$9.3M Awarded to Affordable Housing Development in Philly

The Pennsylvania Governors Office announced that eight developers were awarded a total $9.3M in tax credits from the Pennsylvania Housing Finance Agency (PHFA) to build 495 affordable housing units in the city of Philadelphia.

1 minute read

July 15, 2016, 2:00 PM PDT

By katewintz1

Jon Bilous / Shutterstock

Across the United States, there is no shortage of conversation surrounding the need for more affordable housing choices for its urban residents. The City of Philadelphia Director of the Office of Planning and Development, Anne Fadullon, stated that "affordable housing is a critical need in our city. The homes this funding will support are important, not just to the families who will live in them but also to the neighborhoods where they are located."

The funding, provided by the Pennsylvania Housing Finance Agency (PHFA), is set to provide an estimated 10 year tax incentive to developers in various locations around the city. "The city plans to provide an additional $2.7 million to some of the affordable housing projects," says Melissa Romero.

FULL STORY: $9.3M Awarded to 8 Philly Affordable Housing Developments

Friday, July 15, 2016 in Curbed Philadelphia

Housing Pennsylvania Philadelphia affordable housing tax credits Affordable Housing Pennsylvania Housing Finance Agency View More

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