PITTSBURGH – October 27, 2021 – Efforts to provide affordable housing in the 42nd Senate District will get a $3.5 million boost, according to Sen. Wayne Fontana.
The Pennsylvania Housing Finance Agency Board approved tax credits for three local projects that will be used to spark construction of more than 100 affordable housing units in the community.
“While the real estate market has been hot, it presents challenges for those of modest means or fixed incomes,” Fontana said. “Construction of affordable housing in our community means many longtime residents can feel confident that they will be able to afford to stay close to friends and relatives. It should be a top priority of policy makers.”
Pennsylvania Housing Affordability and Rehabilitation Enhancement (PHARE/HTF) funding is made available through the Commonwealth’s allocation of National Housing Trust Funds. PennHOMES funding is primarily provided through the federal Home Investment Partnership Program.
Local projects receiving tax credits are:
Cedarwood Homes
Village Road & Broadhead Fording Road, Pittsburgh — $1,247,044
Developers will build of 12 new buildings with 46 townhouse style apartments, seven of which will be market rate units. The development is estimated to be a total of 38,000 square feet.
Hilltop Allentown Phase I
Allentown Neighborhood, Pittsburgh — $1,042,763
The project will mean the construction of 29 buildings consisting of 23 two-bedroom and eight three-bedroom units, four of which will be accessible. The 44,872-square foot project is Intended for conversion to home ownership after 15 years.
Letsche School
1530 Cliff Street, Pittsburgh — $1,247,220
This proposal is for the new construction of four townhomes and the adaptive reuse of the former Letsche School into a 42-unit apartment building. The developer will have a total 46 units consisting of 26 one-bedroom units, 13 two-bedroom units and seven three-bedroom units for general occupancy. The development will have six accessible units. The development is estimated to be a total of 61,545 square feet.
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