Penn Hills senior housing complex receives green light from PHFA
A developer that plans to build a subsidized apartment complex for seniors in Penn Hills has received funding approval from the Pennsylvania Housing Finance Authority.
A.M. Rodriguez Associates sought $1.25 million in tax credits over 10 years from PHFA to build a 52-unit apartment complex where the former Forbes Elementary school sits.
Victor Rodriguez, president of the firm, said the project depended on getting the funding. He said the allocation will allow them to demolish the empty school on Saltsburg Road next spring, with construction shortly following.
Rodriguez said the firm does not accept applications from potential tenants until three or four months prior to opening the building. The facility is expected to be completed by summer 2021.
The Penn Hills School District allowed the firm to purchase the 16-acre property in November for $475,000. According to real estate records, the transaction has not happened to date. The property is assessed at $415,200.
The firm has since gained approval from the municipality’s planning department, commission and council.
The apartment complex will be available to seniors aged 62 and older. There will be one- and two-bedroom apartments with rent from $710 to $950, including utilities. Rodriguez said the building will also include around three lower-end units, which will be around $600 per month.
Rent prices will depend on tenant income levels and apartment sizes, he said.
Dillon Carr is a Tribune-Review staff writer. You can contact Dillon at 412-871-2325, [email protected] or via Twitter .