Housing Authority, I’ve sounded the alarm that nearly two-thirds of our portfolio is more than 70 years old and in need of substantial capital investments. Our increasing backlog of capital and maintenance needs is estimated at $2 billion.

We’re not alone: Most major housing authorities across the nation face this crisis. The current political climate makes it unlikely the federal government will provide the much-needed subsidies to address the obsolescence of our housing. The consequences of inaction could be heartbreaking for residents and endanger the fabric of their neighborhoods.

For that reason, PHA is embarking on an ambitious $6.8 billion strategy to preserve and expand affordable housing in Philadelphia for generations to come. This effort complements Mayor Cherelle L. Parker’s larger effort to create and preserve 30,000 units.

The core of the PHA strategy is to move from the traditional public housing model — in which the housing authority owns and maintains the properties — to the Housing Choice Voucher Program (formerly known as Section 8 or Project-Based Rental Assistance).

The reasons this shift makes sense are many. Housing choice vouchers offer a more reliable and consistent funding stream than traditional public housing. The vouchers are also more conducive to securing financing and raising private equity to address capital needs, build long-term reserves, and construct or acquire new housing.

Another advantage to this strategy is that it would allow PHA to add approximately 7,000 new units to its housing portfolio — a 50% increase in the number of units available. This will be accomplished primarily through the acquisition of existing properties, a process we began last year with the purchase of the Brith Sholom senior development. Through this expansion, the nearly 105,000 low-income Philadelphians on our wait lists would get housing.

We vow to accomplish this focus on vouchers while maintaining protections for residents. All residents will be guaranteed the same tenant rights and protections they have currently. If relocation is required, they will be guaranteed an absolute right to return. We will not waver from those safeguards.

PHA will not approach this strategy shift haphazardly. We have witnessed the success of this same approach elsewhere — in New York City, Baltimore, and D.C. We plan to replicate best practices from each and bring the benefits to Philadelphia.

PHA is prepared for this change. We have converted or developed with partners more than 2,000 project-based voucher units. The residents at these converted sites have the same set of protections and rights as public housing residents.

The current political climate makes it unlikely that the federal government will provide the much-needed subsidies to address the obsolescence of our housing.

To partially fund this initiative, PHA has earmarked more than $200 million in reserves the agency intends to leverage with low-income housing tax credits, private financing, bonds, and other available funding tools. When combined with its other initiatives, PHA will preserve and/or build over 20,000 units over the next eight years at a cost of approximately $6.8 billion.

PHA’s strategy is practical and sustainable. It meets the needs of its existing residents and those who need an affordable housing opportunity. We’re committed to working with our federal, state, and local partners to ensure alignment with their housing policy and funding initiatives.

Great transitions are often accompanied by challenges. Rest assured, PHA is taking adequate steps to protect the rights of its tenants, to ensure these affordable housing units remain affordable long-term, and to identify partners who share our commitment to decent, safe, and high-quality affordable housing that meets the needs of Philadelphians.

This is a city with more than 130,000 renters making less than $30,000 annually and paying more than 50% of their income on housing costs. We simply can’t afford to wait for preservation funds to arrive. We must be bold and act now, for the great neighborhoods of Philadelphia — and their current and future residents.

Kelvin Jeremiah is president and CEO of the Philadelphia Housing Authority.