The Pennsylvania Housing Finance Agency (PHFA) awarded $1,238,235 in Low Income Housing Tax Credits for Beach Run Apartments in Fredericksburg, Pa. The new 51-apartment affordable community will be developed and managed by HDC MidAtlantic.
“A safe, affordable place to call home is the cornerstone of household stability and growth,” said HDC MidAtlantic President & CEO Dana Hanchin. “These new homes will add to the much-needed supply of workforce housing for major employers in the area including Bell & Evans, Sherwin-Williams and Ace.”
Beach Run Apartments will be located along North Center Street in Fredericksburg, Lebanon County, and provided high-quality workforce housing for residents in the area. The new community will feature 51 attractive, modern apartments including 1-, 2- and 3-bedroom floorplans. Six of those apartments will comply with Americans with Disabilities Act design standards.
Beach Run Apartments will target households earning between $10,040 and $66,480 annually. Rents will range from $208 and $1,066 per month based on income. The community will include professional on-site management, on-call maintenance, resident services, a community room, playground, walking trail and on-site parking for residents.
Local partners include Arthur Funk & Sons, Steckbeck Engineering & Surveying, Inc., and Architectural Concepts. The total cost of development is $14,675,030. Other committed sources of funding include Lebanon County and PENN Homes. Construction is slated to kick off in early 2020.
“Families in need of affordable housing live everywhere. Not only in large cities, but in small towns and in our own communities” said Arthur Funk & Sons, Inc., President Bob Funk. “We are proud to be a part of the HDC MidAtlantic team providing an affordable place to live that helps families to begin on a path of new opportunity, and increased confidence and self-reliance. ‘We Build’ means more than just construction. At Arthur Funk & Sons, we build community.”
Individuals interested in renting an apartment at Beach Run Apartments should contact HDC MidAtlantic Leasing Specialist Donna Overly at 717-291-1911 x8054 or email@example.com to have their names placed on an “interest list” to receive an application.
Founded in 1971, HDC MidAtlantic’s mission is to build hope and opportunity for nearly 5,000 residents to reach their full potential by creating, preserving and strengthening affordable housing communities throughout Pennsylvania, Delaware and Maryland. HDC MidAtlantic owns, develops and/or manages more than 3,700 affordable apartments in 58 communities, providing equitable housing options and promoting healthy living through real estate development, property management and resident services. Find us at www.hdcweb.com.
HDC MidAtlantic is part of the NeighborWorks network, an affiliation of more than 240 nonprofit organizations located in every state, the District of Columbia and Puerto Rico. The NeighborWorks network was founded and is supported by NeighborWorks America, which creates opportunities for people to live in affordable homes, improve their lives and strengthen their communities.