changed. That’s reshaped the feasibility of building in many communities.” FROM INDUSTRY LOBBY TO CIVIC PROBLEMSOLVER Historically, the BIA, like many industry associations, focused primarily on its members’ immediate interests: more development, fewer regulatory hurdles. But as housing production accelerated and neighborhood concerns became louder around gentrification, affordability, and equity, the association made a conscious pivot. “Today, the BIA is not just representing the interests of developers,” Rushdi emphasizes. “We have a seat at the table with the city government, developing policies that promote diversity within the industry and policies that promote affordable housing. We can’t develop in a vacuum.” Central to that shift is a more nuanced understanding of gentrification. Rushdi acknowledges that it is often treated as a “dirty word,” especially in politically progressive cities, but argues that gentrification itself is not inherently negative. The real issue, he says, is displacement. “If you have safeguards in place and can handle displacement, development that raises property values can create enormous generational wealth,” he explains. He cites Brewerytown as a case study, where homes that once sold for $10,000 to $15,000 are now valued in the $150,000 to $200,000 range.“If you have a thousand homes in a small area and each one gains $50,000 to $100,000 in value, that’s $100 million of wealth created for existing residents. We need to talk about that upside, not just fear change.” The key, in his view, is ensuring that long-time homeowners are not forced out by rising property taxes or predatory sales. That means better use of homestead exemptions and other tax relief programs, and a stronger emphasis on education and outreach. “It’s the job of local elected officials to go out and say,‘Your home value is going to go up. Don’t rush to sell. Take advantage of these protections,’” he says. “If your income is under a certain threshold, your taxes can be frozen. Your expenses stay the same, but your net worth goes up. That’s the conversation we push for.” AFFORDABLE HOUSING THAT ACTUALLY PENCILS OUT The BIA’s evolving role is especially visible in the way it approaches affordable housing. Rather than relying on slogans or mandates that can inadvertently stifle production, the association has 23 BUSINESS VIEW MAGAZINE VOLUME 12, ISSUE 12 PHILADELPHIA BUILDING INDUSTRY ASSOCIATION
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