UPPER GWYNEDD, PA — A long controversial affordable housing project in Upper Gwynedd Township has received a key loan from a new Montgomery County program designed to support broader economic opportunity throughout the region.
The new MontcoForward program has awarded the 60-unit, multifamily Cornerstone at Pennbrook Station a $970,000 grant as it looks to get off the ground. The proposed facility on 1500 Pennbrook Parkway aims to provide “workforce” housing for crucial personnel who have been increasingly priced out of expensive areas.
“For those who need to live close to where they work—such as our fire, police, emergency personnel, and health care workers— not being nearby in the event of an emergency is a detriment to everyone,” Montgomery County Commissioner Thomas DiBello said in a statement. “Housing for our workforce is essential to safe communities.”
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The group has faced fierce opposition from local groups who either do not agree or do not see the necessity in providing more reasonably-priced housing a rapidly growing area that has steadily grown more and more expensive, pricing out many.
The county says it created MontcoForward for situations just like this one, where a low interest loan to a community-conscious developer like Walter Group can make a huge difference.
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“We are proud to be bringing quality affordable housing to Upper Gwynedd in Montgomery County,” Joseph DelDuca, principal of the Walters Group, said in a statement. “We are extremely grateful to the county for their strong support on this worthwhile development.”
The county’s new program offers developers who meet certain affordability criteria for apply to up to 50 percent of project costs, up to $1 million.
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Mike Hays, head of the Montco 30 Percent initiative that advocates for more sustainable housing practices around the county, applauded the move.
“As someone who grew up in this county, where my working-class parents purchased an affordable old farm house, I see with clear eyes every day that the dream of home ownership is out-of-reach for too many hard working individuals and families,” Hays told Patch. “Far too many of our service and construction workers, teachers, social workers and seniors spend more than 30 percent of their income on housing. This is not sustainable, yet this loan is one more step in the right direction.”
Beyond being affordable, the proposal in Upper Gwynedd also seeks to meet the county’s transit-oriented design parameters, and it will be built with walking, biking, and public transit in mind, officials said.
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