Montgomery County Housing Authority


For the latest information, please click on the below link

www.investcrestmanor.org

 Crest Manor Investment Effort

Project Summary

  • As discussed during the public meeting on March 31, 2014, Abington Township, Montgomery County and the MCHA are collaborating to strategically invest approximately $12 M into the Crestmont Community.

  • There are no formal plans developed at this time, nothing has been decided, nothing is 'set in stone' and we strongly encourage neighborhood participation in the creation of the plans.

  • The multi-year concept likely includes renovating the 40 public housing units at Crest Manor by investing in the exteriors, interiors and the buildings’ operating systems.

  • The goals of the effort include respecting the history of the neighborhood, while strategically investing in the future.

  • The MCHA expects to select a Development Partner over the next several weeks.

  • Multiple additional neighborhood meetings will occur throughout 2014, beginning over the summer. All future meetings will be broadly publically announced.

  • Please contact the MCHA’s Executive Office at 610-275-5720, x 315 with any questions or suggestions.

May 2014

 

Initial Project Timeline: Crest Manor Investment Effort

March 31, 2014 – Community Meeting, Willow Hill Elementary School

April 2014 – MCHA issues Request for Proposal seeking a Development Partner

(To download a copy of this RFP, click here.)

May 2014 – Proposals received and reviewed by the MCHA

June 2014 – MCHA scheduled to select a Development Partner

Summer/Fall 2014 – Conduct multiple community meetings

 

Frequently Asked Questions: Crest Manor
Investment Effort

Question: Are Current tenants guaranteed a spot in new homes?

Response. The answer is twofold: a) if the current tenants remain income qualified and b) if they are a resident in good standing at a future date, (to be determined) then they will have the right to move into the new homes.

 

Question: Where does the funding come from?

Response. There are a variety of funding sources, but one of the primary sources of construction financing likely includes the federal Low Income Housing Tax Credit. Based on industry standards, an effort of this scale would likely include a budget of approximately $12 million dollars.

 

Question: The housing is now rented. Will they remain rented and based on income?

Response. Yes, the new homes will be rental and the future tenants must be income qualified to live there. The income qualifications will change slightly, but will not the vast majority of the current residents. A resident now may qualify for housing at the Manor if their income does not exceed 80% of Area Median Income (AMI). Under the conditions of some of the funding for the new homes, that limit would be at 60% of AMI. Again, the vast majority of the current residents at the Crest Manor fall within that standard and the MCHA will attempt to make accommodations for any households that may not.

To submit a question or comment to the MCHA about the Crest Manor effort, please click on the link to crestmanorcomments@montcoha.org