PHILADELPHIA, Nov. 16, 2016 /PRNewswire/ -- Raza Properties is in the planning stages of affordable, luxury living space in the Sharswood area, which is in close proximity to Temple University, Girard Ave, Brewerytown and the Center City business district.
Born and raised in the Philadelphia area, CEO Rahil Raza grew up with a passion for real estate development and creating opportunities for hardworking Philadelphians. In the next two years he estimates that Raza Properties will deliver $25 million in high-quality, affordable, multi-family and mixed-use properties. His mission is to meet the needs of Philadelphia's growing middle class, who are being priced out by extravagantly high rent in Center City. "Our tenants are a very diverse, intelligent, driven clientele that want to enjoy all the city has to offer. They feel the rent in Center City is unreasonable and I tend to agree with them."
Recently, word of proposed zoning changes in the area requiring low density suburban features in the fifth most populous city threaten to hinder the efforts of Raza Properties and other developers. Furthermore, the proposed down-zoning would be detrimental to the Ridge Avenue commercial corridor in Francisville and Sharswood. Rahil Raza explains, "Commercial corridors are filled with small, local businesses that do not have the marketing resources of large retailers. To be successful, the immediate area must be densely populated.
With the growing need for middle-income housing, down-zoning would make it nearly impossible for developers such as Raza Properties to accommodate the needs of young professionals and families and support local businesses. The work of Raza Properties is not just about real estate development-- it is a company "committed to creating jobs for local workers, bringing industry back to diminished areas with great potential, and allowing hardworking, middle income people opportunities to breath in the life of the city."
To oppose this change in zoning or to learn more about the proposed restrictions contact your district councilperson, reach out to Council President Darell Clarke's office, or attend the Brewerytown-Sharswood Communiy Civic Association meetings at the Camelot Academy Auditorium on the third Thursday of the month.
About Raza Properties
Raza Properties and subsidiary companies were formed to enhance the Philadelphia rental market through the development of affordable luxury apartments in appreciating areas. Striving to be not only the largest developer of multi-family and mixed use properties in the Philadelphia area by 2030, Raza Properties stands proud as a significant contributor to the growth and well-being of local communities and the residents who reside there.
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SOURCE Raza Properties