New affordable housing project planned in Ferguson Township
Ferguson Township is one step closer to seeing more development take shape, with a proposed mixed-use building that could bring more affordable housing to the area.
Last week, the township planning commission voted to approve a land development plan submitted by HFL Corporation. The project proposes the construction of a three-story building at 114 W. Cherry Lane and would provide office space and 18 apartment units.
“It’s affordable housing based on a percentage of the area median income, so there will be apartments designated as 20, 50 and 60% of the area median income,” HFL Vice President of Development Troy Knecht said.
The first floor will be used for HFL offices, said John Sepp, president of PennTerra Engineering. the second and third floors will include one-, two- and three-bedroom apartments, all designated as workforce or affordable housing units. The basement will house a storage area, library, fitness area and maintenance facility. The building will be overseen and managed by Property Management Inc., and the units will be available for rent by families, professionals and students.
Three rental homes are located on the land where the development is being proposed, but Knecht said they have been vacant for more than a year and will be demolished prior to construction.
Overseen by the Pennsylvania Housing Finance Authority, HFL will earn tax credits for building the project and is required to maintain the units as affordable housing for at least 30 years. HFL has developed four other affordable housing projects in Centre County, including Limerock Court, Pleasant Pointe, Atherton Place and The Mews.
After consolidating two parcels of residential property with the commercial property that houses TGI Fridays, Comfort Suites, Sleep Inn, Valvoline and Step by Step School for Early Learning, the joint property would provide 445 parking spaces to be used by tenants and community members, Sepp said.
The project will also include sidewalks for pedestrian convenience and ADA accessibility features.
With approval from the planning commission, the board of supervisors will discuss the proposed development at a future meeting.
This story was originally published January 23, 2020 at 7:00 AM.
