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NEWCOURTLAND’S TOWER AT HENRY AVENUE

NEWCOURTLAND’S TOWER AT HENRY AVENUE

The Tower at Henry Avenue is not just an apartment complex but an innovative approach to creating inclusive housing. Located in the former EPPI building at 3232 Henry Avenue in the East Falls neighborhood of Philadelphia, it offers a unique blend of apartments for low-to-moderate-income households, market-rate units, seniors, and units with assistive technology for people with disabilities. In 2015, NewCourtland took possession of the property and developed two earlier phases in connected buildings, which consisted of 85 units of affordable senior housing, a LIFE Center, and commercial space. In this latest phase, NewCourtland invested close to $66 million for a complete building renovation of the Tower. The building will consist of 173 apartments and highly desirable amenities for its diverse tenant base. Amenities include bicycle and other storage options, package drop-off and pick-up, a coffee shop, an ADA-accessible fitness center, extensive outdoor space with a walking trail, a community garden, a dog park, a roof terrace, community rooms/gathering spaces, and parking.

Speakers and Panels

Achieving True Affordability

Exploring Development and Design Strategies

Mo Rushdy

Mo Rushdy

Managing Partner

Riverwards Group

Ori Feibush

Ori Feibush

President

OCF Realty

Kristina Vagen

Kristina Vagen

Regional VP, Development

The Michaels Organization

John Mondlak

John Mondlak

Director of Planning & Development

City of Philadelphia

Sarah Constant

Sarah Constant

SVP, Development

Mission First Housing Group

Susan McPhedran

Susan McPhedran

Director Development

Mission First Housing Group

Mo Rushdy

Managing Partner

Riverwards Group

While completing his Masters Degree from The American University in Cairo, Egypt, Rushdy began his construction engineering career with a position as a Planning Engineer on the construction of the first-ever cement plant in Sinai, Egypt. He then moved to Kuwait for two years, where he served as the planning and project controls Engineer for the construction of Kuwait’s first Olympic stadium.

Rushdy moved to the United States in 2004. He took a position with Toll Brothers and enrolled in the company’s one-year Assistant Project Manager-in-Training program, which typically is followed by a three-year assignment as an Assistant Project Manager. Within just three months of starting the training program, though, Rushdy’s skill set in analyzing and leading teams was recognized. He was pulled out of the training program and given his first assignment: a 128-unit single family development in East Bay, San Francisco. That project was one of 10 jobs in a Master Plan community, and Rushdy used his experience to develop systems and methods to get the development contracted in record time and within budget -- a rarity for a development of that size.

Within months of getting his Assistant Project Manager assignment, Rushdy was promoted to Project Manager. In that new role, he was asked to work with Toll Brothers’ Philadelphia Division to lead an effort to build, sell and deliver phase 1 of Naval Square -- one of Toll Brothers’ highest profile new developments in the city at the time. Within less than a year in Philadelphia, Rushdy exceeded closings projections by over 30% and was promoted again to Naval Square’s Senior Project Manager. By age 27, Rushdy was leading a team of 25 people and responsible for a budget of more than $100 million.

In early 2007, Rushdy was recruited by a regional developer, Westrum Development Company, as General Manager to launch, contract and hire a team for Philadelphia’s largest active adult community: The Arbors at Eagle Pointe, consisting of approximately 400 homes. Following the financial crash in late 2008, Rushdy also was assigned all of Westrum’s Philadelphia developments and took over the acquisition role for Westrum in 2011.

Once the financial crash hit, Rushdy teamed up with Larry McKnight, a colleague from Westrum, to start developing single lot infills in Philadelphia’s Fishtown neighborhood. Their investments in the area have contributed to the revival that the city’s river wards neighborhoods -- Fishtown, Northern Liberties, Kensington, Port Richmond, etc. -- are experiencing.

Now nearly 10 years later, Rushdy and McKnight are business partners at The Riverwards Group, which employs 12 staffers and 30 contractors. What started as five homes per year in 2012 has grown to 110 homes completed in 2019, and plans to deliver 400 homes over the next three years. In 2018, The Riverwards Group brought in revenues close to $35 million.

