Costa: $1.19 million in tax credits for Morningside Crossing to make housing more affordable
PITTSBURGH, July 15 – Pennsylvania state Rep. Dom Costa, D-Allegheny, said today that $1.19 million in tax credits awarded this week for Morningside Crossing will help keep the planned senior apartment complex affordable for future residents.
The tax credits through the Pennsylvania Housing Finance Agency provide a dollar-for-dollar federal tax reduction to developers in exchange for the creation or preservation of affordable housing to low-income individuals and families. A.M. Rodriguez Associates Inc., is converting and rehabilitating the former Morningside School into an 85 percent affordable (46 units) senior development that will include a first-floor senior center to be operated by the City of Pittsburgh.
“I would like to thank Senator Jay Costa, Mayor Bill Peduto, and former state Senator Jim Ferlo for their support of this project,” Costa said. “Morningside Crossing is a banner project in our community, and I’m proud to have helped in a small way make it a more affordable project and, in turn, help seniors who deserve nothing less than to live a quality life in their later years.”
Morningside Crossing was selected by a jury of affordable housing professionals for a funding award under the “Innovation in Design” category.