COVID-19 UPDATE

North Hills & Crest Manor
Investment Efforts

North Hills Manor Investment Effort
Project Summary

Initial Project Timeline: North Hills Investment Effort

March 18, 2014 – Community Meeting, Upper Dublin Township Fire Hall

May 2014 – Proposals received and reviewed by the MCHA

June 2014 – MCHA scheduled to select a Development Partner

Summer/Fall 2014 – Conduct multiple community meetings

Frequently Asked Questions: North Hills Investment Effort

The answer is twofold: a) if the current tenants remain income qualified and b) if they are a resident in good standing at a future date, (to be determined) then they will have the right to move into the new homes.

The homes will likely be townhomes or twins. However, part of why we are coming to the community is for input on the layout and design. We will need community to lead us on this and many other points.

There are a variety of funding sources, but one of the primary sources of construction financing likely includes the federal Low Income Housing Tax Credit. Based on industry standards, an effort of this scale would likely include a budget of approximately $17M.

Currently, the Manor is comprised of a mix of one to four bedroom homes. The goal is to replace the same type of homes, but perhaps not exactly the same number of one bedroom units. The goal is to still have a mix of those same bedroom types.

The new units will be approximately the same size. The goal is to incorporate central air and new operating systems in the brand new construction.

It is too early to answer that. We will work with the developer and community to creatively plan for common area.

There are no plans to demolish any existing structures. We will meet with the community to determine what the community wants. The concept includes exploring options to strategically invest in the future of the community.

Yes, the new homes will be rental and the future tenants must be income qualified to live there. The income qualifications will change slightly, but will not impact 99% of the current residents at the Manor. A resident now may qualify for housing at the Manor if their income does not exceed 80% of Area Median Income (AMI). Under the conditions of some of the funding for the new homes, that limit would be at 60% of AMI. Again, 99% of our residents at the Manor fall within that standard.

Throughout this effort, we will be engaging with the Community to invest in a manner consistent with their values, with the goal of improving the entire community’s value.

Crest Manor Investment Effort
Project Summary

Initial Project Timeline: Crest Manor Investment Effort

March 31, 2014 – Community Meeting, Willow Hill Elementary School

April 2014 – MCHA issues Request for Proposal seeking a Development Partner

May 2014 – Proposals received and reviewed by the MCHA

June 2014 – MCHA scheduled to select a Development Partner

Summer/Fall 2014 – Conduct multiple community meetings Development Partner

Frequently Asked Questions: Crest Manor Investment Effort

The answer is twofold: a) if the current tenants remain income qualified and b) if they are a resident in good standing at a future date, (to be determined) then they will have the right to move into the new homes.

There are a variety of funding sources, but one of the primary sources of construction financing likely includes the federal Low Income Housing Tax Credit. Based on industry standards, an effort of this scale would likely include a budget of approximately $12 million dollars.

Yes, the new homes will be rental and the future tenants must be income qualified to live there. The income qualifications will change slightly, but will not the vast majority of the current residents. A resident now may qualify for housing at the Manor if their income does not exceed 80% of Area Median Income (AMI). Under the conditions of some of the funding for the new homes, that limit would be at 60% of AMI. Again, the vast majority of the current residents at the Crest Manor fall within that standard and the MCHA will attempt to make accommodations for any households that may not.