Effective Monday, March 16, 2020 and until further notice, Econsult Solutions is having staff members work from home. This form of “social distancing” has been implemented with the safety of our staff and the community at large in mind. We have instituted all necessary remote-working features and remain open for business, hard at work on current engagements and eager to hear how we can support your needs.
These are extraordinary times. The global pandemic has reached every aspect of every life in every corner of the world. More than ever, ESI stands ready to apply economics, strategy, and insight to help you move forward. Be on the lookout for additional content on our blog, Present Value. Together we will emerge stronger and wiser.
Based in West Philadelphia, ACHIEVEability develops and manages affordable housing, provides a wide variety of supportive services to families and the community, and engages in community organizing, commercial corridor development, and community-based participatory research in partnership with local universities. Econsult Solutions, Inc. (ESI) was retained by ACHIEVEability to estimate the impact that the nonprofit has on the City of Philadelphia and the Commonwealth of Pennsylvania, in addition to individuals and families associated with the program. Special focus was placed on quantifying ACHIEVEability’s impact by examining property values, construction work, operating expenditures, programmatic impact and its effect on retail corridors.
ESI measured the impact that ACHIEVEability’s construction activities have on nearby property values, and determined that houses within a quarter-mile of an ACHIEVEability-developed home appreciated at a rate 1.4 percentage points higher than the average house in West Philadelphia.
ESI estimated the total economic impact associated with ACHIEVEability’s housing development activities, using an input-output model, and determined that ACHIEVEability’s efforts stimulated economic activity, resulting in jobs created in construction and in other industries, and tax revenues generated.
Overall, ACHIEVEability’s work generates a significant economic return to the families it serves, in the form of increased earnings and decreased reliance on public subsidies. It also generates a significant economic return to the City and the Commonwealth as a whole, in the form of household wealth gains, jobs created, government expenditures on public subsidies reduced, tax revenues generated, and strengthened retail corridors.