Harkins, Merski: Nearly $700,000 in tax credits awarded to expand affordable rental housing
ERIE, Oct. 14 – Erie residents will soon have greater options for affordable rental housing, thanks to nearly $700,000 in federal tax credit funding awarded today, state Reps. Pat Harkins and Bob Merski announced.
The lawmakers, both D-Erie, said the funding to GMA Development Group, LLC, for Royal Homes development sites in Erie will fund construction of 26 units.
“Lack of affordable housing is a persistent problem for Pennsylvania’s low-income households, and too many families already spend more than half of their income on rent, leaving little left over for groceries, prescriptions and other necessities,” Harkins said. “Securing this funding will help expand housing options that give families livable options. It won’t solve our housing shortage overnight, but it’s a good start.”
Merski said, “A stable, permanent place to call home is such an important foundation in life, but not all families have easy access to safe, affordable housing. The tax credits awarded today should help boost the supply of affordable rental units for Erie families.”
The Low Income Housing Tax Credits are administered by the Pennsylvania Housing Finance Agency and were approved by the agency’s board.
The funding is part of a package of $43.6 million awarded statewide for the construction of 1,974 affordable multifamily rental units. More information on the awards is available here.