The Pennsylvania Housing Finance Agency (PHFA) has awarded $1,000,000 in Pennsylvania Housing Affordability and Rehabilitation Enhancement (PHARE) funding to HDC MidAtlantic in support of the Chester County Preservation Initiative (CCPI), an $18.6 million preservation of 97 affordable homes in Chester County, Pennsylvania.
CCPI communities include Ash Park Terrace, a 56-unit apartment community serving seniors aged 55 and over and individuals living with disabilities, and Washington House Apartments, a 10-unit apartment community serving seniors aged 55 and over with preference given to those living with handicaps or disabilities in Coatesville, and Hannum Gardens, a 31-unit apartment community serving families in West Chester.
“HDC has found two great partners in Mission First Housing Group and the Housing Authority of Chester County as we work to support Chester County’s most vulnerable populations,” said HDC President and CEO Dana Hanchin. “Mission First is not only an experienced developer who understands the challenges presented in Chester County, but their organization’s mission and values align and support HDC’s as well. We are happy to join them as champions for the greater good.”
“The Housing Authority of Chester County is so excited and grateful to partner with HDC MidAtlantic and the Mission First to preserve and upgrade 97 units of affordable housing. This housing includes units for both seniors and families. All of them have very low incomes which would make it virtually impossible to locate affordable housing in the often very expensive neighborhoods in Chester County. My Board Chairman, Pat Bokovitz, and I extend our thank yous to our partners in this effort. We look forward to working together to get this accomplished as quickly as possible.”
CCPI is a joint venture entity created after HDC MidAtlantic and Mission First, both mission-based, nonprofit developers, were selected to purchase the ownership interest in two limited partnerships in three properties currently controlled by the Housing Authority of Chester County (“HACC”) in 2018. The new ownership entity will be controlled by HDC and Mission First.
CCPI is important to the county, as it will provide much needed funding to rehabilitate and preserve each community to ensure guaranteed affordability and sustainable operations for decades to come. Hannum Gardens and Washington Terrace Apartments have long been critical assets in Chester County, offering in demand and scarce high-quality affordable housing options to vulnerable populations including low-income residents, seniors and those living with disabilities in an overall affluent and high cost region. By financing the rehabilitation using the Rental Assistance Demonstration (RAD) program, 4% LIHTC tax-exempt bonds, and existing project-based subsidies, residents will pay no more than 30% of their income towards rent.
PHARE funding will be used to complete renovations. Each community will receive significant updates to repair and replace major systems as well as improve energy efficiency and generate housing cost savings for residents and improve overall community operating costs. Planned upgrades include conversion of exterior lighting to LED, upgrades of interior and exterior lighting fixtures to ENERGY STAR components, transition of appliances to ENERGY STAR models, upgrades to HVAC systems to meet ENERGY STAR standards, and the replacement of existing windows with new ENERGY STAR windows. Water saving features will be added and kitchens and bathrooms will be improved to maximize cost savings for residents. The 11 apartments currently reserved for residents with disabilities will be updated to comply with current ADA standards.
Resident Services to connect residents to community resources and partners will be on-site at each community and available to all residents.
Construction is slated to begin Spring 2021.
HDC MidAtlantic envisions a world where a safe, welcoming, affordable place to call home is open to everyone. We believe home shouldn’t be an impossible dream, it should be an attainable reality: we believe housing is a human right. We are resident advocates, trusted developers, property managers, community partners, and collaborators. We are part of the fabric of our towns and cities, and have been working with our neighbors since 1971 to create real change and meaningful connections. As champions of the greater good, we open the door to opportunities and build homes that we can all be proud of.
HDC owns and/or manages over 3,700 apartments, providing housing that is safe and affordable to those with lower incomes, focusing on seniors, families, and individuals living with disabilities. Serving over 5,000 residents in 58 communities located in urban, suburban and rural areas across Pennsylvania, Delaware and Maryland, HDC builds hope and opportunity for all residents to reach their full potential by creating, preserving, and strengthening affordable housing communities.
ABOUT MISSION FIRST HOUSING GROUP
Mission First Housing Group develops and manages affordable, safe and sustainable homes for people in need, with a non-profit, mission-driven focus on the most vulnerable. Mission First ensures its residents have access to resources to help them live independently. They deliver housing that provides long-term benefits to residents and neighborhoods, alike. Mission First is a full-service real estate organization developing high-quality, green community assets across the Mid-Atlantic region. Mission First currently provides affordable housing and services to over 5,000 people in nearly 3,900 apartments, serving populations in need, such as families, veterans, survivors of domestic violence, seniors and the disabled. More information at www.missionfirsthousing.org.
The mission of the Housing Authority of Chester County is to provide, manage and develop quality affordable housing for individuals and families while promoting self-sufficiency and neighborhood revitalization. This will be achieved through maximizing our resources while always ensuring the financial integrity of the agency. Furthermore, it is our intent to accomplish this through forging the strong partnerships necessary to create innovative solutions to the housing needs of the communities we serve.