Five Thriven Design Projects Awarded PHFA Funding
Thriven Design is pleased to announce that five of its Pennsylvania-based affordable housing projects were awarded funding by the Pennsylvania Housing Finance Agency (PHFA) Thursday.
The projects, located in Philadelphia, Allentown, and McKees Rocks, Pa., will together contribute 275 units of affordable multifamily, affordable supportive, and affordable senior housing to the state. They comprise 14% of all units funded in this cycle.
In total, PHFA is funding the construction or rehabilitation of 1,916 rental units in these awards, of which 1,801 will be affordable to households at or below 60% of the area median income.
Congratulations to our project teams, and project partners engaged in the design of these impactful communities!
North Park Avenue
Philadelphia, PA
Type: New Construction
Pool: Urban
Developer: Project HOME
Awarded:
Health for Housing: $600,000
National Housing Trust Fund (NHTF): $750,000
PA Housing Tax Credits (PHTC): $1,000,000
Federal Tax Credits (LIHTC): $1,580,702
As part Project HOME’s new Estadt-Lubert Collaborative for Housing and Recovery, this 45-unit project is designed to provide permanent supportive housing and on-site integrated healthcare for individuals battling opioid addiction who are homeless or at risk of homelessness. Health for Housing partners Jefferson Health, Penn Medicine, and Temple Health are contributing $600,000 toward the residence.
Hays Manor
McKees Rocks, PA
Type: New Construction
Pool: Rural / Suburban
Developer: Pennrose
Awarded:
National Housing Trust Fund (NHTF): $750,000
PA Housing Tax Credits (PHTC): $1,000,000
Federal Tax Credits (LIHTC): $1,429,655
Construction of this 50-unit development represents the first phase of implementation of the McKees Rocks CNI Master Plan, developed by Thriven Design. The plan provides a multiphase vision for the redevelopment the Allegheny County public housing community.
2201 E. Tioga
Philadelphia, PA
Type: New Construction;
Thriven Design providing energy services
Pool: Urban
Developer: Sepviva Lofts LLC / RB Development
Awarded:
National Housing Trust Fund (NHTF): $750,000
PA Housing Tax Credits (PHTC): $1,000,000
Federal Tax Credits (LIHTC): $1,590,000
The 51-unit residence with provide supportive services to individuals with physical disabilities.
Neumann North
Philadelphia, PA
Type: Preservation
Pool: Urban
Developer: Pennrose
Awarded:
National Housing Trust Fund (NHTF): $750,000
PA Housing Tax Credits (PHTC): $1,000,000
Federal Tax Credits (LIHTC): $1,431,000
Located in close proximity to banks, restaurants, parks, post office, pharmacy and grocery stores, this 67- unit community is designed for seniors 62 and older.
The Willows at Calvary Temple
Allentown, PA
Type: New Construction
Pool: Rural / Suburban
Developer: MBID Of Delaware (Ingerman) / Calvary Temple of Allentown PA
Awarded:
National Housing Trust Fund (NHTF): $750,000
Federal Tax Credits (LIHTC): $1,430,341
This 40-unit community provides residents with access to a health care clinic, early childhood education, nutrition assistance, and emergency financial aid, and local opportunities for employment.
To learn more about all of the projects funded this July by PHFA, please visit: https://www.phfa.org/forms/multifamily_news/news/2024/2024-low-income-housing-tax-credit-final.pdf
