Cephas applauds final low-income housing tax credit awarded to complete the Shepherd Senior Residences Project

PHILADELPHIA, Nov. 21 – State Rep. Morgan Cephas today praised the announcement made by development company Pennrose, that the Good Shepherd Senior Residences Project has been awarded Low Income Housing tax credits by Pennsylvania Housing Finance Agency.

Pennrose is now ready to move towards a financial closing, followed by construction. The organization expects to begin construction around September 2023.

“This is monumental. I am very excited and appreciative of this; a lot of hard work has been done to get to this moment. The public funding awarded will help ensure much-needed senior residences that will benefit our community tremendously,” Cephas said.

Cephas also emphasized that she will continue championing for high-quality affordable housing in Philadelphia. “I will keep fighting for one of my biggest goals, which is to expand the construction and access to affordable housing opportunities for our residents and I am glad to say that we are moving forward,” Cephas said.