The board of directors of the Federal Home Loan Bank of Pittsburgh (FHLBank Pittsburgh) has approved $10.24 million in grants, part of which will help a Springfield affordable housing project.
The grants will help finance a total of 26 housing projects in multiple states. The grants will be used to create units of housing for very-low-, low- and moderate-income individuals and families, including some with special needs.
The Worthington House Campus in Springfield will receive funding for 60 units, for a total of $2.2 million in development costs. The project will get $423,913 in AHP grants.
This project involves both the renovation of existing facilities and the creation of new units, according to FHLBank Pittsburgh. Sixty single-room occupancy units will result from rehabilitations; 32 efficiency units will be the product of new construction. The proposed expansion encompasses a woman’s shelter, health clinic and counseling facilities. AHP funds are limited to the 60 units to be rehabilitated.
FHLBank Pittsburgh also selected projects in Delaware, Pennsylvania, West Virginia, Maryland, Iowa, Kentucky and New York – creating 908 units of housing.