Hankin Group Breaks Ground for Affordable Senior Housing Project in Phoenixville
Exton, PA — November 3, 2022 – Exton developer, Hankin Group held a groundbreaking ceremony for the new Phoenixville Senior Housing project on Tuesday, Nov. 1. Hankin Group welcomed project partners, as well as regional and city community leaders to celebrate the commencement of construction on Hankin Group’s newest development project, a 50-unit affordable senior housing building located in the Borough of Phoenixville, Chester County, PA.
The Phoenixville Senior Housing project will repurpose the former Borough maintenance property into a state-of-the-art 50-unit affordable senior housing community with a focus on healthy lifestyles. In support of the project, the Borough of Phoenixville has donated the property located at the intersection of Buchanan and Morgan Streets.
“Phoenixville Senior Housing began with a vision from the Borough to find the best way to meet the housing needs of their community,” said Bob Hankin, CEO of Hankin Group, “The architecture of the building has been designed to knit into the fabric of historic Phoenixville and energize the surrounding neighborhoods by incorporating pedestrian-friendly environments and beautiful streetscapes. The inside is designed to Enterprise Green Communities standards. This will ensure high-efficiency systems and low utility expenses.”
Phoenixville, a historic river town with a long-time resident base, has experienced an urban rebound like few other towns in the Philadelphia area. The Borough’s success has produced unintended consequences of growth. The housing demand in Phoenixville is high and affordable housing options are dwindling. In 2017, the Borough created an Affordable Housing Task Force to address limited affordable housing options in the Phoenixville area.
“With rising housing prices, and continued pressure of redevelopment, Phoenixville Borough Council sought to find solutions that would allow our seniors to affordably stay in the borough, within their community, amongst their family and neighbors, in vibrant walkable downtown, said Jonathan Ewald, Borough Council President, “Partnering with the Hankin Group and with the support from Chester County and PHFA, this project represents the best long-term use, an overall community benefit, and a true public, private partnership.”
To tackle the growing issue of housing costs outpacing income, the Phoenixville Senior Housing project was created with full support and effort made by multiple organizations. Phoenixville Senior Housing is provided in joint venture by Hankin Group, PA Housing Finance Agency, Borough of Phoenixville, Chester County Department of Community Development, Key Bank and Phoenixville Federal Bank. KeyBank’s Community Development Lending and Investment (CDLI) group helped finance the construction of the Phoenixville Senior Housing with a Low Income Housing Tax Credit Investment (LIHTC).
"A range of housing options available across all incomes is a cornerstone for a healthy community, and developments like Phoenixville Senior Housing are crucial,” said Chester County Commissioners' Chair Marian Moskowitz.
County Commissioner Michelle Kichline added, “The County is pleased to contribute to the creation of places like Phoenixville Senior Housing… we want everyone to have options to remain a part of this community that we all love."
Phoenixville Senior Housing is designed to encourage interaction between residents and the wider community through its physical design and community partnerships. The development will include accessible units and access to group activity, community, and fitness rooms. A supportive services office will monitor and counsel the tenants on a variety of healthy lifestyle topics. Hankin Group has entered MOUs with Health Care Access, the Clinic and Phoenixville Hospital to administer healthcare-related services to increase the knowledge, self-care, and awareness of the mental, emotional, physical, social, and spiritual aspects of health in the residents through healthy eating, exercise, disease management, referrals to specialized health resources, and defined healthcare services plans.
“Our senior citizens helped build the towns and boroughs that we call home today. So, it’s only right they have a place of their own in the heart of Phoenixville and get to share in its success as a thriving destination and a safe, healthy, walkable community,” said state Senator Carolyn Comitta. “This project has been a long time coming, but teamwork and persistence paid off. I want to thank all our partners who worked together to get us to this point, and I look forward to the building’s opening.”