PHFA supporting multifamily housing projects in Cumberland, Lancaster
The Pennsylvania Housing Finance Agency approved $19.5 million in tax credits Thursday for the construction of 20 affordable multifamily housing developments, including five in Cumberland and Lancaster counties.
The local PHFA projects are:
• Dawn Ridge, Cumberland County, WODA Group LLC: A 58-unit project in Carlisle that was awarded $967,920 in tax credits.
• Historic Molly Pitcher, Cumberland County, Cumberland County Housing and Redevelopment Authorities: An eight-unit project in Carlisle that was awarded $260,258 in tax credits.
• Shepherd’s Crossing, Cumberland County, Monarch Development Group LLC: A 35-unit project in Mechanicsburg that was awarded $860,856 in tax credits.
• Mountain View Terrace, Lancaster County, Welsh Mountain Home: A 36-unit project in New Holland that was awarded $599,807 in tax credits.
• Willow Run, Lancaster County, MBI Development Co.: A 72-unit project in Pequea Township that was awarded $1.32 million in tax credits
The full list is available online. An initial round of tax credit funding for 2013 for developments in urban areas was announced in March.
Courtesy of the Central Penn Business Journal. Read the full article here: