City Life at a Lower Price
May 21, 2017
Over nearly eight years, Raza Properties has developed rental housing in several of Philadelphia’s gentrifying neighborhoods: Sharswood, Point Breeze, Francisville, Brewerytown.
The son of blue-collar Pakistani immigrants, CEO Rahil Raza, 32, of Broomall, says he is passionate about providing affordable housing – defined as costing no more than 30 percent of a family’s income – for the city’s working-class and lower-middle-class populations, those earning between $45,000 and $85,000 a year.
“Our vision involves delivering high-quality housing at affordable prices,” Raza said. In turn, “we try to highlight the businesses already established. We also want to put in parks and nonprofits, in hopes that all of this builds up in the community.”