Local affordable housing projects awarded funding, tax credits
Three affordable housing projects with local ties are among the 24 developments receiving $20.4 million in federal tax credits and $8.5 million in federal PennHOMES funding.
The three are as follows:
* Centre County: Governor's Gate Apartments by Lancaster-based Housing Development Corp. Midatlantic, 66 units, $750,000 in PennHOMES and $475,568 in tax credits.
* Lancaster County: Brunswick Apartments by Lancaster-based Community Basics Inc., 60 units, $1,131,452 in tax credits.
* York County: Westminster Place at Qeen by York-based Presbyterian Senior Living, 50 units, $615,749 in tax credits.
The tax credits are administered by the Pennsylvania Housing Finance Agency and were approved by its board. They will be used to attract more than $185 million of private investments for building and rehabilitating multifamily housing that will offer affordable rental fees, according to a news release.
The effort is expected to create 1,248 rental housing units for low-to moderate-income families and 1,002 construction jobs, as well as support 745 nonconstruction jobs.