HDC Acquires First Avenue Lot, Plans $17M Project

HDC of Lancaster has acquired the 3 acre vacant lot directly across the street from the Parkesburg Fire Company and simultaneously announced plans to build 72 apartments for senior citizens. Pictured above, the development will add over 3000 sq ft of retail space, provide a pedestrian path from Main Street to Minch Park and generally beautify the 300 block of Main Street. In a press release published last month, HDC highlighted the following points

• $17,000,000 project combining private funds with tax credit equity.

• Beautiful, new-construction, four-story building on former brownfield site – part of the original Parkesburg Iron Foundry that is now an empty lot.

• 3,100 sq ft of neighborhood commercial space along West First Avenue opposite the borough hall, the fire station, and the police department - perfect for a coffee shop and small retail/service store.

• New sidewalks, lighting and landscaping along borough’s major street

• Pedestrian path connecting the commercial area of West First Avenue with the walking trails, playing fields and activities in Minch Park.

• 140 parking spaces to serve 90 residents and commercial users that will also be available to provide additional parking for evening events in the park and neighboring churches.

• Improved neighborhood traffic circulation afforded by paving two underused alleys that will be used as secondary access points to parking areas.

Affordable Senior Housing

• Seventy-two spacious apartments (51 one-bedroom and 21 two-bedroom) for persons 55 years of age and older with incomes at 40, 50 & 60% of area median.

• Eight units designed for occupancy by persons with physical disabilities and offered at rents affordable to those at 20% of the area median income.

• Units have ample storage, individually-controlled heating and air-conditioning systems, and energy efficient appliances. Laundry facilities are provided on each floor.

• The private, residential entrance has a spacious two-story lobby featuring a gas fireplace and seating area adjacent to the management suite, mail center and elevator lobby.

• Second floor community spaces include a 1,300 square foot meeting room with TV area, balcony, and kitchen facilities; an exercise room with private health screening office; and a computer room/library.

• Market study confirms that there is a great need for more affordable apartment living options for seniors in this primary market area. Over 5,700 households of persons age 55 and older within a 12-mile radius of Parkesburg have annual incomes between $15,000 and $35,000.

• Average market rate rents for apartments comparable to our proposal are $1,000 to $1,500 per month, an amount that is out of reach for many seniors at the aforementioned income levels. Our monthly rents will range from $424 to $829.

Green Building

• Building design complies with the Pennsylvania Housing Finance Agency’s Green Building Standards.

• Outdoor landscaping will be drought resistant and irrigation-free.

• Interior finishes will be selected to be resilient, attractive and promote a healthful indoor environment – no mold propagating materials in damp areas; only low VOC primers, paints, and sealants; only urea formaldehyde free composite woods.

• Green Building Guide and orientation will be provided to tenants to explaining the features, benefits and how to care for green building materials.