READING, PA — Harmony Senior Housing, a venture led by the Small Business Resource Center Online, has unveiled a bold plan to tackle the critical lack of affordable senior housing in Reading, Pennsylvania. The initiative aims to provide a safe and vibrant community for seniors grappling with rising rents and limited incomes, offering a secure living environment free from the threat of eviction or unjust rent increases.
The urgent need for affordable senior housing is a significant concern for the community. Recent data indicates that over 20% of Reading’s population is aged 65 and older, a figure expected to grow. However, the supply of suitable and affordable housing options for this demographic is alarmingly inadequate.
Peter B Gustis, Founder and Principal of Harmony Senior Housing, voiced his concern about the issue. “We’ve seen too many seniors on fixed incomes being evicted due to increasing property taxes and unaffordable rents. Helping them individually isn’t sufficient. We need a collective effort to create a lasting change,” Gustis stated.
Harmony Senior Housing’s flagship project involves converting a dilapidated 125,796 square foot warehouse at 500 N 3rd Street, Reading, PA, into 188 to 244 affordable senior apartments. The total estimated cost for this transformative project is $30 million, averaging around $135,245 per unit.
However, the project’s vision extends beyond merely creating affordable living spaces. “At Harmony Senior Housing, we’re building more than just homes; we’re fostering a vibrant community where seniors actively contribute to creating a fulfilling lifestyle,” Gustis affirmed.
The planned amenities include a community center, fitness facilities, cafeteria, salon and spa, rooftop decks, and transportation services. These facilities will enable seniors to participate in a variety of activities, from wellness workshops and social mixers to art exhibitions and intergenerational events with local schools and colleges.
The development project is expected to span approximately 24 months, divided into phases from pre-development assessments to post-construction stabilization.
To bring this vision to life, Harmony Senior Housing is seeking support from local and national businesses, corporations, and individuals committed to enhancing the lives of seniors in the community.
This ambitious initiative by Harmony Senior Housing aims to address the pressing issue of affordable senior housing and strides to ensure a secure and fulfilling living environment for Reading’s older residents.
For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News and MSN.