Number of Units

23

Year Developed

2009

Development Costs

$4,833,706

Goal

Preservation of affordable housing. Enterprise Green Communities

Description

This project and Northeast II – Ditman Street marked the first time Mission First received two allocations of Low Income Housing Tax Credits in the same round (in the second round of 2007).  Northeast I – Keystone involved the rehabilitation and preservation of a property in Northeast Philadelphia that was already in Mission First’s portfolio.  Twenty-three residents were temporarily relocated while the building was renovated and returned to a “new” building with added amenities. In accordance with Enterprise Green Communities criteria, all units have individual high-efficiency HVAC systems, Energy-Star appliances, low-flow plumbing fixtures and extra ceiling insulation. In addition, four units were converted to an accessible unit, complete with roll-in showers and an ADA-compliant kitchen, and another unit was designed to accommodate an individual with a visual and/or hearing impairment.

 

Financing for the development included equity from the low income housing tax credits, an Affordable Housing Program grant from the Federal Home Loan Bank of Pittsburgh and permanent financing from Community Lenders Community Development Corporation in addition to sponsor equity.