Equity Platforms, Inc., a Public Benefit Corporation that leverages blockchain technology to capitalize community-led urban revitalization projects, is pursuing their latest real estate re-development in Harrisburg, PA. The firm received Zoning Board approval from the city to transform a historic waterfront property, 315 N Front Street, into residential lofts, representing a step forward in the city’s efforts to address its growing need for affordable housing. Their EquityCoin token allows individuals to acquire fractional ownership interests in affordable housing developments.
There was ample reason for the City of Harrisburg to carefully consider the future of the site. Constructed in 1850 and currently operating as an office building, the property carries historical significance, not only housing one of oldest libraries in the state of Pennsylvania but also having the distinction of being a former stop on the Underground Railroad. The rehabilitation project will create eight residential units and a community enrichment center in the space formerly occupied by the library.
The Zoning Board approval speaks to Equity Platforms’ ability to envision and execute on thoughtful revitalizations that provide new housing, create jobs, and enhance local safety, as well as honor and expand upon the building’s notable heritage.
Equity Platforms CEO, Vernon Jay, emphasized the importance of completing a renovation that maintais the waterfront’s integrity. “Our proposal aligns with city, state, and federal laws and will not disrupt the local neighborhood’s character. But equally important, we’re breathing fresh life into a building that holds great significance for the local African American community as well as Pennsylvanians at large. We don’t take that responsibility lightly and look forward to honoring its rich history.”
The timing of the conversion is aligned with the Biden-Harris Administration’s Supply Action Plan, a series of actions recently announced to support the conversion of under-utilized, high vacancy commercial buildings to residential use to create much needed housing that is energy-efficient, near transit, and reduces greenhouse emissions.
Equity Platforms was co-founded by Brooklyn-born entrepreneur and real estate investor Vernon Jay, who has dedicated his life to community-building through multifamily acquisitions and asset management, facilitating over $180 million worth of RE transactions. 315 N Front Street will represent Equity Platforms’ eighth property in the Harrisburg area.
Learn more about Equity Platforms at www.equityplatforms.com