the NHP Foundation Preserves
Affordable Housing in PENNSYLVANIA
in Levittown, Pennsylvania is a multi-family property built in 1972. While well maintained, it was an aging community in need of a comprehensive makeover. The rehabilitation project includes a full upgrade of the mechanical infrastructure, together with significant interior improvements, including new doors and flooring, major updating of kitchens and baths, and new paint and carpeting throughout the complex. In addition, five percent of the apartments are being made accessible to those with disabilities, in full compliance with the Americans with Disabilities Act.
The Foxwood Manor property includes an on-site community center that provides residents a computer lab and an array of education, health, civic education and financial literacy programs. All residents from children through seniors are part of an active, welcoming community committed to healthy lifestyles, personal development and civic participation.
Foxwood Manor has 304 units, totaling 213,000 square feet. It is a low- to moderate-income property that includes 132 units at or below 50% AMI, 96 units at or below 60% AMI, and 76 units at or below 95% AMI.
Secured financing and funding for this project included:
- $ 12,700,000Tax-exempt Bonds
- $ 6,906,0004% Low-Income Housing Tax Credits (LIHTC’s)
- $ 1,328,000Existing Property Reserves
- $ 1,773,000Deferred Developer Fee
- $ 12,800,000Deferred Sale Price
- $ 334,000Other Sources
- $ 31,965Hard Cost Per Unit
diverse income and rent structure provides housing for a range of households from low to moderate income. Notwithstanding income levels, the same level of amenities and access to our services is offered to all residents.
Foxwood Manor Apartments
one example of how NHPF’s commitment to
affordable housing has helped American families.
For more information on NHPF's properties, please visit http://nhpfoundation.org/properties.php.