The Riverwards Group, where Rushdy serves as Managing Partner, has completed more than 60 projects in Philadelphia’s booming riverwards neighborhoods, totaling close to 500 mainly single-family homes delivered over the last eight years. Under Rushdy’s leadership, the company currently is working on the following projects:

Ori Feibush

President

OCF Realty

Ori C. Feibush is an entrepreneur, small business owner, and real estate developer. As President and

Founder of OCF Realty, Feibush has built a successful real estate brokerage that provides

comprehensive services in property management, home buying and selling, and development. His

offices have developed nearly one thousand residential and commercial units throughout the city, with

projects ranging in scale from one-off single-family homes to mid-rise apartment buildings. Over the

years, Ori has given much of his development focus to the struggling Point Breeze community, investing

millions of dollars to rehabilitate the neighborhood's once-vibrant commercial corridor and donating

heavily to various neighborhood groups and schools.

The OCF Realty brokerage has two offices in Philadelphia and another opening soon in Margate, New

Jersey. Currently, OCF is developing 17 individual real estate projects totaling 101 Single-Family

Homes, 630 apartments, and about 200,000 square feet of commercial spaces. Their offices presently

manage over 1,800 rental units across Philadelphia and lease nearly 1,000 units annually. In 2021, OCF

Realty brokered more than $360 Million in real estate sales and anticipate a strong close to 2022 .

Throughout all of this, OCF has cultivated strong relationships with best-in-class contractors, architects,

engineers, attorneys and vendors, ensuring the delivery of an exceptional quality product.

Kristina Vagen

Regional VP, Development

The Michaels Organization

As Regional Vice President of Development for the Northeast Region, Kristina is responsible for oversight for all affordable, workforce, market-rate and student development activities in New Jersey, New York, Delaware, and Pennsylvania. She is also the lead developer on major projects in New Hampshire, Virginia, and Atlanta, GA.

Ms. Vagen has always been passionate about responsible and sustainable development. She began her career serving the most vulnerable populations with permanent supportive housing. Upon joining Michaels in August of 2008, Ms. Vagen joined Michaels and the affordable division and served as a developer and project manager overseeing the financing, construction, and lease up for seven mixed finance developments in Jersey City and Camden, NJ which have been key to the transformation of those cities.

Shortly after transitioning to the Student Housing and Market Rate division of Michaels Development, Ms. Vagen was promoted to Vice President in 2013 and has since led development teams in new conventional and apartment communities throughout the country. In 2023, when Michaels combined all of its development activities, she was promoted to Regional Vice President of the Northeast. She is a role model for Michaels, to both young developers and women, and a mentor. She also is very active in an advisory role to the Corporate Specifications team,

Ms. Vagen received her Bachelor of Arts in Urban Studies from Rutgers University as well as her Master’s Degree in City Planning from University of Pennsylvania. Ms. Vagen has been a member of the Urban Land Institute since 2006 and regularly volunteers at the Community Design Collaborative in Philadelphia and personally, at Crossroads Church in Shamong, NJ where her brother is Lead Pastor.

NewCourtland Inclusive Housing Case Study

Joe Duffey

Joe Duffey

CEO & President

NewCourtland

Aaron Smith

Aaron Smith

Partner & Founding Member

MMPartners

Bill Bostic

Bill Bostic

President & Founder

AXIS

Dyann Roth

Dyann Roth

President & CEO

Inglis

Eli Storch

Eli Storch

Senior Associate

LRK

Anne Fadullon
Moderator

Anne Fadullon

Founding Principal

MAKE Advisory Services

Joe Duffey

CEO & President

NewCourtland

Joseph Duffey is CEO and President of NewCourtland, a Philadelphia-based nonprofit dedicated to improving health equity by accelerating access to coordinated health, housing, and social services in Philadelphia. NewCourtland services include operating a nursing home, senior centers, and supportive housing for older adults, veterans, and previously homeless individuals.

Aaron Smith

Partner & Founding Member

MMPartners

Aaron Smith is a Partner and Founding Member of MMPartners LLC, a real estate development and management firm. He is responsible for all stages of development, including diligence and acquisition, documentation, construction, and stabilization of an asset.

