Parade Street housing facilities hosts ribbon cutting

Energy Efficiency made Simple

Parade Street housing facilities hosts ribbon cutting

The $12-million-dollar Parade Street affordable housing project, which uses The Build SMART System, in Erie’s East Side is complete! The Parade Street Commons East is located just off of Parade Street between East 19th and 20th Streets. This new addition of housing gives families with low to moderate income another option of somewhere to live. Each of the units are energy efficient as well, which means they are designed to help the costs of utilities to go down for tenants.

“They will be burning less gas, it’s just very energy efficient. That helps with our environment as well, not just the people that live there save money. It helps our whole environment. It makes it healthier for all of us, because we don’t have to breathe that polluted air,” said Mayor Joe Schember, (D), City of Erie.

To honor the completion, a ribbon cutting ceremony was held at the Parade Street housing facilities at 20th and Parade, a low income housing tax credit development.

This is a brand new affordable housing. It smells like fresh paint inside these units, which totals 40 units. This housing is affordable for people that are 60%, 50%, or 20% of median income. Financed throughout the Pennsylvania Housing Finance Agency, Citizens Bank and Crea Equity.

The rent ranges from $230-$850 with utilities included. Over half the units are already occupied and organizers telling us that there are more applications than units left. “Affordability wise, it is a tax credit light project, which means for individuals low to median income…20, 40, and 60% of Erie median income,” said Donald Crenshaw, Managing Member. “So, you’re getting some of the best construction type income for some of the individuals that are sometimes under served. Elevations-Wall-Section-Window-Door-Schedule-Section Details-Lender-Structural Engineer-MEP Engineer-Energy Modeler-Energy-Rater-Resilience-zero-carbon-Panelized-Passive-House-Multifamily-Prefabricated-Modular-Offsite-construction-Off-site-construction-Code-comparison-Financial-analysis-Return-on-investment-ROI-Internal-rate-of-return-IRR-Real-estate-valuation-Cash-flow-Pro-forma-Financial-terms-in-attached-documents-Noise-Sound-proofing-NIMBY-Health-Covid-19-Ventilation-Section-8-Voucher-program-Build-to-Rent-All-AIA-education-credits-Health-Safety-Welfare-credits-HSW-NIMBY-Covid-19-Ventilation-Noise-Soundproofing

Original Story By: YourErie

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