Two Lancaster County housing nonprofits have announced plans to collaborate on developing senior housing projects funded through low-income housing tax credits.
HDC MidAtlantic and Landis Quality Living this week said they signed a joint venture agreement formalizing the partnership. Landis Quality Living is a division of retirement housing nonprofit Landis Communities.
It provides for them to work together “to identify potential sites, equally fund, and actively participate in all steps of the development process,” they said in a media release. Potential projects would be in their existing footprint, which comprises Lancaster County and its neighbor counties: Berks, Chester, Dauphin, Lebanon and York.
The arrangement combines HDC’s strengths as an affordable housing developer and property manager with Landis Communities’ strengths in serving the senior market, the two organizations said.
The two organizations previously collaborated on Mountain View Terrace, a 36-unit affordable housing complex in New Holland for ages 62 and over. Built for $7.5 million, it opened in late 2015.
HDC spokeswoman Kate Hartman initially said the partnership had nothing specific in the works as yet; she subsequently amended that, saying there are a couple of potential ventures “in early stages of pre-development.” Financial arrangements will be specific to each project, she said.
Both organizations are involved — separately — in affordable housing projects in Lancaster city. Landis Quality Living is wrapping up Landis Place on King, a $28 million, 79-unit complex for ages 55 and up. Ten of the units are income-restricted; the remainder are market rate.
HDC, meanwhile, is working to close on its financing for The Apartments at College Avenue, a $23.4 million project with 64 units for households making 20% to 60% of Lancaster County median income, or $11,000 to $45,000 per years.
It’s the first of several affordable housing projects HDC is planning in and around the former St. Joseph Hospital campus. A private developer, Washington Place Equities, plans to renovate the majority of the campus into a mixture of market-rate apartments and townhouses.
