Schuylkill Falls
4301 Ridge Ave
Philadelphia, Philadelphia County, Pennsylvania 19129

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Funding Programs

Schuylkill Falls was developed and operates with Federal housing financing. The property utilizes 2 Federal housing programs to make rent affordable to lower income tenants. These programs are Low Income Housing Tax Credit and Community Development Block Grant.

Low Income Housing Tax Credit

The property was developed using the Low Income Housing Tax Credit Program. This program incentivizes investors to inject capital into rental apartments for lower income Americans. The property received a tax credit allocation in 2000 for $708,890 with a 10 year value of $7,088,900. The property was placed in service in 2003. 135 of 135 units at Schuylkill Falls are low income and subject to the tax credit program. The property, at the time of the tax credit allocation, was not located in a Qualified Census Tract or a Difficult Development Area and was not qualified for additional tax credit funding.

Community Development Block Grant

The property was financed with partial financing through the Federal Community Development Block Grant Program (CDBG) which provides general funding to local governments to help create affordable housing and economic development opportunities. Schuylkill Falls received $0 ($0 per unit) of financing through the CDBG Program.

Overview

Schuylkill Falls is an affordable apartment community located in Philadelphia, Pennsylvania which is located in Philadelphia County. The property is located in Pennsylvania's 2nd Congressional District served by Representative Dwight Evans (D), Senator Patrick Toomey (R) and Senator Robert Casey (D).

Schuylkill Falls is an apartment community containing 135 rental units. This property serves all family types. The property contains 275 bedrooms and based on typical apartment occupancy limits, Schuylkill Falls is home to not more than 530 persons when fully occupied.

Rental Subsidies

This property does not provide any Federal rent subsidies to renters reducing total tenant payments to 30% of their adjusted income. Renters are required to pay the full rent, even if it is in excess of 30% of their income. In some cases the property may accept Section 8 Housing Choice vouchers.

Unit Mix

Schuylkill Falls contains a mix of 135 assisted one, two, and three bedroom apartments for rent. There are 40 One Bedroom, 50 Two Bedroom, and 45 Three Bedroom apartments in this property. The unit mix is 30% One Bedroom, 37% Two Bedroom, and 33% Three Bedroom apartment rentals. The average bedroom size for Schuylkill Falls is 2.04.

Pennsylvania's 2nd

Congressional District

135

Total Units

135

Tax Credit Units

135

CDBG Units

One, Two, and Three

Unit Mix

2.04

Average Bedroom Size

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† These counts are estimates based on the data available from HUD. Learn More About Our Data