LGBTQ-FRIENDLY HOUSING PROJECT RECEIVES $4M IN CREDITS FROM PA HOUSING FINANCE AGENCY
Construction on Oakland Project Could Begin in Summer 2023, Open in Fall 2024
OAKMONT, Pa. – NOVEMBER 11, 2022 — Presbyterian SeniorCare Network, one of western Pennsylvania’s largest aging services providers, will receive more than $4 million in state tax credits to build an LGBTQ-friendly senior housing community in the Oakland neighborhood of Pittsburgh.
Governor Tom Wolf and the Pennsylvania Housing Finance Agency announced funding awards Thursday for the construction of nearly 1,500 affordable rental units across Pennsylvania. Statewide, the awards totaled $44.2 million in Low Income Housing Tax Credits, $9 million in PennHOMES funding, $20 million in National Housing Trust Funds, and $19.3 million in new Pennsylvania housing tax credits.
Presbyterian SeniorCare Network (PSCN) is working with members of the LGBTQ community, Affirmative Investments, Persad Center, and others to develop a 52-unit, LGBTQ-friendly senior housing community in Pittsburgh. There is a strong need and demand for this kind of affordable senior housing option, and it will be the first of its kind in Western Pennsylvania, according to Jim Pieffer, President & CEO of Presbyterian SeniorCare Network.
“We are very grateful that the Pennsylvania Housing Finance Agency saw merit in our project and is providing this funding,” Pieffer said. “We still have work to do to reach our funding goal, but this is the major component of the funding that we need.”
Pieffer anticipates that the total development cost will range between $26-27 million. The $4 million in credits announced Thursday should result in $14 million in investment for the project, he said. The project has secured zoning and planning approvals from the City of Pittsburgh. If all goes according to plan, construction should begin in summer 2023 and take about 14 months to complete. The new community could open in fall 2024, Pieffer said.
“Our Network has a decades-long history of awareness of and support for person-centered care and services for seniors,” Pieffer said. “It will be an honor to serve this special population of older adults who have experienced difficulty receiving housing and services in the past.”
The Network has partnered with Affirmative Investments, a nationally known developer of affordable housing, for this project. “Affirmative Investments is very excited to work on its fifth project with Presbyterian SeniorCare Network to meet the needs of Pittsburgh seniors,” said David Ennis, President of Affirmative Investments.
The Network has also partnered with Persad Center, a Pittsburgh counseling, training & prevention services center serving the LGBTQ communities and people living with HIV.
“We’re thrilled to see the Oakland Pride project come to fruition,” said Marty Healey, Chief Executive Officer of Persad Center. “This housing opportunity will have a tremendous positive mental health impact on our community and the senior clients that we serve. We’re proud to partner with Presbyterian SeniorCare Network on this exciting initiative.”
For more information about the awards, visit https://www.phfa.org/mhp/ to see the list of tax credit recipients under “News: 2022” and dated 11/10.