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Letters: Diversity lost in One Water Street deal

ISSUE | PHILA. DEVELOPMENT Diversity lost in One Water Street deal I thought the idea behind giving developers a zoning bonus allowing taller buildings in exchange for a certain number of affordable-housing units was to encourage people of various income levels to come in contact with each other. Such a policy would discourage isolated pockets of wealthy and low- and moderate-income families.

One Water Street, overlooking the Delaware River.
One Water Street, overlooking the Delaware River.Read moreInga Saffron / Staff
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ISSUE | PHILA. DEVELOPMENT

Diversity lost in One Water Street deal

I thought the idea behind giving developers a zoning bonus allowing taller buildings in exchange for a certain number of affordable-housing units was to encourage people of various income levels to come in contact with each other. Such a policy would discourage isolated pockets of wealthy and low- and moderate-income families.

The deal the city reached with PMC Property Group, builders of the 250-unit One Water Street apartment building on the Delaware waterfront, contributes to just the opposite ("Developer to pay for affordable housing," Saturday). The $3.75 million PMC will pay to the city's Housing Trust Fund will be for housing for low- and moderate-income residents that will be built elsewhere.

The only winner seems to be the developer, which will have 25 luxury apartments to rent at market rates instead of subsidized rates. PMC can tell prospective renters they will be living with people just like them.

The city loses by not sticking to the spirit of the law.

|Kenneth Veith, Philadelphia, warrebn.veith@verizon.net

Developer played the Trump card

Inquirer architecture critic Inga Saffron has once again done the city a great service, reporting on how the developer of

One Water Street reneged on its promise to include 25 affordable-housing units in its luxury apartment building in exchange for being allowed to add five stories and 30 units.

Rather than holding the developer's feet to the fire, the city is allowing PMC Property Group to pay $3.75 million for affordable housing to be built elsewhere. And renters can begin moving into their high-priced units immediately.

PMC broke its promise, setting a bad precedent. It encourages other developers to promise anything for permission to build and then renege.

Twenty-five families will live somewhere else in the city instead of in a sparkling, new, 16-story building on the Delaware waterfront. And affuent tenants will be able to occupy their new digs assured they won't have to rub elbows with 25 low- and moderate-income families.

Donald Trump brags about how he changes deals to his advantage by holding lenders hostage. The city was held hostage in this One Water Street deal. Philadelphia had the chance to do the right thing and blinked. Twenty-five families lost, and the city lost by suppressing economic diversity.

|Ted Robb, Haddon Township