A multi-million dollar apartment project for low-income senior citizens in Cochranton has received financing assistance from the Pennsylvania Housing Finance Agency.
Adams Place is a three-story, 39-unit apartment complex planned by Hudson Companies of Hermitage. It would be built on a 1.7-acre vacant site on North Franklin Street on the north side of the borough near the Cochranton Community Services Complex.
Adams Place is one of 39 affordable multifamily housing developments across Pennsylvania awarded tax credits today totaling $41.6 million. The tax credits are administered by the Pennsylvania Housing Finance Agency and approved by the agency’s board today.
Construction on Adams Place is expected to start in the spring of 2020 with occupancy in the spring or summer of 2021, according to a Hudson Companies spokeswoman.
Hudson Companies also did a similar senior housing project, Evans Square, in the borough of Conneaut Lake. Evans Square, a 40-unit complex, opened in the spring of 2018.
Pick up a copy of Friday’s print edition or check later with meadvilletribune.com for more details.