Chariot Companies' CEO and Mount Airy Native John Henry Plan $1 Billion in Development and Revitalization in Philadelphia

PHILADELPHIA, Oct. 22, 2013 /PRNewswire-USNewswire/ -- On the Mount Airy block where John Henry grew up, neighbors remember him as extraordinary. By age 15, he had earned a scholarship to attend the Mercersburg Academy, a prestigious boarding school, and by 19, he had become a star college athlete at Bucknell. Today, John Henry is a successful real estate developer, businessman and entrepreneur whose vision will position Philadelphia as a world energy leader and community development groundbreaker, both of which scale global competitiveness and serve as a model of innovation.

"By positioning Philadelphia as an innovative, world energy leader and community development groundbreaker, we will generate robust economic benefits at the local, state, and national level," Henry said. "Here in Philly, we see this as an opportunity to support working class Philadelphians by preserving and creating an estimated 12,200 jobs, investing in new housing, and financing small and disadvantaged businesses. Our innovative Utility Trust Fund will lower utility costs through sustained community reinvestment."

The establishment of the Utility Trust Fund through no new taxes or enabling legislation will streamline assistance to working class families. Chariot is working with stakeholders to help achieve permanent funding solutions at the federal, state and local levels to provide increased assistance to working class families for bill-payment assistance.

Chariot will infuse an estimated $1 billion in total development costs for the revitalization of working class neighborhoods in Philadelphia. "Our vision and plan to accomplish this redevelopment strikes a balance, provides clear expectations, offers solutions, and ensures a quality 'Legacy Project' for a Philadelphia poised to become the next global city," Henry said. 

This vision includes the development of Chariot Clean Energy Center and Chariot Landing. The energy center will be a one million square foot technology-based business center designed to be a catalyst for the redevelopment and expansion of a knowledge-based workforce in Philadelphia.

The venture leverages private investments to create local jobs, apprenticeships, scholarships, and vocational training programs while diversifying the region's economic base. Chariot Landing will feature a 1,050-unit residence and further addresses the current affordable housing shortfall in Philadelphia.

Learn more at http://www.charioturban.com and view Henry's introduction video at http://tiny.cc/chariotcos.

About the Chariot Companies

Headquartered in Philadelphia, PA, Chariot Companies, LLC is a minority-owned, mission-based diversified Community Development Entity ("CDE") with core business platforms focused on revitalizing low-income communities throughout the United States. Chariot's team of executives, board members and advisors brings together civil rights leaders, finance, oil & gas pioneers and grassroots coalition builders.  At the heart of the Chariot Companies' business strategy is a social mission to create economic growth and development in underserved communities, which will ultimately lead to job creation and sustainable growth in housing, commercial, education and community services.

Chariot Urban RE, LLC is a Community Development Entity (CDE) certified by the CDFI Fund, a division of the U.S. Department of Treasury.

Chariot Energy, LLC supports alternative energy sources and is committed to implementing alternative energy strategies into targeted working class communities.

Chariot Urban Development, LLC is a real estate development company providing entitlement, design, development, land planning, financing, and other services.

Chariot Urban Advisors, LLC offers a wide range of consulting services that include property and entry level underwriting, valuation and financial analysis, and buy-and-sell-side mergers and acquisitions.

We understand the underlying social conditions and the importance of developing a comprehensive view of the problem, the people affected, the barriers to progress, the options for driving change, and the parties that can help by providing the right product for each targeted community in which we operate. Each community has different needs and wants, and it is precisely for this reason that we recognize that our success depends upon our, acceptance in, and support from, the stakeholders in the communities we serve.

Contact: Patrick Pannett, [email protected], 202-258-2311

SOURCE Chariot Companies