PHILADELPHIA — Pennrose, Wynnefield Overbrook Revitalization Corporation (WORC) and other project partners have broken ground on Good Shepherd, a 55-unit, affordable seniors housing community at the site of the former Good Shepherd Presbyterian Church in the Overbrook neighborhood of Philadelphia.
The project is slated to be completed in Fall 2025.
The four story, 53,000 square foot affordable housing community will offer one-bedroom apartments for seniors earning between 20 percent and 60 percent of the area Mmdian income (AMI), about $430 to $1,290 for a one-person household. The sustainable building will be designed to meet Enterprise Green Communities and Zero Energy Ready Home standards.
Pennrose Management Company (PMC) will work with local community partners, including the WORC and Neighbors of Overbook Association, to identify resident needs and provide tailored resources and services, including social, health and educational programming.
Following a fire and the destruction of the Good Shepherd Presbyterian Church in 2016, church leaders selected Pennrose to transform the site and help address the area’s shortage of quality affordable housing. In Philadelphia, more than 59,000 households are on the waiting list for affordable housing, and in Overbrook alone, 62 percent of renters are rent-burdened, meaning over 30 percent of their income is spent on rent.
Sources of funding for the project include Low-Income Housing Tax Credits (LIHTC); State LIHTC; PHFA permanent debt; PHFA PHARE funds; Philadelphia DHCD funds; PA Redevelopment Assistance Capital Program (RACP); Alexander G. Mercer Board of City Trust funds; and developer reinvestment.