Mayor's Press Conference November 21st 2025

The City of Philadelphia held a press conference on November 21, 2025, led by the mayor and key legislative leaders to announce new enabling legislation aimed at addressing the city's affordable housing crisis. The legislation introduces a targeted 20-year property tax abatement specifically for converting vacant commercial, industrial, government, and school buildings into residential housing units. This initiative is part of the city's broader "HOME" plan to build, preserve, and restore 30,000 housing units, including 13,500 new constructions and 16,500 preserved units. The tax abatement tool is designed to incentivize redevelopment while including worker protections and is expected to generate jobs and increase tax revenues for both the city and school district. The mayor emphasized that this is a surgical, precision tool rather than a blanket benefit for wealthy developers. The legislation was developed in bipartisan cooperation with state senators and representatives and will be presented to Philadelphia City Council for consideration in early 2026. The press conference also highlighted recent state funding increases for affordable housing projects and the importance of intergovernmental collaboration to revitalize the city’s housing stock and support workforce stability.