PHFA approved $1M of funds and $352,318 of tax credits for the construction of the 42,000 sf Penns Crossing, a rental development offering 52 units for senior citizens. Estimated cost for the three-story building is $4.5M, with the additional funds coming from Berks County, PNC Bank and the Federal Home Loan Bank of Pittsburgh.

Additionally, PHFA has approved $1.5M in funding and $253,664 in tax credits for the construction of Deer Lake Apartments, a 30,300 sf, 26-unit structure located at the intersection of Water Street and Creston Drive. The sponsor is Housing Development Corp. of Lancaster County.

PHFA also committed $718,000 and $667,000 in tax credits to a 46-unit complex on a two-acre, 11-building site in South Central Philadelphia. The agency also arranged a $2,442,000 loan towards that development, funding made available under the federal HOPE VI housing program. The properties are located at 1306-1342 Catherine St., 1207-1211 Christian St., 1311-1317 Fitzwater St., 1229-1235 Kimball St., 1122-1128 Montrose St., 1236-1337 Webster St., 900-1011 South Twelfth St. and 700-823 South Thirteenth St. Uni-Penn Housing Partnership, a joint venture between Pennrose Properties, Inc., and Universal Community Homes, is sponsoring the project.