Nineteen developments have been selected to receive $16.8 million in low-income housing tax credits (LIHTCs) and $1.9 million in PennHOMES funds by the Pennsylvania Housing Finance Agency.
The latest awards are for the construction or rehabilitation of affordable housing in urban centers throughout the state. When completed, these developments will provide an additional 867 rental housing units for Pennsylvania residents.
A second round of funding for developments in rural and suburban areas will be announced in July.
The LIHTCs awarded to developers will be used to attract more than $160 million in funding to build and rehabilitate multifamily housing with affordable rents.
One notable project receiving funding is The Brew House, a 76-unit development by TREK Development Group. It was selected by a jury of affordable housing professionals under the “Innovation in Design” category. The Brew House, located in Pittsburgh, will create affordable and market-rate housing opportunities for local artists in a historic building in the South Side neighborhood. It received special recognition due to its excellence in design, its implementation of energy-efficient technologies, and its leveraging of community and capital resources.
A list of projects receiving funding can be found here.
