HARRISBURG, PA — Senator Vincent Hughes has announced substantial funding for affordable housing in Philadelphia’s 7th district. Over $5.9 million in Low Income Housing Tax Credits (LIHTC) will support four new rental housing projects, bringing 163 affordable units to the area. Of these, 39 units will be accessible for individuals with disabilities. The Pennsylvania Housing Finance Agency will manage these tax credits.
Addressing a Critical Need
“Affordable housing continues to be a fundamental need in communities across Philadelphia and Pennsylvania,” Hughes said. These new units aim to provide housing for low-income families, ensuring long-time residents can stay in their neighborhoods. Hughes emphasized the importance of prioritizing affordable housing to create more opportunities for residents.
Projects and Impact
The tax credits will fund the following projects:
- Linda Lockman King Apartments
- Location: 5500 Haverford Avenue, Philadelphia
- Description: A new four-story building with 33 units.
- Units: 4 one-bedroom, 19 two-bedroom, 10 three-bedroom
- Accessible Units: 9
- Gaudenzia Cathedral Park Homes
- Location: Multiple addresses, Philadelphia
- Description: Three new three-story buildings with 40 units.
- Units: 13 one-bedroom, 16 two-bedroom, 11 three-bedroom
- Accessible Units: 8
- The Queen Sr. Apartments
- Location: 32-330 West Queen Lane, Philadelphia
- Description: A new four-story building with 49 units for seniors aged 62 and above.
- Units: All one-bedroom
- Accessible Units: 13
- Westpark Redevelopment
- Location: 4401 Holden Street, Philadelphia
- Description: Three new two- and three-story buildings with 41 units.
- Units: 2 one-bedroom, 29 three-bedroom, 10 four-bedroom
- Accessible Units: 9
Importance and Implications
The LIHTC program is vital for creating affordable housing in high-demand areas. These projects will not only provide much-needed living spaces but also contribute to neighborhood stability. As housing costs rise, the availability of affordable units becomes crucial for maintaining diverse, inclusive communities.
Accessible units are particularly important. They ensure that people with disabilities have equal access to housing, promoting inclusivity and independence.
Affordable housing also has broader economic benefits. It can lead to job creation in construction and maintenance and stimulate local economies by increasing disposable income for low-income residents.
Future Outlook
Senator Hughes’ announcement highlights a significant step toward addressing housing shortages in Philadelphia. However, the need for affordable housing continues to grow. Ongoing investment and legislative support are necessary to meet the demand and ensure that all residents have access to safe, affordable homes.
By prioritizing affordable housing, Pennsylvania sets an example for other states. This initiative demonstrates a commitment to community well-being and economic stability, ensuring that neighborhoods thrive and residents can build better futures.
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