Phase II of the building’s rehabilitation will add an additional 25 Low-Income Housing Tax Credit (LIHTC) units: Two units for families earning at or below 20% of area median income (AMI); 11 units for families earning at or below 50% of AMI; and 12 units for families earning at or below 60% of AMI. Units will offer high-end finishes, and residents will be able to participate in locally provided services tailored specifically to them.
Huntington CIC provided $8.3 million in federal LIHTC equity and $1.5 million in Federal Historic Tax Credit (HTC) equity.
The project sponsor is Trek Development Group, Inc. For over 25 years, Trek has established itself as a leader in building and maintaining unique, sustainable, and thriving communities throughout the Pittsburgh, Pennsylvania metro area.
The impact for this community is greater than 25 affordable units: This is a great step in the revitalization of downtown Washington, Pennsylvania. The once thriving downtown has suffered from low occupancy in recent years and this project will breathe new life into the city. Building more downtown living will help small local businesses thrive as well as create new jobs, both during construction and afterwards.
Huntington is honored to support the revitalization of this downtown Washington community by creating safe, transformative housing that will have a positive impact on its residents.