January 15, 2021
Broke in Philly

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Philly developer Chris Rahn shirked deal to build affordable homes as city officials stood by

The deal was simple: Property mogul Chris Rahn got to buy a bundle of 22 vacant, publicly owned lots on the cheap. In exchange, records show he was expected to build homes for the financially needy on eight of them. Five years on, most of those 22 lots — including one of the parcels where he’d agreed to build affordable housing — have been developed into apartments pulling in big rent checks. That’s because the officials who arranged the sale let him shirk his end of the bargain. | From: The Inquirer (Read more.)

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