Clarke Unveils Plan For Affordable Housing In Gentrifying Philly Neighborhoods

Map of Pennsylvania highlighting Philadelphia ...

Map of Pennsylvania highlighting Philadelphia County (Photo credit: Wikipedia)

Council President Darrell Clarke today unveiled a plan to build 1,500 affordable housing units in gentrifying neighborhoods like Francisville, Point Breeze and Mantua by redeveloping city-owned vacant land or tax-delinquent properties.

One thousand of the units will be rentals and would take advantage of two underused financing tools, Clarke said: operational subsidies for affordable housing from the Philadelphia Housing Authority and a tax credit from the Pennsylvania Housing Finance Agency.

The city would also need to issue a $100 million bond to be paid for by the Housing Trust Fund, which currently supports other programs.

Read more at http://www.philly.com/philly/blogs/cityhall/Clarke-unveils-plan-for-affordable-housing-in-gentrifying-neighborhoods.html#o1ssZ08Syqt3eBBK.99

Enhanced by Zemanta

Housing Crisis: Rising Prices, Fewer Options, Long Waiting Lists Make Finding A Livable Space Difficult

Map of Pennsylvania highlighting Lancaster County

Map of Pennsylvania highlighting Lancaster County (Photo credit: Wikipedia)

Jessica Castro in September moved herself, her daughter and her son, ages 10 and 9, into a one-bedroom apartment, sacrificing elbowroom to save on rent.

“What I need is a three-bedroom,” said Castro, 36, but it wasn’t in her budget. Even two-bedroom units were beyond her means as she worked 40 hours a week plus a second part-time job.

She now frets over how long her kids will tolerate the tight squeeze.

Thousands of renters across Lancaster County can identify with Castro. They’re priced out of decent, right-sized housing and settle for cramped, substandard quarters.

Experts warn that the shortage of affordable units is at the point that working people will leave the county to find a place to live.

Read more: http://lancasteronline.com/article/local/917486_Housing-crisis–Rising-prices–fewer-options–long-waiting-lists-make-finding-a-livable-space-difficult.html#ixzz2l1Rw7Kn6

Proposed Norristown Apartment Building Denied Low-Income Housing Tax Credits

Location of Norristown in Montgomery County

Location of Norristown in Montgomery County (Photo credit: Wikipedia)

Editor’s note:  YAHOO!

NORRISTOWN ­­— The developer of a proposed $17 million, 96-unit apartment building slated for a Montgomery County parking lot in Norristown has been denied $1,020,581 in low-income housing tax credits requested from the Pennsylvania Housing Finance Agency (PHFA).

The proposal from Pennrose Properties of Philadelphia was not included on a July 11 list of Cycle 2 awards from the PHFA, according to Jerry Nugent, the executive director of the Montgomery County Redevelopment Authority.

“I have no idea what effect this will have on the project,” Nugent said.  “My understanding is there was an appeal filed by Doug Seiler and other people for the (Norristown) variances granted.  I don’t know how long that will run.  The legal appeal could run for a year or more.”

The development company secured the zoning variances on March 26 for the proposed, four-story building and has not yet submitted site plans to the Norristown planning department.

Read more:  http://www.timesherald.com/article/20130721/NEWS01/130729944/proposed-norristown-apartment-building-denied-low-income-housing-tax-credits#full_story

Lower-Income Rental Complex Proposed For Norristown

“A proposal for 48 rental apartments on Sandy Street subsidized by federal tax credits ran into pointed questions and some opposition when it was recently presented to council”…. read the full story on the Times Herald:

http://www.timesherald.com/articles/2010/12/27/news/doc4d17e877e8982758384678.txt?viewmode=default

Hat Tip to Chris Huff for bringing the story to my attention!

Here is another story from the Philadephia Inquirer with their take on the lower-income rental complex proposed for Norristown and includes Pottstown in their discussion.  Another hat tip to Chris Huff for the link!

http://www.philly.com/inquirer/home_region/20101230_Norristown_shuns_apartment_dwelling.html?viewAll=y