Philadelphia City Council engaged ESI to analyze data from the first two years of its Neighborhood Preservation Initiative (NPI), a $400 million investment to support affordable housing and commercial revitalization programs across Philadelphia. With approximately $200 million deployed in 2022 and 2023, Council sought an assessment of the economic, social, community, and household benefits generated at the initiative’s halfway point to support and inform continued investment.
ESI analyzed economic impacts across multiple NPI programs using a variety of analysis techniques aligned with the distinct program types. One-time impact programs, such as the Adaptive Modification Program were assessed based on initial investment activity. Programs providing sustained impact over an affordability period, such as the Philly First Home initiative and Low-Income Housing Tax Credit developments, were assessed for both construction-phase and ongoing benefits. ESI also developed detailed case studies documenting the social, community, and household benefits of additional NPI programs, examining outcomes in healthcare stability, legal barriers to affordable housing, equitable business corridor support, disparity gap reduction, and equitable wealth building.
In its first two years, NPI programs had supported 5,500 households and 106 businesses. The initiative generated $527 million in direct economic impact and $347 million in induced and indirect impact, with approximately 11 percent attributed to household savings effects. This activity supported 4,740 full-time equivalent jobs with $270 million in earnings and $11 million in city tax revenues. The case studies documented broader social and equity returns from the investment, informing City Council’s ongoing program evaluation and implementation of the initiative.