Two years in, Drexel University’s Employee Home Purchase Assistance program has helped more than 20 University employees buy homes in West Philadelphia.
Those who buy a home through the program are eligible for a $15,000 contribution from Drexel and a $4,000 matching grant from the city toward a home located within the boundaries set by the program.
In May, the program celebrated its 20th closing when Drexel employee and new homeowner Andrew Eisenhart, associate director of international undergraduate admissions, signed off on the final documents.
Eisenhart said an article in Philadelphia Magazine that touted University City as an up-and-coming neighborhood inspired him to take advantage of the program.
“After attending meetings about Drexel’s five-year strategic plan, it was clear the University was expanding and I knew buying a home [in University City] would be a sound investment,” he says.
Eisenhart started to look at properties in February and after six or seven viewings found a move-in-ready rowhome in the Spruce Hill section.