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News Notices & Publications: Open house to be held for Lewistown senior housing development

Title

Open house to be held for Lewistown senior housing development

Announcement Type

News

Date Published

11/13/2017

Regional Spotlight

Yes

Short Description

 

Body

The public is invited to an open house to tour the newly completed senior housing development, Mann Edge II, in Lewistown.

 

It will be held from 9:30 a.m. to 1:30 p.m. Dec. 13 at 100 E. Water St.

 

A dedication for the $8.2 million facility was held Oct. 11.

 

Mann Edge II, which is developed and managed by the SEDA-COG Housing Development Corporation, addresses several key needs such as affordable senior housing, redevelopment of a formerly unusable brownfield site, projected local tax revenue generation of $33,000 annually, and contributions to the central business district.

 

The 34-unit complex features a community room, a library equipped with computers, a three-season porch, an exercise room, and lounges. For a one-bedroom apartment, monthly rent is $495, and for a two-bedroom apartment, monthly rent is $632.

 

The complex is situated just west of the first phase of the project, Mann Edge Terrace, which was completed in late 2012. Mann Edge Terrace is a 31-unit apartment complex for senior citizens at the corner of Water and South Dorcas streets. The project’s first phase saw a jump from $2,400 to $31,000 in local tax revenue per year.

Mann Edge II has garnered significant community investment by numerous partners, including financial institutions.

 

Investors are The Juniata Valley Bank and Kish Bank. Other financial commitments have been obtained from the Mifflin County commissioners, Lewistown Borough Council, the Pennsylvania Housing Finance Agency, the state Department of Community and Economic Development, the Mifflin County Industrial Development Corporation, and the SEDA-COG Housing Development Corporation. All were instrumental in the development’s funding.

The SEDA-COG Housing Development Corporation partnered with the Mifflin County Industrial Development Corporation (MCIDC) first to redevelop the site for Mann Edge Terrace, and again for the second development.

Funding completion came as part of a statewide affordable housing initiative from $917,849 in PennHOMES funding and $665,849 in Low-Income Housing Tax Credits that will generate over $6.4 million in private investments. Pennsylvania Senate Majority Leader Jake Corman (R-34) was instrumental in obtaining the tax credits.

Tax credits leverage investment by the private sector to stimulate the construction of affordable rental housing throughout Pennsylvania. The Pennsylvania Housing Finance Agency administers the tax credits.

Expires on Website

11/13/2022

Keywords

Mann Edge II senior housing Lewistown open house December 13 2017 SEDA-COG affordable

Attachments

Created at 11/13/2017 9:35 AM by Liz Regan
Last modified at 11/13/2017 9:35 AM by Liz Regan