State College

Ferguson Township’s Stonebridge apartments receive tax credit

The Pennsylvania Housing Finance Agency approved a tax credit to assist in the construction of the Stonebridge Senior Apartments, Sen. Jake Corman R-Benner Township, said in a news release Thursday. Stonebridge is a proposed 58-unit senior housing development in Ferguson Township.

“This is the first affordable senior housing community to be developed in the Centre Region in about 15 years, and I am very glad to see this PHFA support in the community,” Corman said in the release.

The PHFA awards housing credits to developers, providing an incentive for private investment. About 25 percent of the proposals are funded each year.