TPP Fund will drive social, environmental and economic impact to revitalize an underserved Philadelphia neighborhood
The Tioga neighborhood is home to a 95% minority population living on low incomes or in poverty, amidst vacant houses, stores and lots. The leaders of TPP Capital Management Group, LLC envision a different Tioga within 8 years: an appealing community in which people of varied income levels live, work and play.
In addition to the planned investor-funded real estate development, TPP Capital is actively pursuing local partnerships to catalyze maximum social, environmental and economic impact. Specifically, TPP Capital seeks to partner with the City of Philadelphia, community groups, economic development groups, educational institutions, nonprofit organizations, businesses and corporations on projects that enhance quality of life in Tioga.
TPP Fund will enter into agreements with community partners and established operators to take action in six core areas of impact, as described below.
Representatives of parties interested in exploring such partnerships are invited to contact TPP Capital Vice President Alexis Miles, Director of Social Impact, at 206-940-0002 or firstname.lastname@example.org.
History of Tioga
by WHYY's PlanPhilly
"Tioga was named after the Native American word for the place where a stream or river forks in two different directions. Between 1700 and 1850, the area was mostly rural farmland and a passageway between Germantown and Philadelphia.
By 1854, Tioga moved within the Philadelphia city limits. During World War II (1939-1945), the area experienced its first economic and industrial boom in conjunction with the rest of Philadelphia.
By the 1950s, the area seemed to have peaked economically. It began falling prey to the infamous “White Flight,” leaving many buildings abandoned and businesses destroyed. Today Tioga continues to fight against drug abuse and crime with active community organizations and involved citizens."
Through the TPP Fund, TPP Capital will help the Tioga community create a bright future.
Six Core Areas of Impact
TPP Capital is committed to six core areas of impact:
To address the housing affordability crisis, the TPP Fund will designate at least 10% of the units (excluding designated senior housing) as workforce housing that meets criteria established in Philadelphia City Council’s Workforce Housing Initiative. Workforce Housing is high-quality yet affordable to middle-income workers. Typically, they earn too much to qualify for subsidized housing, but not enough to afford market rate apartments or home ownership in the communities near their place of employment. In addition, TPP Fund will work with strategic partners to develop its own workforce housing program –similar to HUD's Good Neighbor Next Door program – with incentives for health care workers, teachers, police officers, firefighters, emergency medical technicians, active duty military and veterans.
Food & Nutrition
To address the need for fresh food in a "food desert," TPP Fund will catalyze two major projects. First, we intend to bring an indoor, vertical urban farm to the area. The farm may involve adaptive reuse of an abandoned factory. Second, we intend to develop a 60,000SF fresh food hub on the ground floor of a mixed use building on N. 17th Street, the designated community commercial corridor. The hub will include a food hall that rents retail space to small businesses and a farmers market selling fresh produce, fish, meats and healthy prepared foods. We envision that the hub will become an anchor for redevelopment of a small business retail corridor along N. 17th St.
Jobs & Social Enterprise
To create jobs and attract social enterprises, TPP Fund intends to catalyze several major projects. We will work with community partners and established operators to create an indoor, vertical urban farm, a commercial kitchen and a café inside the fresh food hub. Selected operators will train and employ local residents, and teach leadership and life skills along with job skills. We also plan to provide grants that help socially responsible minority-, woman- and veteran-owned small businesses to open retail outlets in the fresh food hub. Grants to qualifying business owners will cover architectural design fees and the build-out of their retail space. In addition, TPP Fund will create co-working office space that attracts companies and individuals working in health, research and technology.
To ensure wealth-sharing across the community, TPP Fund is catalyzing a community development ecosystem in which land is purchased from minority-owned partnerships. Partnerships acquire land by pooling funds from low-to-moderate income, unaccredited investors, each of whom invests as little as $2,500. Investors profit when the partnership obtains zoning and use permits enabling it to sell TPP Fund land that is shovel-ready for development to its highest and best use.
Child & Adult Education
To address the education needs of children and adults in the area, TPP Fund anticipates 1) Partnerships that will lead to a university-assisted PreK-8 public school in the neighborhood; and 2) Partnerships that will result in the development of a culinary medicine and nutrition education program utilizing the commercial kitchen in the fresh food hub. A major goal of the education program will be to empower people who live, work and visit in the area to make healthier food choices and prepare nutritious meals at home.
Energy & Environment
To address the need for energy conservation and minimal environmental impact, every TPP Fund building will be constructed and equipped as follows: 1) Energy-efficient insulation, triple-pane windows, LED lighting, and water-saving faucets and shower heads; 2) Interconnected appliances, including a smart hub refrigerator, dishwasher, washer and dryer, and an induction range; 3) High-efficiency heat pump and hybrid electric water heater; 4) Smart home automation, including a home comfort system with a Touch thermostat and smart security, including locks, lights and cameras; and 5) Electric Car Charging Station (where applicable).
As a further demonstration of our commitment to energy efficiency and innovation, TPP Capital will work with local, regional, national and international partners to design and build a “home of the future” in 2019. The Gravitas Glass House – a 5,832SF, 4-story single-family residence to be constructed in the Tioga section of Philadelphia – will showcase the world's most advanced home technologies. It will double as a national educational resource for builders, architects, designers, manufacturers, city agencies, universities, schools and homeowners.