MOUNT JOY, Pa. (WHTM) – The former Gerberich Payne Shoe Factory renovation is set to be completed by Feb. 1, 2022 and will now be Mount Joy Senior Apartments.
The new complex will provide assisted housing for senior citizens with cost adjusted rent dependent on the individuals Area Median Income (AMI).
Available, cost adjusted units consist of:
- Two, 1 bedroom units for occupied to households at or below 20% AMI.
- Ten, 1 bedroom units for those at or below 50% AMI.
- Two, 2 bedroom units for those at 20% AMI.
- Eleven, 2 bedroom units for those at or below 60% AMI.
Overall, approximately 12% of the total square footage will eventually be utilized for commercial use.
The funding for this project derived from both public and private investments. Soft debt was provided from the Pennsylvania Housing Finance Agency (PHFA) and Lancaster County. This was combined with permanent debt from PHFA and Santander Bank. The project is also being funded through Federal Housing Credits that were purchased by Redstone Capital and Santander Bank.
Lefevre Funk Architects, the architects for the project will act as the property managers of the apartments.
A not-for-profit service provider based out of Lancaster, called The Lodge, will provide all supportive services to the tenants.
The four-story shoe factory, which was originally build in 1919, but has not been utilized as a production facility since 1974. This will be the first time in 15 years that the lot will not be vacant.
For more information contact Andy Haines at 814-272-8907 or email@example.com