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$ 1.2 Million for Affordable Senior Homes in Phoenix Building – Daily Local

Westchester — An important project to bring 50 affordable senior housing units to the Phoenixville Autonomous Region will receive a tax credit of approximately $ 1.2 million through the Pennsylvania Housing Finance Agency.

PHFA has a low-income housing tax of $ 1187,000 for Hankin Group’s proposal to build an affordable one-bedroom and four-two-bedroom housing unit on 115 Buchanan Street in Phoenix Building. Announced that the deduction is conditionally reserved. Units reserved for people over the age of 62 are available for less than 60% of the median local income.

“We are deeply grateful for the support we have received from the leaders of autonomous regions, counties and states. Providing affordable housing for older people has been the most satisfying job of my career. We are pleased to be able to partner with the Autonomous Region to create a safe and beautiful community for people over the age of 62, said Robert Hankin, President and Chief Executive Officer of the Hankin Group. increase.

With an estimated total area of ​​approximately 54,000 square feet, the new apartment community is envisioned as a place where residents can maintain an active lifestyle in a safe, comfortable and cozy downtown area. On the other hand, reliable public transport access is nearby, not to mention many opportunities for community participation, educational programs, social activities and quality medical services.

The announcement was welcomed by state and local authorities, including Senator Carolyn Committer, Parliamentarian Melissa Shasterman, and Parliamentarian Daniel Friel Otten.

“With a thriving downtown business district and the best shopping, dining and entertainment opportunities, the Phoenixville Autonomous Region has blossomed into the best destinations in southeastern Pennsylvania. This success has led to housing demand. Will result in higher housing costs, “says Comitter. “These tax credits helped ensure the availability of housing for our old friends and neighbors, and those who helped lay the foundation for the current success of the autonomous region continue to be part of the Phoenix Building community, You can enjoy everything that its continuous activation offers. “

“Congratulations to the 2021 PHFA Award-winning Hankin Group! PHFA recognizes the need for sustainable and affordable housing for all residents. The Hankin Group is dedicated to this end. Thank you for doing the job you did well, “Shusterman said.

“Affordable housing options are essential for communities like the tremendously growing Phoenix Building. Affordable housing is good for health and quality of life as we continue to recover from pandemics. We have seen how important it is. We are grateful for this investment from PHFA and the Hankin Group in our community, “said Friel Otten. “Thanks to all the community partners for their efforts to secure this important funding.”

“This autonomous region has partnered with the Hankin Group to provide land for this project and is excited about the opportunity to provide homes to the most vulnerable citizens, including 11.5% of the elderly. This wonderful project is Phoenix Building. It’s within walking distance of nearby shops and restaurants in downtown Phoenix, “said E. Jean Krack, manager of the Phoenix Building Autonomous Region.

The Phoenix Building project will be offered as part of the $ 43.6 million low-income housing tax credit announced for 37 affordable housing developments across the state. In addition to PennHOMES’funding of $ 7.4 million and the National Housing Trust Fund’s $ 15.9 million or more, these investments will support the construction of 1,974 affordable housing rental units across the Commonwealth.

“Tax credits are the best tool to support the construction of affordable rental housing in Pennsylvania,” said Robin Wiessmann, Executive Director and CEO of PHFA. “Our mission at PHFA is to expand affordable housing options for state residents. Today, these developments that receive tax credits will help us do that. . “

“The pandemic shows how important affordable housing is to people’s health and quality of life,” said Governor Tom Wolf. “We are pleased to be able to fund the construction of these new rental units to meet the demand for more affordable housing in the Commonwealth.”

$ 1.2 Million for Affordable Senior Homes in Phoenix Building – Daily Local

Source link $ 1.2 Million for Affordable Senior Homes in Phoenix Building – Daily Local

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