WASHINGTON, DC - U.S. Senators Bob Casey and Arlen Specter announced today that the Department of the Treasury will award Pennsylvania $41,628,698 in federal funding to spur the development of affordable housing units across the state. Federal funding has been allocated through the American Recovery and Reinvestment Act.
“I am pleased recovery funding has been awarded to Pennsylvania housing projects,” said Senator Casey. “These projects will not only provide affordable housing for families who have suffered through the economic downturn, but also encourage development and the creation of jobs. This is another example of how the Recovery Act is helping to rebuild our fragile economy.”
“I am pleased to see stimulus funds at work for Pennsylvania’s affordable housing projects.” Senator Specter said. “This funding will help jump start development and rehabilitation of quality, affordable housing for Pennsylvania families and will help to strengthen these communities, their housing markets and their economies.”
The funding is a portion of the more than $3 billion allotted in the American Recovery and Reinvestment Act to provide affordable housing. The Treasury Department will work with state housing agencies on the development or renovation of qualified affordable housing. Under this program, state housing agencies will receive funds to finance the construction of affordable housing developments.
Pennsylvania projects receiving funding are:
Edgmont Senior Apartments- Chester, Delaware Co. - 87 units - $13,614,861
Pentecostal Square - Chester, Delaware Co. - 70 units - $10,538,396
Misty Ridge Terrace - Gettysburg, Adams Co. - 46 units - $6,666,304
Fairview Family Townhomes - Fairview Township, Erie Co. - 25 units - $3,709,843
Chambersburg Family Townhomes - Chambersburg, Franklin Co. - 40 units - $7,099,294
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