A building complex in Blairsville obtains financing and tax credits through the Pennsylvania Housing Finance Agency for the construction of 30 housing units.
Governor Tom Wolf announced more than $ 43.6 million in PHFA low-income housing tax credits, including $ 865,879 for Trek Development Group’s Blairsville 2 family housing along Veterans Drive in Grandview Drive.
“Tax credits are the best tool we have to support the construction of affordable rental housing in Pennsylvania,” said Robin Wiessmann, executive director and CEO of PHFA. “Our mission at PHFA is to expand affordable housing options for residents of the state, and these tax-crediting developments today will help us do that.”
The governor also announced more than $ 7.4 million in PHFA PennHOMES funding, including a loan of $ 1,366,969 for Trek’s Blairsville Family Housing 2, administered by William J. Gatti. Lawmakers in the region said the loan had a 0% interest rate with a 40-year term, with repayment made from excess cash flows determined annually by the PHFA.
“The pandemic has shown how important affordable housing is to people’s health and quality of life,” Wolf said. “I am pleased that we are able to help fund the construction of these new rental units to meet the demand for more affordable housing in the Commonwealth.
In a press release issued Friday by State Senator Joe Pittman and Representative Jim Struzzi, both R-Indiana, it was reported that the Blairsville development will offer 15 one-story buildings, comprising 15 one-bedroom, 13 two-bedroom and two three-bedroom units for general occupancy.
Both lawmakers said four units will be accessible to people with disabilities.
“As the costs of so many basic items – like food and gasoline – continue to skyrocket, the need for affordable housing is also increasing exponentially. Building this development will bring much needed relief to families in our region, ”Pittman said.
“Programs like this provide excellent opportunities to meet the housing needs of residents of our county through private and public partnerships,” said Struzzi.
In addition to money for low income people and PennHOMES, the PHFA has issued over $ 15.9 million in national housing trust funds.
In total, funding will go to 1,974 affordable multi-family rental units across the state.