Pennsylvania Housing Finance Agency Approves $266,000 for Philadelphia, Bucks County Apartments

Apr 12, 2001, 01:00 ET from Pennsylvania Housing Finance Agency

    HARRISBURG, Pa., April 12 /PRNewswire/ -- At its April meeting held today
 in Harrisburg, the Board of the Pennsylvania Housing Finance Agency approved
 funding packages totaling more than $266,000 for affordable rental complexes
 in Philadelphia and Morrisville, Bucks County.
     PHFA financing will be used to help rehabilitate Rudolphy/Mercy-Douglass
 Home for the Blind in Philadelphia, and for the construction of townhomes in
 Morrisville.
 
                   Rudolphy/Mercy-Douglass Home for the Blind
 
     Rudolphy/Mercy-Douglass Home for the Blind was awarded $127,000 for the
 rehabilitation of a four-story, 17 unit building that will offer two- and
 three-bedroom apartments.
     PHFA will provide "gap" financing to help ensure the economic feasibility
 of the 29,000 square foot complex, which will also receive a $1,566,000 HUD
 loan under a program to build or restore rental apartments for persons with
 disabilities.  The Philadelphia Redevelopment Authority, Summit Bank and the
 Edith R. Rudolphy Residence for the Blind will provide the remainder of the
 financing.
     Walter R. Livingston, Jr., FAIA, is the architect, and Domus, Inc., is the
 general contractor.  Both firms are Philadelphia-based.
     Supportive services will be available for residents, who will pay no more
 than 30 percent of their income for rent.
 
                            Coleman Court Townhomes
 
     Coleman Court Housing received PHFA approval for $39,369 of funding and
 $100,000 of tax credits from the construction of five townhomes to be located
 at 601-609 Coleman Avenue in Morrisville.  Bucks County will also provide
 financing under the HOME Investment Partnerships Program.  Ollie Cherniahivsky
 & Associates of Philadelphia is the architect, and C & M Home Builders, Inc.,
 of Warrington is general contractor.
     The Pennsylvania Housing Finance Agency is the Commonwealth's leading
 provider of capital for affordable homes and apartments.
 
 

SOURCE Pennsylvania Housing Finance Agency
    HARRISBURG, Pa., April 12 /PRNewswire/ -- At its April meeting held today
 in Harrisburg, the Board of the Pennsylvania Housing Finance Agency approved
 funding packages totaling more than $266,000 for affordable rental complexes
 in Philadelphia and Morrisville, Bucks County.
     PHFA financing will be used to help rehabilitate Rudolphy/Mercy-Douglass
 Home for the Blind in Philadelphia, and for the construction of townhomes in
 Morrisville.
 
                   Rudolphy/Mercy-Douglass Home for the Blind
 
     Rudolphy/Mercy-Douglass Home for the Blind was awarded $127,000 for the
 rehabilitation of a four-story, 17 unit building that will offer two- and
 three-bedroom apartments.
     PHFA will provide "gap" financing to help ensure the economic feasibility
 of the 29,000 square foot complex, which will also receive a $1,566,000 HUD
 loan under a program to build or restore rental apartments for persons with
 disabilities.  The Philadelphia Redevelopment Authority, Summit Bank and the
 Edith R. Rudolphy Residence for the Blind will provide the remainder of the
 financing.
     Walter R. Livingston, Jr., FAIA, is the architect, and Domus, Inc., is the
 general contractor.  Both firms are Philadelphia-based.
     Supportive services will be available for residents, who will pay no more
 than 30 percent of their income for rent.
 
                            Coleman Court Townhomes
 
     Coleman Court Housing received PHFA approval for $39,369 of funding and
 $100,000 of tax credits from the construction of five townhomes to be located
 at 601-609 Coleman Avenue in Morrisville.  Bucks County will also provide
 financing under the HOME Investment Partnerships Program.  Ollie Cherniahivsky
 & Associates of Philadelphia is the architect, and C & M Home Builders, Inc.,
 of Warrington is general contractor.
     The Pennsylvania Housing Finance Agency is the Commonwealth's leading
 provider of capital for affordable homes and apartments.
 
 SOURCE  Pennsylvania Housing Finance Agency