ABOUT US
Philadelphia Accelerator Fund is a nonprofit loan fund created in 2019 to invest in affordable housing and equitable neighborhoods for Philadelphia. PAF provides flexible financing for affordable housing and works to increase access to capital for historically disadvantaged groups, with a focus on Black and Brown developers. PAF’s products and services are designed to be flexible and impactful. They can be used for a variety of project types, including mixed-use and mixed income. PAF strives to do things differently: reviewing projects based on their social impact, focusing on reversing traditional capital access barriers, and providing support services to help developers and projects get the capital they need.
GOALS OF PHILADELPHIA ACCELERATOR FUND
- Provide access to capital for historically disadvantaged groups, with a focus on Black and Brown developers.
- Provide new sources of flexible capital for the production and preservation of affordable housing in Philadelphia.
- Provide financing to fill project gaps and to leverage financing from conventional sources.
- Contribute toward overcoming Philadelphia’s affordability challenges and systemic constraints that have led to unequal distribution of resources.
- Provide business support services for borrowers to ensure they have the resources they need to succeed.
GOALS OF PHILADELPHIA ACCELERATOR FUND
- Provide access to capital for historically disadvantaged groups, with a focus on Black and Brown developers.
- Provide new sources of flexible capital for the production and preservation of affordable housing in Philadelphia.
- Provide financing to fill project gaps and to leverage financing from conventional sources.
- Contribute toward overcoming Philadelphia’s affordability challenges and systemic constraints that have led to unequal distribution of resources.
- Provide business support services for borrowers to ensure they have the resources they need to succeed.
SOCIAL IMPACT
PAF seeks to carry out its mission by offering financial products to increase opportunities for:
- Historically disadvantaged groups with a focus on Black and Brown developers
- Smaller-scale developers
- Nonprofit developers
- Projects with deep housing affordability and/or permanent affordability
- Projects that provide affordability with minimal public subsidy
MARKET ALIGNMENT
The primary project types that will be served by PAF’s products are:
- Naturally occurring affordable and workforce production and preservation
- Mixed-income and mixed-use projects in under-served communities
- Subsidized affordable housing production and preservation
REVIEW OUR 2025-2029 STRATEGIC PLAN
PAF seeks to incorporate flexible terms and underwriting standards, to provide opportunities for projects in neighborhoods with lower property values, and for developers with smaller balance sheets. PAF intends to serve several market segments that each play an important role in Philadelphia’s affordable housing ecosystem.
