Rep. Marla Brown (R-Lawrence) announced that the Pennsylvania Housing Finance Agency (PHFA) has awarded $1.4 million in tax credits and an additional $750,000 in Pennsylvania Housing Affordability and Rehabilitation Enhancement (PHARE) funding to LG Lofts in New Castle.
The LG Lofts development will feature the new construction of a three-story building, encompassing 49,569 square feet. The building will house nine one-bedroom, 16 two-bedroom, and 15 three-bedroom units, providing a range of housing options for general occupancy. Additionally, six units will be handicap accessible.
“This significant investment in the LG Lofts development represents a major step forward in addressing the affordable housing needs of our community,” said Brown. “The combination of affordable housing and PHARE funding highlights our commitment to providing safe, affordable and accessible housing for all residents.”
The competitive nature of the tax credit program means that only a select number of projects receive funding each year. The LG Lofts development was chosen for its potential to provide high-quality housing solutions and its alignment with community needs.
“By supporting developments like LG Lofts, we are not only creating new housing opportunities but also contributing to the revitalization and growth of our local communities,” said Brown. “I have been on board with this project from the beginning, and I am proud to support it. I look forward to seeing its positive impact on New Castle and Lawrence County.”
PHARE funding is made available through the Commonwealth’s allocation of National Housing Trust Funds. This application cycle also included the second round of awards under the Pennsylvania Housing Tax Credit (PHTC).
Representative Marla Brown
9th Legislative District
Pennsylvania House of Representatives
Media Contact: Rick Leiner
717-260-6437 (office), 717-497-8478 (cell)
Rleiner@pahousegop.com
RepMarlaBrown.com / Facebook.com/RepMarlaBrown
