McClinton announces more than $1.1 million in tax credits to help expand affordable housing for seniors
PA House Democratic Leader Joanna McClinton announced today $1,111,500 in Low-Income Housing Tax Credits have been awarded to Community of Compassion, Inc. to support the nonprofit’s project to develop new, affordable rental units for seniors in the neighborhood she serves.
“Housing is a human right, and with the COVID-19 pandemic creating financial hardships for so many, we have a responsibility now more than ever to take action and utilize resources to make sure our neighbors not only have a roof over their heads but are able to keep it,” said McClinton, D-Phila./Delaware. “I am grateful that Community of Compassion, Inc. is able to benefit from these tax credits and help expand affordable housing to our wisest neighbors in West and Southwest Philadelphia.”
McClinton said the organization’s plan is to construct a four-story building, consisting of 38 one-bedroom rental units at 6223-27 Catherine St. for seniors.
“Our Compassion Senior Living project is an extension of our ongoing effort to ensure our most vulnerable populations are cared for and have a quality place to call home,” Terrilynn Donnell, principal officer of Community of Compassion Inc. said. “We are so appreciative to work alongside local leaders like Rep. Joanna McClinton in making these opportunities possible for people who need them most in our communities.”
Donnell added Community of Compassion, Inc. will be working on the project with Gardner Capital Development II, Inc.
The federal tax credits are administered and approved by the Pennsylvania Housing Finance Agency. More information about the Low-Income Housing Tax Credits along with a complete list of recipients can be found on PHFA’s website.