Pennrose Completes Bensalem Veterans Residences in Bucks County, Pennsylvania

BENSALEM, Pa. — Pennrose has opened Bensalem Veterans Residences, a affordable residential community for seniors and senior veterans age 62 years and older. Partners on the project included Pennsylvania Housing Finance Agency, Bucks County, the Bucks County Housing Authority and Bensalem Township

The 39,673-square-foot apartment community offers 40 one-bedroom units in a three-story building in the Philadelphia suburb of Bensalem.

The project was financed with Low Income Housing Tax Credits awarded by the Pennsylvania Housing Finance Agency. Hudson Housing Capital was the syndicator of these credits and Santander Bank is the investor. Citi Bank provided construction and permanent financing. The County of Bucks Department of Housing & Community Development provided HOME funds and the Bucks County Housing Authority provided funding and Project-Based Vouchers.