PHILADELPHIA, PA (October 27, 2003)
|PHA's Carl Greene is joined by Commr. Nellie Reyolds,
Councilwoman Donna Reed-Miller, Commr. Pat Eiding, and
Councilwoman/PHA Commr. Jannie Blackwell at the ribbon cutting for
|97 year old Mattie Mae Williams celebrated her birthday by
moving into one of the newly renovated units at Suffolk
|Suffolk Manor now features fully loaded kitchens while
retaining its historic features and beauty.
Philadelphia Housing Authoritys newest property is also its oldest.
Thanks in part to historic tax credits, PHA was able to acquire and
redevelop Suffolk Manor, an apartment complex built in 1929. PHA
Executive Director Carl Greene said the property had deteriorated
into a state of severe disrepair. We saw this as a great
opportunity to convert a building which had fallen on hard times
into modern affordable housing, Greene said.
PHA sought and received special designation from the
Commonwealth of Pennsylvania and the National Park Service making
the building a historical site. That cleared the way for the
historic rehabilitation tax credits. PHA has made extensive use of
Low Income Housing Tax Credits (LIHTC) to raise capital for new
construction throughout the city and has done so again in this
case. However, Suffolk Manor marks the first time PHA has also
received historic tax credits.
The overhaul of the 137-unit complex cost $24 million, of which
$13 million is coming from tax credits. The remainder of the
funding is a combination of federal capital grants and the
diversion of rental voucher money.
The outside of the five buildings has been restored to its
original beauty while the apartments have been totally renovated
with all the modern amenities. The first residents are now moving
in. PHA expects the building to be completely occupied by
mid-December. The complex includes 119 one-bedroom apartments and
18 two-bedroom units. Seventy-seven of the apartments are reserved
for seniors only.
The redevelopment is expected to provide an immediate boost to
both the quality of life and the economy in the Fern Rock/Olney
section of North Philadelphia. Carl Greene said the complex is a
great example of how funds earmarked for public housing can be used
to lift an entire community.
PHA is transforming public housing in the city of Philadelphia.
As the nations fourth largest public housing agency serving more
than 76,000 residents, PHA is the first housing authority in the U.
S. designated by the Institute of Real Estate Management (IREM) of
the National Association of Realtors as an Accredited Management
Organization. This designation is awarded to firms engaged in
property management that have met IREMs high standards in the areas
of education, experience, integrity and financial stability.