Lancaster Housing Works acquires first property with $10M support from High Foundation

Lancaster Housing Works has acquired its first property with support from the High Foundation.

The new nonprofit closes on Stonecreek Court Apartments, a 60-unit property in Ephrata as it aims to create over 300 new affordable workforce housing units in Lancaster County.

According to a release, Lancaster Housing Works help address Lancaster County’s affordable workforce housing needs, acquired its first property, Stonecreek Court Apartments, at the end of December. Supported by a $10 million commitment from the High Foundation, Lancaster Housing Works plans to create 325–360 new affordable workforce housing units over the next 5 years.

Lancaster County has one of the lowest vacancy rates in the nation, driving up housing costs and making it difficult for residents to find affordable homes, per the release.

“High Foundation’s goal is to have a transformational impact on the largest issues impacting Lancaster County,” High Foundation President/CEO Robin Stauffer said in a statement. “Housing is top of the list.”

High Foundation has invested in dozens of local housing organizations—those providing emergency and transitional housing, homelessness services, subsidized affordable housing units and more—and had begun convening elected and municipal officials to address the problem. To directly increase the supply of affordable housing units in our community, the foundation helped launch Lancaster Housing Works, a new 501(c)(3) nonprofit organization.

Lancaster Housing Works serves residents earning 50–80% of the area median income, including teachers, nurses, tradespeople, and other workers who power Lancaster’s economy. The organization aims to ensure these residents have access to stable housing in the communities they support by increasing the supply of rental housing they can afford.

Stonecreek Court features 1-, 2-, and 3-bedroom units. The sale was made possible with $4.5 million in philanthropy from the High Foundation (part of its $10 million commitment), and a $2.3 million social impact loan from the Lancaster County Community Foundation.

“This is a huge milestone for Lancaster Housing Works,” said Executive Director Diana Martin. “We envision a Lancaster County where no one has to choose between paying their rent and affording life’s other essentials, and this was a meaningful step in that direction.”

Stonecreek Court was a priority for Lancaster Housing Works as the homes were affordable for those making 50-80% of the AMI, but this affordability was threatened as the community was up for sale.

“Lancaster’s economy is hurting from a shortage of affordable workforce housing,” said Tom Baldrige, Board Chair, Lancaster Housing Works. “We need more options for the healthcare workers, educators, and technicians who fuel our economy.”

Lancaster Housing Works will develop its housing portfolio without relying on Low-Income Housing Tax Credits – the primary but often complex and limited federal funding mechanism for affordable housing. Lancaster Housing Works will partner with the High Companies, leveraging their experience in real estate development, residential property management, and acquisition services at or below market rates.

“It’s our honor to support this innovative solution to a pressing need,” said Mike Shirk, CEO of High companies. “The High companies already positively impact communities – contributing time, talent, and resources to hundreds of community organizations, reinvesting our profits through the High Foundation, and by providing thriving wage jobs for families in our region. Now we’re going deeper and directly using our expertise to help create much-needed affordable workforce housing in our community, and we look forward to engaging other partners in this mission.”

Said High Foundation Chair S. Dale High, “People are out there doing their very best, but the price of housing has made it impossible for them. As a community, we have to find a way to give them a chance. I’m proud the High Foundation can provide visionary funding to launch Lancaster Housing Works and help more of our neighbors afford a place to call home.”