Green Daily

In the last few years, the real estate market in Philadelphia has really taken off. Even with the current nationwide slowdown, things seem to be holding their own in the City of Brotherly Love. People have really started moving back downtown and rediscovered some of the old, blue collar neighborhoods just adjacent to Center City. We've had something of a building boom and most of the new houses that have been built are done with an eye on speed, size and maximum profitability. Most homes that contain green features are impossibly expensive and out of the reach of the average home buyer.

However, one company is trying to buck the trend and build affordable, green rowhouses for under $100K (that would sell for something in the neighborhood of $200-250K) in one of those adjacent neighborhoods. Post Green thought they had their funding in place but just recently learned that they were turned down for a loan from the bank because the financial institution didn't believe that they could build a eco-friendly house in Philadelphia for that amount.

They are applying for funding from other sources and hope to go on with the project, but it's a frustrating setback for the affordable green construction movement.

[via Philebrity]