Today's tax-credit awards will help construct or rehabilitate 1,900 affordable rental units

HARRISBURG, Pa., Oct. 9, 2025 /PRNewswire/ -- The Pennsylvania Housing Finance Agency has awarded $66.5 million in low-income housing tax credits to support the construction of 1,900 new and rehabilitated affordable multifamily housing units statewide.

When completed, 41 new developments will provide an additional 1,946 rental housing units, including 1,900 affordable units for Pennsylvania residents.

"Tax credits are the main tool for PHFA to create affordable rental housing, and I'm pleased we are awarding credit to developments that will make a difference for so many Pennsylvanians," said Robin Wiessmann, PHFA executive director and CEO. "The shortage of affordable housing is widely acknowledged. These credits are pivotal in helping to build and preserve homes that working families, seniors and vulnerable Pennsylvanians can afford."

The federal low-income housing tax credits are administered by PHFA and were approved today by its board.

In addition to these tax credit awards, PHFA's board authorized Pennsylvania housing tax credits and recognized the agency will also contribute first mortgages and/or soft funding sources to many of the awarded developments. Additionally, these low-income housing tax credits will be used to leverage local, state, federal and private financial resources needed to complete the financing plans for these construction initiatives.

The 41 multifamily housing developments being awarded tax credits today are identified on the PHFA website at https://www.phfa.org/mhp/; see the list of tax credit recipients under "News & Awards 2019 - Present" and dated 10/9/2025.

About PHFA
The Pennsylvania Housing Finance Agency works to provide affordable homeownership and rental housing options for older adults, low- and moderate-income families, and people with special housing needs. Through its carefully managed mortgage programs and investments in multifamily housing developments, PHFA also promotes economic development across the state. Since its creation by the PHFA issues RFP for PHARE funding, legislature in 1972, it has generated more than $20.1 billion of funding for more than 206,750 single family home mortgage loans, helped fund the construction of 110,284 rental units, distributed approximately $362 million to support local housing initiatives, and saved the homes of more than 51,400 families from foreclosure. PHFA programs and operations are funded primarily by the sale of securities and from fees paid by program users, not by public tax dollars. The agency is governed by a 14-member board.

Media contact
Chris Anderson
canderson@PHFA.org 
717.780.3915

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SOURCE Pennsylvania Housing Finance Agency