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Brewster: Housing Project Funding and Credits Approved for New Kensington
On April 12, 2018
Harrisburg, April 12, 2018 – Sen. Jim Brewster (D-Allegheny/Westmoreland) said that a local housing project has received tax credits and conditional funding through the Pennsylvania Housing Affordability and Rehabilitation Enhancement (PHARE) fund.
“With the support of PHARE, Pioneer Apartments will be able to begin construction in New Kensington,” Brewster said. “Funding for housing improvements is essential to growing and bettering our communities.”
Brewster said he was pleased that the housing project involves new construction of a multi-unit facility. Pioneer Apartments will be constructed at 4th Avenue, Cherry Alley, and 10th Street in New Kensington. Once completed, the four-story building will consist of 36 units.
“Increasing housing opportunities is the right thing to do for our communities and I am grateful to see a project in New Kensington working to provide access to quality housing.” Brewster said.
The Pioneer Apartment project was approved for conditional reservation tax credits up to $1,014,283. $500,000 of conditional funding was also awarded to the project.
Monies provided through PHARE are used to address significant and persistent housing needs in communities. The PHARE fund is managed by the Pennsylvania Housing Finance Authority (PHFA).
Since its creation in 1972, the PHFA has worked to provide affordable rental housing options and homeownership for older adults, low- and moderate-income families, and people with special housing needs.
PHFA has generated more than $13 billion in funding to assist with single-family home mortgage loans, to help fund the construction of rental units, and to save homes from foreclosure.