HDC MidAtlantic Development Officer Matt Padron shares his thoughts the affordable housing development process on WFMZ.
HDC MidAtlantic President and CEO Michael R. Carper invites elected officials, neighbors and the community to join HDC MidAtlantic for a ribbon cutting ceremony for River Run Meadows Apartments in Birdsboro, Pa. on Tuesday, February 13 at 10:30 am.
The new community is centrally located between the City of Reading and Birdsboro on a wooded plot encompassing approximately 50 acres, just off PA Route 724. As part of the transaction, HDC MidAtlantic annexed a portion of the site to Natural Lands Trust, a non-profit land conservation organization dedicated to protecting the forests, fields, streams, and wetlands in eastern Pennsylvania.
River Run Meadows development includes six residential buildings consisting of one – and two – bedroom walk-up apartments, as well as two-story two and three-bedroom townhomes. Rents range from $195-950 per month.
In keeping with the goals and objectives of the Low Income Housing Tax Credit Program, all of the units are affordable to households earning less than 60% of the Area Median Income (“AMI”) and over half of the development is set aside for individuals and families earning less than 50% of AMI. To increase the availability of quality, affordable housing for individuals and families living with disabilities, 10% of the apartments were designed to be fully accessible and meet current ADA standards. In addition, two non-ADA units include features for hearing and/or visually impaired households.
River Run Meadows Apartments was constructed to meet Enterprise Green Communities® standards, which includes water and energy saving devices throughout the property that will offset utility costs for the property and saving residents money.
The new development includes on-site laundry facilities, a community gathering space and a multipurpose athletic court for resident use. The complex is adjacent to the Schuykill River Trail, giving residents close access to areas for jogging, walking and biking.
In July 2016, River Run Meadows Apartments was awarded $1,132,144 in Low Income Housing Tax Credits from the Pennsylvania Housing Finance Agency (PHFA). HDC MidAtlantic acquired the construction site in December 2015. The total cost of development is $14.1 million.
For more information, please contact Hope Frick, Marketing Specialist, at 717-291-1911 x8020 or firstname.lastname@example.org.