Mantua Preservation Project consists of ten scattered-site properties within a two block area in the Mantua section of Philadelphia. These buildings consist of 9 triplexes and 1 duplex. The $2.5 million dollar revitalization of the properties was done through a combination of permanent financing from Community Lenders and capital grants. Mantua Preservation Project LLC, was awarded a $750,000 grant from the Federal Home Loan Bank of Pittsburgh and construction financing for this project came from the Reinvestment Fund. All ten 82-year old properties required renovation to ensure their longevity. The moderate rehabilitation involved the replacement of roofs, doors, a majority of windows, HVAC systems and the addition of central air conditioning. Bathrooms and kitchens were also substantially upgraded with new cabinets, countertops and plumbing fixtures. Electrical services were modernized and new code compliant fire safety systems installed. Mantua Preservation Project LLC, was established for the sole purpose of redeveloping and operating these 29 high-quality affordable housing units targeted to low-income households.
We provide 25 year financing for non-profits for facilities that will contribute to the area’s development and economic well-being.
For facilities that offer both housing and community development activities, we provide 25 or 30 year loans.