Prior to founding MMP, Mr. Smith was part of Switzenbaum & Associates, where he provided consultation for real estate development and management, specializing in garden-style multifamily and hospitality assets. He is also the founder and serves as the CEO of Bambrey Building Co. (a General Contracting firm—a subsidiary of MMP), specializing in residential and mixed-use development, including adaptive reuse and new construction. Additionally, he founded PSCo in early 2020, a full-service in-house property management company that currently manages MMPartners’ 700+ units.

Mr. Smith graduated from Muhlenberg College with a B.A. in Political Science, has over 16 years of experience in the real estate industry, and has been involved in developing over $400 million of properties.

Bill Bostic

President & Founder

AXIS

As President and Founder of Axis Construction Management, Bill’s focus is developing and implementing high-level long and short-term strategies, making corporate decisions, managing the overall operations, and demonstrating effective leadership. Bill’s decades of construction experience include a former position as Senior Project Manager and Director of Business Development for a prominent design/build firm with extensive experience in high-end office design and construction. Bill establishes the strategy and goals for Axis in collaboration with the upper management team and guides the organization’s growth through career development, community impact, and financial forecasting.

Dyann Roth

President & CEO

Inglis

Dyann Roth is the President & CEO at Inglis, bringing over three decades of nonprofit leadership experience with a strong focus on human services and housing. She is deeply committed to empowering people with disabilities by providing long-term care, accessible housing, and comprehensive support services. Throughout her career, Roth has held key leadership roles where she successfully spearheaded program development and strategic planning initiatives. At Inglis, she has been instrumental in expanding innovative housing solutions that foster independence and community integration for individuals with disabilities. Her expertise in aligning mission-driven goals with sustainable growth continues to position Inglis as a leader in creating inclusive living environments. Dyann holds a Bachelor of Arts from Penn State University and a Master of Science in Organizational Dynamics from the University of Pennsylvania.

Eli Storch

Senior Associate

LRK

Eli is a senior associate for LRK, a national architecture, planning, and interior design firm. He primarily leads new construction and adaptive reuse multi-family projects. Additionally, Eli serves as Chair for the Design Advocacy Group and is on the board of AIA Philadelphia’s magazine, Context.

Anne Fadullon

Moderator

MAKE Advisory Services

Anne Fadullon has nearly 40 years experience in the planning, community and real estate development fields. This experience has been split between the public and private sectors encompassing both market-rate and below-market development across commercial, residential and facilities development. Further experience encompasses leading large-scale organizations and budgets of hundreds of millions of dollars.

