The new Pennypack Crossing older adult apartment building is starting to take shape in Holme Circle. Last week, the new owners and operators of the former Infant Jesus Convent told neighbors how they might qualify to live there.
Speaking at the monthly meeting of the Holme Circle Civic Association on Feb. 25, officials from Conifer Real Estate and Inglis Housing Corp. reported that they might break ground at 2723 Holme Ave. by the end of the calendar year.
It will be more of a large-scale renovation job than new construction, as 44 new single-bedroom apartments will be fitted into the former residence of the Sisters of the Holy Family of Nazareth. The building connects physically with Nazareth Hospital, which the sisters founded in 1940, via a footbridge and tunnel. But those connections will be severed before the apartments open.
Among the 44 units, 32 will be reserved for qualifying residents 55 and older. The other 12 will be for folks with disabilities, including eight with no age restrictions and four for those 55 and older. Conifer will oversee the construction and management and will collaborate with Inglis in serving disabled residents.
Conifer and Inglis are both well-established in the Philadelphia region. Conifer has numerous apartment buildings, including a similar older adult residence in Andalusia, Bucks County, near Bristol Pike and Woodhaven Road, according to Charles Lewis, the company’s senior vice president.
Kevin Kelly, Inglis’ vice president and chief financial officer, reported that his agency manages 259 apartments in the city and another building in Marlton, New Jersey. It has over 200 people on its waiting list.
“So the need is acute,” Kelly said.
Lewis reported that the companies have formalized their agreement to buy the property from the nuns. Terms of the sale were not disclosed. The developers have also obtained city zoning approval for the project, Lewis added.
Progress now depends largely on the outcome of a the developers’ application for state tax credits. On Feb. 13, they applied to the Pennsylvania Housing Finance Agency, Lewis said. The tax credits would be a crucial component of the project’s financing, according to the Conifer executive.
If the application is successful, the developers may hold a formal groundbreaking late this year or early next. That event will also signal the first opportunity for prospective residents to sign up for the project’s “interest list.” Those who sign up for that will be contacted whenever new information is available about the site. The interest list is not to be confused with the waiting list for admittance to the building.
A separate application process will begin 120 days before the building’s opening. Applicants who succeed through financial screenings and personal background checks will be added to the waiting list chronologically.
While there will be income limitations on residents, they will be expected to have a certain minimum income. The maximum income for single-occupancy will be about $33,000 a year, while the minimum income level will be about half of the maximum. The apartments are considered “affordable housing,” not “low income housing.” Rents won’t be government subsidized. Depending on the resident’s income, monthly rent could range from $659 to $796 plus utilities.
In other Holme Circle Civic business:
ull; Former HCCA President Elsie Stevens chaired the meeting when sitting Vice President Mike Gould had to leave on a personal matter. Stevens urged neighbors to report any vandalism, graffiti or suspicious activity at the former Northeast Community Center, which recently became vacant. Witnesses should call 911 or contact the 8th Police District.
ull; Stevens also reported that the 8th district’s Police Service Area 3 meeting will be on Monday, March 23, at 7 p.m. at the Immaculate Mary Home, 2990 Holme Ave. The public is welcome to attend.
ull; The Chris Born Nationwide agency at 2865 Holme Ave. donated 300 coats to veterans in need during its recently completed holiday coat drive. ••
