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Tri-County Housing’s Affordable Housing Plan in Harrisburg has earned the only award in Central Pa. from 2024 Funding Round of the Federal Home Loan Bank Pittsburgh. PHOTO/PROVIDED BY GARY LENKER
Tri-County Affordable Housing earns lone award in Central Pa.
Listen to this articleA new affordable housing proposal in Harrisburg has been awarded $750,000 from the Federal Home Loan Bank Pittsburgh.
The Tri-County Housing proposal is planned for the 2100 block of North 4th Street. Five affordable townhomes will be built on vacant lots acquired from the Harrisburg Redevelopment Authority in the 2100 block of North 4th Street. The three-bedroom, one-and-a-half bath townhomes will be available for purchase for eligible low- to moderate-income homeowners with a Veterans preference, replicating the Hummel Street Project in Harrisburg.
According to a release, the funding award was the only one awarded in the Midstate in this year’s round. Construction is anticipated to begin in early 2025.
“After years of attempts to secure funding from the Federal Home Loan Bank in a highly competitive environment, we are truly elated that we have garnered support that will bring this project to fruition,” Gary Lenker, executive director of the nonprofit Tri-County Housing, the owner/developer of the project, said in a statement. “The lion’s share of the 2024 funds went to major urban centers, so this award is a special victory for the Midstate.”
Lenker said the project earned the grant thanks to the support of First Commonwealth Bank and was the first awarded to Tri-County Housing in his 10-year tenure. He added that another first for the North 4th Street revitalization is that it is the first city project outside South Allison Hill in the 34-year-existence of Tri-County Housing.
The Federal Home Loan Bank (FHLB) program involves 11 government-sponsored banks across the country that provide liquidity to financing institutions to support housing financing and community investment. The revitalization project received $400,000 in PHARE funds from the PA Housing Finance Agency, along with Neighborhood Assistance Program dollars, and a Keystone Communities Program Grant for $366,000, both provided by the Pennsylvania Department of Community and Economic Development.
“As we work to help address the housing crisis in Dauphin, Cumberland and Perry Counties, one home at a time, we are grateful for the support of the State, the FHLB and our financial partners, and especially First Commonwealth Bank,” said Lenker.
