PHFA Approves Support for Affordable Senior Housing in Centre County

The Pennsylvania Housing Finance Agency approved a tax credit to assist in the construction of the Stonebridge Senior Apartments, Senator Jake Corman (R- Bellefonte) announced today. Stonebridge Senior Apartments is a proposed 58 unit senior housing development located in Ferguson Township.

“PHFA’s support for this project is a major boost for the construction project,” said Senator Corman. “This is the first affordable senior housing community to be developed in the Centre Region in about 15 years, and I am very glad to see this PHFA support in the community.”

The Stonebridge Senior Apartments project is supported by members of the Centre County Affordable Housing Coalition, as well as Ferguson Township.

The PHFA awards Housing Credits to developers, providing an incentive for private investment. The credit award is a very competitive process with only about 25 percent of the proposals being funded each year.

More information can be found at the Pennsylvania Housing Finance Agency website www.PHFA.org.

Contact:

Scott Sikorski at 717-787-1377 or ssikorski@pasen.gov