Whitehall Acres in Oxford in southwestern Chester County is one of 24 affordable, multi-housing developments scheduled to receive federal tax credits and federal PennHOMES funding.
The Daily Local News reported in February Whitehall owner Conifer Realty sought a letter of support from Oxford Borough Council to seek tax credits and funding to make repairs and build a community center there. That funding is now on its way, according to Gov. Tom Corbett’s office.
Conifer Realty had told council if they received the funding, construction work would begin in early 2015. The 64-unit subsidized apartment building has not had any capital improvements since 1972. Estimated cost of improvements is $55,000 per unit.
Corbett’s office said in all $20.4 million in federal tax credits and $8.5 million in funding will go to these 24 developments in suburban and rural areas. The tax credits are administered by the Pennsylvania Housing Finance Agency.
“Affordable, quality housing should not be a dream for Pennsylvania families, it must be a reality,” Corbett said. “Through this combination of tax credits and PennHOMES funding, we are creating a stronger Pennsylvania. This investment in Pennsylvania families will not only build and refurbish affordable housing, but it will also help to create good-paying jobs.”
The tax credits will be used to attract more than $185 million of private investments for building and rehabilitating multi-family housing that will offer affordable rental fees. Through this effort, 1,248 rental housing units for low-to moderate-income families will be created.
It is anticipated that the tax credits awarded today will create 1,002 construction jobs and support 745 non-construction jobs.
Whitehall Acres apartments are at 134 Whitehall Way, Oxford, and may be reached at 610-932-7800.