The Pennsylvania Housing Finance Agency (PHFA) recently awarded $4.8 million in Mixed-Use Development Tax Credit Program grants to seven projects to construct or rehabilitate mixed-use developments.
The program stimulates high-impact neighborhood revitalization projects. The PHFA administers the program, and its board of directors selected the projects.
“We anticipate the projects funded today will produce 201 new or rehabilitated residential units and 45,680 square feet of commercial retail space,” Robin Wiessmann, PHFA executive director and CEO, said. “Most communities have an urgent need for more affordable rental units, and the commercial portion of these properties can be powerful economic drivers in the towns and cities where they are located.”
The OZFund in Lancaster County was awarded $800,000 for Rebman’s Redevelopment. Vice Capital in Dauphin County was awarded $800,000 for Savoy 48. Full Court Development in Philadelphia County was awarded $700,000 for 4324-44 Lancaster Avenue. Studio Volcy in Allegheny County was awarded $700,000 for Phase I of Rhythm Square. ACTION-Housing in Allegheny County was awarded $600,000 for the Penn Lincoln Apartments. United Neighborhood Community Development Corp. in Lackawanna County was awarded $600,000 for Matzo Development. And Community Partnerships RC&D in Mifflin County was awarded $600,000 for 131 West Market Street Rehabilitation.