The Point Breeze section of South Philadelphia is a traditional row house and industrial neighborhood which has experienced increasing disinvestment since the 1950’s. The neighborhood has one of the highest crime rates in the City. It includes many vacant, boarded-up, or demolished houses. Two community groups, the Point Breeze Performing Arts Center and South Philadelphia H.O.M.E.S., Inc. needed a developer to help improve the neighborhood without displacing current residents.

Athenian has taken on the job of development manager for this project. Together with its clients, Athenian has created a mixed-use neighborhood redevelopment plan that will include an after-school program and performing arts center, a charter high school, new mixed-use retail/apartments, and mixed-income row houses. Support from government and private donors is strong.

Athenian began by securing a $15k grant from the Counselors of Real Estate and a $65k grant from the City of Philadelphia, allowing site plans and a project package to be created and beginning to leverage a $6m Commonwealth matching grant. The project has been added to the list of recipients for New Market Tax Credits. The team is continuing it successful financing program; the project has been universally well-received and supported.