Phoenixville Apartments Receive ChesCo Funding
PHOENIXVILLE PA – Senior citizens in Phoenixville looking for affordable housing are among future beneficiaries of an agreement, announced Thursday (July 14, 2022) by the Chester County Board of Commissioners, to spend $3.4 million that supports housing developments for households with low-to-moderate incomes.
Of the total, commissioners allocated $1.5 million for Phoenixville Senior Housing, an age 62-plus community with 50 apartments, commissioners’ Chair Marian Moskowitz reported. The Phoenixville project will provide one- and two-bedroom apartments for seniors. The remaining $1.9 million was set aside for a 60-apartment complex in Caln Township.
Construction on both is due to begin this fall.
The county participates in a federal program under which developers submit competitive proposals for the money. Pennsylvania matches those funds with low-income housing tax credits. Rental rates to be offered by developers for subsidized units are targeted by the county to be affordable to households earning from 20-to-60 percent of the area’s median income.
The funds, to be distributed by the Chester County Department of Community Development, come from a combination of sources. They include the county’s housing trust and the federal HOME Investment Partnerships Program. Housing trust dollars are generated by a fee paid on every mortgage and refinance recorded in the county, and used solely for affordable housing development.
“Awarding of this funding underscores our commitment to families and seniors struggling to remain a part of this community that we all love,” Moskowitz said.
Artists’ rendering of the proposed Phoenixville Commons provided by Chester County