Governor Corbett Announces Funding, Tax Credits to Create Affordable Housing for Pennsylvania Families
HARRISBURG, Pa., June 12, 2014 /PRNewswire-USNewswire/ -- Governor Tom Corbett today announced the award of $20.4 million in federal tax credits and $8.5 million in federal PennHOMES funding for the construction of 24 affordable, multi-family housing developments in suburban and rural areas of Pennsylvania.
The tax credits are administered by the Pennsylvania Housing Finance Agency (PHFA) and were approved by its board.
"Affordable, quality housing should not be a dream for Pennsylvania families, it must be a reality. Through this combination of tax credits and PennHOMES funding, we are creating a stronger Pennsylvania," Governor Corbett said. "This investment in Pennsylvania families will not only build and refurbish affordable housing, but it will also help to create good-paying jobs."
The tax credits will be used to attract more than $185 million of private investments for building and rehabilitating multi-family housing that will offer affordable rental fees. Through this effort, 1,248 rental housing units for low-to moderate-income families will be created.
It is anticipated that the tax credits awarded today will create 1,002 construction jobs and support 745 non-construction jobs.
"These low-income housing tax credits are the best investment tool available to us to support the construction of affordable rental housing across Pennsylvania," said PHFA Executive Director and CEO Brian A. Hudson, Sr.
One project receiving tax credits today, Heidelberg Apartments, was selected by a group of affordable housing professionals for special recognition as a winner of an "Innovation in Design" award. This award recognizes one multi-family development proposal during each funding cycle that demonstrates creative thinking and a unique approach to providing affordable housing solutions.
Heidelberg Apartments, located in Heidelberg, Allegheny County, is being developed by ACTION Housing, Inc. and the Autism Housing Development Corporation of Pittsburgh as a unique rental community of 42 units. Half the units in the development will be reserved for people with autism. This proposal was selected because of the opportunities that will be provided to the residents in the form of transportation, employment and social services. Specific design features will be incorporated to address the needs of residents with autism.
The 24 multi-family housing proposals that received tax credits or PennHOMES funding today are:
- Burkett Place, North Strabane Township, Washington County
- Park Place, Bally, Berks County
- Highland Hill, Somerset, Somerset County
- Brunswick Apartments, Lancaster, Lancaster County
- Westminster Place at Queen Street, York, York County
- Whitehall Acres, Oxford, Chester County
- Oak Hill Apartments, Franklin, Venango County
- JT College View Towers, Grove City, Mercer County
- Butler County Senior Housing for Veterans, Butler, Butler County
- Heidelberg Apartments, Heidelberg, Allegheny County
- Bellefonte Mews, Bellefonte, Centre County
- Reliance Crossing, Souderton, Montgomery County
- Wyalusing Meadows, Wyalusing, Bradford County
- Thompson Greene, Butler, Butler County
- Kinder Park II, Woodlyn, Delaware County
- The Old School on Luzerne, West Pittston, Luzerne County
- Gateway Senior Housing, Waynesburg, Greene County
- Governor's Gate Apartments, Bellefonte, Centre County
- Independence Square, Orwigsburg, Schuylkill County
- Falconhurst Neighborhood Restoration, Wilkinsburg, Allegheny County
- Bloom Mills, Bloomsburg, Columbia County
- Masontown Family Housing, Masontown, Fayette County
- Westfall Senior Apartments, Westfall, Pike County
- Serenity Ridge, Plum, Allegheny County
Additional information about these developments is available on the PHFA website at: http://www.phfa.org/developers/. Click on the first bullet.
The Pennsylvania Housing Finance Agency works to provide affordable homeownership and rental housing options for older adults, low- and moderate-income families, and people with special housing needs. Through its carefully managed mortgage programs and investments in multifamily housing developments, PHFA also promotes economic development across the state.
PHFA administers federal HOME funds on behalf of the Pennsylvania Department of Community and Economic Development.
Steve Chizmar, Governor's Office, 717-783-1116
Scott Elliott, PHFA, 717-649-6522
SOURCE Pennsylvania Office of the Governor