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6 midstate affordable housing projects qualify for PHFA funding
Paula Wolf, Contributing Writer//August 28, 2020
6 midstate affordable housing projects qualify for PHFA funding
Paula Wolf, Contributing Writer//August 28, 2020
Six projects in Central Pennsylvania are among 36 affordable multifamily housing developments in the state to receive nearly $61 million total approved by the Pennsylvania Housing Finance Agency.
Earlier this month, Gov. Tom Wolf announced the awards: $42 million in Low Income Housing Tax Credits, $6.08 million in PennHOMES funding, and $12.6 million in National Housing Trust Funds.
“Demand is high for these tax credits because they make possible the construction of affordable rental housing that otherwise wouldn’t be financially feasible,” the governor said in a release.
The funds go toward the preservation and creation of 1,785 rental units for Pennsylvania residents, including 70 for people at or below 30 percent of the area median income.
The regional projects:
- Cumberland County – Riverton Woods, Lemoyne, 40 units, $978,244 in Low Income Tax Credits.
- Dauphin County – Bethel Village, Harrisburg, 49 units, $1,210,708 in Low Income Tax Credits (conditional).
- Lancaster County – Mount Joy Senior Apartments, Mount Joy, 36 units, $1,099,693 in Low Income Tax Credits. Saxony Ridge Apartments, Lititz, 62 units, $500,000 from PennHOMES and $1,238,149 in Low Income Tax Credits.
- York County, Homes at Thackston Park II, York, 50 units, $1,119,449 in National Housing Trust Funds, $1,706,320 from PennHOMES and $1.25 in Low Income Tax Credits. Lombard Commons, Dallastown, 43 units, $1,206,893 in Low Income Tax Credits.
