Proposed housing project receives funding
BY STACI WILSON
A proposed 40-unit family housing development in Bridgewater Twp. cleared its first hurdle with the Pennsylvania Housing Finance Agency board approving nearly $3 million in PennHOME funding for the Trehab project.
Along with the funding, the Meadows at Tiffany Pines low income housing project also received over $1 million in tax credits.
According to PHFA, this funding will be used to leverage local, state, federal and private financial resources needed to complete the financing plans for these construction initiatives.
Trehab executive director Dennis Phelps said the funding will allow the agency to respond to the housing shortage that is occurring in the county in the wake of natural gas development.
Trehab, Phelps said, has a strategy in place to develop housing in the area over the next five years.
With the approved funding, Trehab can now move forward with architectural and engineering site work for the housing development – all of which needs to take place before ground is broke for construction.
Trehab has actively been working on housing needs in the region, Phelps said, with a 20-unit elderly housing building in Mehoopany and a 40-unit family housing development in Wellsboro.
Phelps said Rep. Sandra Major and Commissioner MaryAnn Warren actively advocated on behalf of the project.
The proposedSusquehannaCountyhousing project will be located off Route 706, east of Montrose.
According to PHFA, the multifamily developments create affordable housing opportunities for families and seniors acrossPennsylvania, and they promote vital economic activity in rural and urban communities.
The Trehab project was one of 32 approved developments announced by PHFA last week. When completed, the new developments will provide an additional 1,579 housing units forPennsylvaniaresidents.
“The competition was intense for this affordable housing funding and we were pleased with the high quality of the 96 proposals we received this year,” said PHFA Executive Director and CEO Brian A. Hudson Sr.
“These multifamily developments will benefit the local communities where they’re located because of the economic boost they’ll provide during construction, and then later when the residents move in,”Hudsonsaid.