Capital Partners Fund’s next ground-up development at 5141-47 W. Master Street is an 18-unit, 100% affordable family rental building in West Philadelphia’s Carroll Park neighborhood. The project is structured under Philadelphia’s §14-702(7) density bonus — an opt-in framework that allows additional units in exchange for a meaningful percentage of dedicated affordable housing — with all 18 units rented to households at or below 50% AMI through the Philadelphia Housing Authority Housing Choice Voucher Program.
The unit mix (12 three-bedroom + 6 two-bedroom) is designed for low-income families, addressing the family-sized affordable housing undersupply identified in PHA’s 2025 Comprehensive Needs Assessment. Half the units are reserved for households at or below 30% AMI, with priority for families experiencing homelessness.
We’re running every phase in-house — acquisitions, entitlements, design coordination, construction, leasing, and long-term operations. 5141-47 W. Master will join the rest of the portfolio as a long-hold asset, built and operated by the same team that designed it.
More updates will follow as the project moves through development. Learn more about our approach on our Affordable Housing page.