Pennrose and project partners today celebrated the start of the Neumann North revitalization, a $20 million initiative to preserve and improve the 67-unit affordable senior housing community in the Fishtown neighborhood of Philadelphia. The rehabilitation is expected to be completed in Q1 of 2027.
Neumann North was originally developed in 2006 as an adaptive reuse of a former hospital, converting the building to its current residential use. As part of the Pennrose acquisition, the existing public housing units were converted through RAD (Rental Assistance Demonstration) to be covered by Project-Based Vouchers, ensuring long-term affordability. Of the 67 units, 4 units will be restricted to households at 30% of the Area Median Income (AMI), 10 units at 40% AMI, and 53 units at 50% AMI.
