Veterans Family Housing
Veterans and their families will find a home (in close proximity to public transit) at the Impact Veterans Family Center (IVFC).
The IVFC is composed of twenty-six (26) units of affordable rental housing for Veterans and families. Impact Services Corporation (Impact) will renovate a former factory building (donated to Impact in 1997 by Technitrol, Inc.) The building is comprised of four floors and was constructed of brick in approximately 1854. Since 1999, the building has housed Impact’s headquarters which will continue to fully occupy the five story building which is adjacent. The renovation and conversion of the building to residential units will cost approximately $9 million. The building will be converted to eight (8) three-bedroom units and seventeen (17) two-bedroom units of affordable housing for twenty-five (25) low-income Veterans and their families and one (1) one bedroom unit for the low-income program monitor. The project will be 100% visitAble and four of the units will be fully accessible to persons with disabilities. Operating subsidies and capital support are being provided by the Philadelphia Housing Authority (PHA).
The project will serve low-income Veterans (including returning Veterans) and their family members. The potential number of individuals and family members to be served at a single point in time is fifty-eight (58) veterans and their family members (where appropriate) and one (1) low-income program monitor)). Impact expects to serve approximately 400 Veterans and their family members over a 15 year period (the period of the tax credits).
The project has been fully funded through an award of low-income housing tax credits from the Pennsylvania Housing Finance Agency which has been syndicated by the National Equity Fund and purchased by TD Bank, funding from the Federal Home Loan Bank of New York, the Federal Home Loan Bank of Pittsburgh, the Home Depot Foundation and TD Bank. Construction will start in Spring 2014 and be completed by January 2015.
Inception to Present
People served for fiscal year
July 1, 2013 to June 30, 2014
Employment & training program