The redevelopment of the area around and within the former UPMC/St. Joseph’s hospital site into a mixed-use space is a significant project meeting a critical need. With the Steinman Foundation committing $1.5 million and United Disabilities Services contributing $750,000, the project at 213 College Avenue is off to a strong start. Affordable housing is a vital part of community revitalization, and this investment is a positive step toward addressing housing needs while also potentially boosting local economic activity.
We are thrilled that these two partners have pledged their early support of HDC’s vision to build more affordable housing in Lancaster,” stated Dana Hanchin, President and CEO of HDC. “But for The Steinman Foundation’s contribution this project could not happen. And the contribution from UDS helps us reach some of the most vulnerable households in our community. These investments not only make sure the Apartments at College Ave are affordable for years to come, but they will also leverage more vital private investment in the redevelopment of this important site for the city.”
The development represents HDC’s latest effort to meet the overwhelming need for affordable housing and counteract rising rent costs in the city. Every week HDC receives hundreds of inquiries about its housing and hears countless stories of area residents struggling to find adequate housing. According to a comprehensive study this year by the Pennsylvania Housing Finance Agency (PHFA), Lancaster County needs nearly 7,000 additional affordable homes for low-income households to meet current demand.
Shane Zimmerman, President of The Steinman Foundation said,
“The Steinman Foundation is pleased to support such an important and transformational component of the plan to redevelop the vacant UPMC Pinnacle campus. Lancaster County is in dire need of high-quality affordable housing and we are confident that the HDC MidAtlantic team will execute and deliver a best in class product. We are fortunate to have their expertise and experience headquartered here in our community and we are thrilled that the project will be further enhanced by the support of United Disabilities Services.”
Phase one of HDC’s proposed development will include the construction of a five-story building with one- and two-bedroom affordable apartments at 213 College Avenue, across the street from the main hospital site. Total cost for this phase is expected to be $15.4 million
Funding from UDS makes possible the construction of twelve fully ADA accessible apartments within the development, twice as many as HDC is usually able to provide.
In addition to the project on college avenue, a second grant in the form of a loan in the amount of $750,000 to HDC will be disbursed to the construction company at closing for a term of 15 years, bringing The Steinman Foundation’s total commitment to $1,500,000.