Housing complex not given tax credit
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WAYNESBURG – A four-story apartment building for seniors proposed to be built in Waynesburg has failed to receive the federal housing tax credits that are needed to help finance the project.
The developer of the proposed complex said Friday, however, his company has not given up on the project.
“We’d like to continue to pursue this,” said David Burg, a principal of PIRHL Developers LLC of Warrensville Heights, Ohio. “We’re studying it right now and are in the exploratory phase to make sure it makes sense to move forward,” he said.
Burg said he believes the project, which would provide 51 apartments for seniors, not only is needed in the community but also “nicely” fits the guidelines for the federal tax credit program.
“We don’t want to give up,” he said. “We believe in Waynesburg, and we believe there is a need for this project in the community.”
The company had applied for low-income housing tax credits through the Pennsylvania Housing Finance Agency, which announced the awards last month. The credits are awarded on a competitive basis. PIRHL was seeking $10 million in credits.
PIRHL has proposed constructing the apartment building on the north side of High Street, between High and Nazer streets. The building would contain 31 one-bedroom and 20 two-bedroom apartments and a large community room.
The complex would provide housing for independent seniors, 62 or older, whose income is about 60 percent or less of the medium income for the county, people with annual incomes of $23,000 to $30,000.
Rent for a single-bedroom apartment would be between $410 and $500, and for a two-bedroom apartment between $470 and $530.
The project earlier received the necessary zoning permits from Waynesburg Borough Zoning Hearing Board. Waynesburg Borough council also showed its support for the project by agreeing to contribute $10,000 a year for five years to it.
PIRHL, in addition, had received financial support from another program administered by the Pennsylvania Housing Finance Agency. The agency awarded the project a $600,000 grant in December from the Pennsylvania Housing Affordability and Rehabilitation Enhancement Fund and Marcellus Shale impact fees.