SUMMARY

Project Name: PHA - Park Street Apartments

Department: Community Solutions

Start Date: 7/01/2023

End Date: 6/30/2025

PROJECT DESCRIPTION:

This funding is intended to facilitate construction of new affordable rental and homeownership housing units at the Park Street Christian Church and Hinton Avenue projects.

RELATIONSHIP TO comprehensive PLAN:

Chapter 5 : Housing

Goal 1. Funding Commitments

Establish and sustain a funding commitment to address affordable housing needs, tied to requirements to address community goals.

Goal 2. Diverse Housing Throughout the City

Support a wide range of rental and homeownership housing choices that are

integrated and balanced across the city, and that meet multiple City goals including

community sustainability, walkability, bike-ability, ADA accessibility, public transit use,

increased support for families with children and low-income households, access to food, access to local jobs, thriving local businesses, and decreased vehicle use.

Goal 7. Subsidy Programs

Focus and align subsidy programs with community-defined priorities and make

changes to increase the impact of public spending.

Goal 8. Collaboration

Coordinate local and regional housing goals.

PROJECT OBJECTIVES / STATUS:

Objectives: To provide funds for the construction of affordable housing units.

Status: This affordable housing project anticipates the new construction of approximately 50 rental units. Planning is underway and the owner/developer is anticipating Low Income Housing Tax Credit (LIHTC) application submittal in early 2023.