Consisting of 14,000 SF of newly constructed mix-use residential and commercial development will house 12 Residences and 2 Commercial Spaces in the heart of the Baltimore Avenue Corridor. 5050 will also house 30+ solar panels, use no natural gas and only high-efficient electric based systems. Ryan Spak will present the Spak Group's 5050 Baltimore Avenue project, which was designed from the beginning with one mission: Be Philadelphia’s First True Inclusionary Housing Project.
Spak Group is a Community-based Development company that integrates ownership, development, construction and management. Our Mission is to rehabilitate, reposition and revitalize highly distressed, under-utilized properties in neighborhoods with a focus on cultivating “walkable” commercial corridors, building stabilized properties that serve the community and creating homes for our neighbors.
Our experiences as a local business have helped shape the evolution of our work and bring about Philadelphia’s First Inclusionary Housing Development without public subsidy: 5050 Baltimore Avenue. A newly constructed mix-use development where 25% of the residential units are priced below 60% AMI and the commercial spaces are leased to women and minority-owned, local businesses. The Spak Group business model of equitable development built on “doing financially well, while doing communal good” is being expanded next with the WADE Flats development – a two (2) phase, 53-unit development where all units are 80% AMI or less.