Rendering by Kramer Marks Architects

Beacon Development Group is pleased to announce that HumanGood East has been awarded 9% tax credits by the Pennsylvania Housing Finance Agency (PHFA) for a 47 unit senior affordable housing community in the Port Richmond neighborhood of Philadelphia. Janney Street Apartments will serve seniors 62 years of age or older with 5 units set aside for formerly homeless seniors referred by the Philadelphia Office of Supportive Services. All units in the new four-story apartment complex will be one-bedroom apartments and average 670 square feet.

Janney Street Apartments received funding via 9% LIHTC in the amount of $12.0M and Pennsylvania Housing Affordability and Rehabilitation Enhancement (PHARE) Fund program in the amount of $0.6 million. Additionally, the project has been awarded $1.5 million from the City of Philadelphia and is receiving $1.5 million from the Bala Presbyterian Home Foundation.

Rendering by Kramer Marks Architects

HumanGood East in partnership with Inglis Housing Corporation has secured financing for a 44 unit affordable housing community in suburban Philadelphia. The site for the proposed Makemie Court community is adjacent to an existing HG community, Grace Court located in Yeadon, Delaware County. Makemie Court will consist of 44 units, including 32 units for individuals 55 years of age or older, 8 units for physically disabled individuals of any age, and 4 units reserved for physically disabled individuals 55 years of age or older.

Makemie Court will be co-developed by HumanGood East and Inglis Housing Corporation (Inglis). Inglis is a nonprofit organization whose founding dates back to 1877. Inglis’ mission is to enable people with physical disabilities — and those who care for them — to achieve their goals and live life to the fullest. Today, Inglis is the largest private provider of affordable accessible housing in the Greater Philadelphia region with more than 300 accessible, affordable apartment homes for people with disabilities.

All units at Makemie Court will be one-bedroom. The new four-story, mid-rise building will include an outdoor amenity space; including a gazebo, meditation garden and a parking area with 22 spots. A walking path will loop around the site and connect to the adjacent Grace Court. This walking path will create the community feeling of a campus and encourage interaction between the residents of the two properties. The first floor of Makemie Court will feature a lobby, community room with bathrooms and a demonstration kitchen, supportive services delivery space, a laundry room, mailroom, commissary, and a manager’s office. The total building square footage is estimated to be 41,552 GSF. Current plans are to have all units setup with Smart Home Technology. Units will sync with the Amazon Echo family of products to give tenants with physical disabilities the ability to be more independent.

The project is fully funded and expects to close its financing by June 2021. The sources of funding include the competitive low income housing tax credits from Pennsylvania Housing Finance Agency, HOME funds from Delaware County, Affordable Housing Program funds from the Federal Home Loan Bank of Pittsburgh and operating subsidy from the Chester Housing Authority. The equity partner is Raymond James and the debt provider is TD Bank. In addition both sponsors have committed funds to the project. Construction is expected to begin this summer.