Jamestown Village
Jamestown Village was built in 1971 and was originally financed under Section 236. The community includes 275 one and two bedroom apartments, 273 of which are covered by Section 8 project-based subsidy. The property is conveniently located near public transportation.
Jamestown Village
300 Lackawanna Street
Reading, Pennsylvania 19601
Phone: (610) 374 8116
Fax: (610) 374 6261
Office Hours: M-F 9:00 am-5:00 pm
Preservation Transaction Description
First Mortgage Financing: Taxable financing through PHFA.
Equity Financing: Equity raised through 9% low income housing tax credits.
Section 8 Contract Renewal: Yes - rent increase to market rents.
Property Rehabilitation Scope
- $6.195 million in total rehabilitation funding including:
- kitchen cabinets, counters, appliances & flooring
- bathroom vanities, water closet, lavatories & flooring
- gas-fired furnace replacement
- life safety improvements
- facade improvements
- construction of new community building and management office.
Other Benefits for Residents and the Community
A new playground, computer center, exercise room, After-School Program, Resident Services Program and on-site security.
Development Partners
Allocating Agency
Pennsylvania Housing Finance Agency
Local HUD Office
Philadelphia Multifamily HUB
Municipality
Reading, Pennsylvania
First Mortgage Lender
Pennsylvania Housing Finance Agency
Tax Credit Investor
SunAmerica Affordable Housing Partners, Inc.
Legal Counsel
Blank Rome LLP
Architect
The Architectural Team, Inc.
General Contractor
Harkins Construction Management, Inc.
Due Diligence Contractors
Appraisal: Novogradac & Co.
Capital Needs: EMG
Environmental: EMG
Surveyor: Ludgate Engineering