Keynote Opening Remarks

The State of Affordable Housing In Philadelphia

Kelvin Jeremiah
Keynote

Kelvin Jeremiah

CEO

Philadelphia Housing Authority

Kelvin Jeremiah

CEO

Philadelphia Housing Authority

Kelvin Jeremiah served as President and CEO of the Philadelphia Housing Authority, the fourth largest public housing authority in the United States and the largest provider of affordable housing in Pennsylvania, since March 2013. Since his arrival at PHA in 2011, first as Director of Audit and Compliance and then as Administrative Receiver, Mr. Jeremiah implemented a comprehensive set of organizational and financial reforms and completed a Recovery Plan that addressed all of the management and governance deficiencies, which led to the removal of the HUD Administrative Receivership and ultimately resulted in the return of PHA to local control. In addition, he forged a collaborative working relationship with PHA resident leaders, which has provided them with greater say within the organization and resulted in the implementation of programs such as entrepreneurship and start-up business training and coaching for PHA youth and residents. During the pandemic, resident leaders worked with PHA staff and Temple University’s College of Public Health to sign up and offer free Coronavirus vaccinations at PHA sites located in some of the most vulnerable zip codes. PHA also partnered with other partners at Temple University to provide improved access to health services during the pandemic. Responding to the recent rise in food insecurity, including youth who no longer could participate in school-based meal programs, PHA partnered with resident leaders to provide free meals to over 8,000 children. Meals were also distributed to senior citizens and families in partnership with Children’s Hospital of Philadelphia and the Philadelphia Corporation for Aging. The early reform actions taken by Mr. Jeremiah laid the foundation for a series of transformational initiatives to preserve and expand affordable housing, revitalize neighborhoods through equitable development, and promote economic and educational opportunities for PHA residents and clients. To date, he has overseen the construction, rehabilitation, and/or preservation of over 4,500 affordable housing units; repositioned and preserved PHA’s public housing portfolio through conversion to project-based assistance under the Rental Assistance Demonstration program that has closed on over 1,600 units at 24 developments as of April 2021; and, leveraged over $1.1 billion in construction activity. This includes over 600 new public housing units completed or under construction at 15 developments sponsored by local partners and over 3,900 long-term affordable units completed or under construction at 61 housing developments sponsored by PHA or local partners. To breathe life into communities in disrepair, developers must focus on creating opportunities for people as well as new housing. This comprehensive approach to holistic and equitable neighborhood development is underway now in Sharswood/Blumberg, where PHA, in collaboration with the City, residents, and an array of committed partners, is revitalizing the neighborhood that has suffered through decades of disinvestment and closures of businesses and services. It was the site of the former Blumberg public housing development, making it one of the City’s most distressed, poverty-impacted communities. In addition to his focus on redevelopment and neighborhood revitalization, Mr. Jeremiah expanded PHA’s partnership with the City to provide up to 500 permanent housing opportunities each year for homeless families and individuals. He also reallocated resources so that over 2,000 additional rental vouchers could be issued and leased up to households from PHA’s years-long wait list. Over this same period, he significantly enhanced PHA’s first-time homeownership programs, which offer the keys to successful homeownership: credit repair, housing counseling, and, in some cases, financial support and incentives to create and build savings. These initiatives have put more than 475 public housing and voucher program participants on the path to homeownership, a primary means of wealth creation.

WHY YOU CAN'T MISS THIS PHILADELPHIA AFFORDABLE HOUSING EVENT:

What You'll Learn:

  • What resources will be available to developers from the local municipality after Mayor Parker has committed to building 30k affordable units in four years?

  • What organizations are driving workforce development and making equity accessible?

  • Philly receives $3.3M in funding from HUD for affordable housing. How will this help spur more development activity?

  • What are some ways the government and city officials can streamline the permitting and approval process for affordable housing?

  • Could HUD's reforms to Manufactured Housing Policy increase accessibility to affordable living in the state?

  • How has the Low Income Housing Tax Credits (LIHTC) program evolved over time and what is its impact on affordable housing development?

  • What potential changes in housing policy at the legislative level can affect the future landscape of affordable housing development and preservation?

How You'll Do More Business: 

Enhance your business by gaining a stronger understanding of Philadelphia's affordable housing sector. Learn more about how to secure available funding, navigate unique challenges and make housing more affordable in 2024. Hear from city officials, policy makers, developers, investors, contractors and architects on the future of housing in greater Philadelphia and the efforts to make it more affordable.

Who You'll Meet: 

Network with a diverse group of industry leaders, including developers, financiers, urban planners, policymakers, and real estate experts. This event is a melting pot of ideas and strategies, fostering connections and collaborations in the Philadelphia real estate market.

For questions regarding content, speaking, and sponsorship opportunities, please email our Event Producer, Joshua Piquion, at joshua.piquion@bisnow.com. To request disability-related accommodations, please contact ally.araco@bisnow.com no later than seven business days prior to the event.

PHILADELPHIA'S 2024 AFFORDABLE HOUSING PROJECTS, ARTICLES & CURRENT EVENTS

Venue

The Tower at Henry Avenue
3232 Henry Ave.
Philadelphia, 19129


Free parking

Get Directions

Agenda

Time Activity
8:15 PM
9:00 PM
Registration & Networking
9:00 PM
9:15 PM
Keynote Opening Remarks
9:15 PM
10:00 PM
Development & Design Strategies For Achieving True Affordability

1) Explore the dynamics of public-private partnerships and how to leverage of these relationships.
2.) Learn about the different government incentives that are available to preserve housing.

10:00 PM
10:45 PM
NewCourtland Inclusive Housing Case Study
10:45 PM
12:15 AM
Post-Event Networking & Cocktails

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