A $6 million senior citizen housing complex consisting of 38 to 40 apartments may be constructed on a parking lot near Mulberry Street and Via Bella should a developer receive tax credits from the Pennsylvania Housing Finance Agency by March.
City Council is expected to review the proposal by Fortus Group, of Fort Wayne, Ind., at its meeting Thursday.
Kevin Hogan, a company representative, met with the city economic revitalization committee this week to discuss the four-story building. The city finance committee is expected to review the proposal today.
Fortus Group agreed to the $250,000 assessed value of the parking lot and wants to make a transaction with the city that owns the lot. The proposal is contingent upon receiving notice about the tax credits in March before the company commits to the project.
It would be the first senior citizen housing complex to be built within the city's central business district, said John Grado, city engineer and director of community and economic development.
Most of the apartments are one- and two-bedroom units, renting from $400 up to $625, Hogan said.
Finding affordable housing for seniors, age 62 and up, has been difficult because of the cost of rents increasing with the introduction of the Marcellus Shale drilling, he said.