1. home and garden

For more information, contact
Jennifer Creighton
Marketing Manager
[email protected]
315.472.3820
www.housingvisions.org
FOR IMMEDIATE RELEASE
Friday, June 12, 2015
HOUSING VISIONS AWARDED FUNDS FOR
POTTSTOWN, PA AFFORDABLE HOUSING DEVELOPMENT
SYRACUSE, NY – Housing Visions Consultants, Inc. today announced that it has been awarded nearly $1.16 million in lowincome housing tax credits by the Pennsylvania Housing Finance Agency. The funds will go toward the redevelopment plan,
developed by Housing Visions in partnership with Genesis Housing Corp., to transform the former Leibowitz Shirt Factory — a
long vacant, blighted, 60,000-square-foot warehouse — into a mixed-used building in the heart of Pottstown, Penn. The
development, named Beech Street Factory, is Housing Visions’ first project in the Commonwealth of Pennsylvania.
“We are extremely proud of Beech Street Factory,” said Kenyon Craig, president and CEO for Housing Visions. “This funding
will help Pottstown meet its critical housing needs, revitalize a struggling neighborhood and expand economic opportunity for
all.”
Partnering with Genesis Housing Corp. and ArtFusion 19464, the Housing Visions team has worked directly with Pottstown
community residents and local government to identify the needs and vision for the Pottstown neighborhood. Beech Street
Factory will provide 43 units of high-quality affordable rental housing and a new home for ArtFusion 19464, Pottstown’s
nonprofit community arts center, in the street-level commercial space.
Judith Memberg, executive director of Genesis Housing Corp., said, “Genesis Housing is looking forward to working with
Housing Visions to redevelop this long-term vacant property to high quality residential units and space for ArtFusion. This will
be a transformative project in the revitalization of Pottstown.”
Constructed in 1912 as the Leibowitz Shirt Factory, the 100+ year old brick building at 341 Beech Street will feature abundant
natural light, historic character, and Energy Star appliances. Residents of the one-, two-, and three-bedroom apartments
(ranging in size from 800 to 1,500 square feet) will enjoy amenities such as a community room/gallery space, computer lab,
covered bike racks, landscaped courtyard and open front porch, on-site laundry facility, individual storage lockers, elevator,
and a fully staffed property management and leasing office.
Total project costs are estimated at $13.6 million. The low-income housing tax credits are provided over 10 years, for a total of
$11.6 million in PHFA funding, and Montgomery County also provided a total of $1.3 million to the project. The remainder of
funds derive from private equity contributions.
About Housing Visions
The mission of Housing Visions is to be the catalyst for sustainable positive change in neighborhoods through real estate
development and community collaboration. The organization was borne out of a community-based effort in 1990 to rehabilitate
and stabilize a declining neighborhood on the east side of Syracuse, NY. Since then, the nonprofit development, construction,
and property management company has expanded its scope of work to include 12 cities and nearly 1,200 units of affordable
housing across Upstate New York, with a total community investment of more than $270 million. It serves a diverse group of
residents, including families, special populations and seniors. For more information, visit www.housingvisions.org
About Genesis Housing Corporation
Working with community residents and local governments, Genesis Housing Corporation administers federal, county, and state
funds to revitalize neighborhoods by improving housing for existing and future homeowners. Established in 1994, this 501(c)(3)
non-profit organization serves Montgomery County as a community housing development organization (CHDO) and is dedicated
to the development of affordable housing and to the education of consumers on housing and financial issues.
About ArtFusion 19464
With a mission to enrich the lives of the residents in the greater Pottstown area through the visual arts, regardless of ethnicity
and economic situations, ART Fusion 19464’s goal is to spark creativity, build self-confidence and develop community bonds
through education, mentoring and community service. A federal charitable 501(c)3 non-profit community art school and
gallery, ART Fusion 19464 offers art classes for all ages and skill levels. Its gallery hosts rotating exhibits of local and national
artists. It also sells a wonderful selection of local, handcrafted pottery, glass, jewelry, woodcrafts and more.
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